"We appreciate that such an important company as ČEZ has chosen our new Smíchov City district for its headquarters, which is profiled not only as a residential but also as a significant administrative location - a business hub. ČEZ will be located next to the currently under construction extensive campus of Česká spořitelna. This confirms the quality of our administrative developments and our dominant position on the Prague market with an 80% share in the office building construction segment. Smíchov City is the largest urbanization in central Prague since the creation of Vinohrady at the end of the 19th century. We are creating a new central district that has a truly city-forming character. Our ambition is to create a new center of Prague that will become a modern alternative to the historic core of the metropolis, with apartments, modern office space, shops and services, a school and public space. The entire project will be crossed by a kilometer-long pedestrian boulevard, which will serve as a communication axis, but also a place for meetings and civic activities,” says Leoš Anderle, CEO of Sekyra Group.
A significant transaction in the administrative market
The new headquarters of ČEZ will consist of three buildings with a total area of 44,000 m². Two of the buildings were designed by the architectural firm Tham & Videgård Arkitekter, while the third was designed by the Schindler Seko architekti studio. After the buildings are completed, the final interior design will be carried out by the ADR studio under the leadership of architect Petr Kolář. The buildings are being built by Sekyra Group in cooperation with general contractors, which are Metrostav and GEMO.
The construction should be completed in 2027. After the building is approved, ČEZ will buy it and then fit out the space. During construction, great emphasis is placed on the flexibility of administrative areas. One of the six-story buildings should house the general directorate. In addition to offices, the others are also expected to house a client center and a dining room. A functional ground floor with cafes and shops intended for the public should be preserved on the front side of the buildings.
“The project to move all employees who work in Prague in Brumlovka to a new location began in 2022. The reasons for moving the headquarters are fundamental. Our lease agreement in the buildings we are currently based in will expire, and they will also have to undergo substantial reconstruction and modernization,” explains Michaela Chaloupková, member of the board of directors and director of the ČEZ administration division.
The buildings for ČEZ, like the headquarters of Česká spořitelna, are located in the Smíchov City South part. This area will be connected to the Smíchov City North part, where residential construction predominates, by a kilometer-long pedestrian avenue called Albrightové. This boulevard will allow people to walk from the Smíchov train station terminal to the center of Smíchov. This will make the services and shops within walking distance of the Smíchov City project even more accessible to people.
The quality of the entire project is also evidenced by the fact that it has received recognition from both the professional and lay public and a number of significant awards, such as Building of the Year 2024, the main award in the Best of Realty 2024 competition in the category of larger-scale residential projects, the Architects' Award in the Real Estate Project of the Year 2024 competition, and the ThePrime Awards in the Best Residential Development 2024 category.
"The Smíchov City location is exceptional for several reasons. First of all, it is a multimodal transport terminal that will allow users optimal accessibility by all means of public transport. In addition, it is a place where people can work, live, spend their free time and have fun. The city center, with a wide range of services, as well as green spaces for relaxation, creates an ideal environment for work and social activities that Prague needs so much. The fact that it will become the headquarters of Česká spořitelna and ČEZ demonstrates the great potential of this location within Prague 5. Thanks to high-quality urban planning, it will also be fully utilized,” adds Zdenka Klapalová, CEO of the Knight Frank consulting company.
All buildings are aiming for the highest sustainability certificate BREEAM Outstanding. The construction is taking place according to ESG principles and, among other things, the carbon footprint of building materials is monitored. The facade of one of the buildings will be made of high-strength concrete using the 3D printing method, which allows for the optimization of precast production and thus reduces energy consumption during production and assembly. All of this will be reflected in a lower carbon footprint. Green roofs are planned. Building heating will be provided by geothermal wells and heat pumps.
Sekyra Group began building the buildings speculatively, i.e. without a known tenant, in the summer of last year. "We believe in the Prague office market, and therefore, unlike some developers, we did not suspend any of our administrative projects even after the Covid pandemic. We are registering a growing demand for new administrative space, and statistical data on office vacancy, which is around 8%, confirms this," states Leoš Anderle. According to an analysis by the Prague Office of the Knight Frank consulting company, 166,000 square meters of office space were under construction in the metropolis last year. The vast majority of them, roughly 80% of these areas, are growing in the new districts of Smíchov City and Rohan City. Sekyra Group thus has a dominant position on the market.
In addition to ČEZ and Česká spořitelna, Smíchov City has also been chosen as its address by Komerční banka, which has leased 2,157 m² in the Na Knížecí office building, which is located in the Smíchov City Sever part. The building was completed as part of the first stage of the project two years ago. Smíchov City is thus becoming a significant Prague business hub. "Companies are very interested in administrative premises in the project. Now they have a unique opportunity, even if they need several thousand square meters, to be located in modern offices with a high standard of design in the center of Prague with excellent transport accessibility and parking," explains Leoš Anderle, explaining the trend.
Offices and apartments are being built
Currently, the construction of the Smíchov City project continues with the pivotal, 2nd stage, called Smíchov City South. It includes the already mentioned Česká spořitelna campus with an area of 75 thousand m². In addition, this part of the project includes three ČEZ buildings and a hotel with a unique Smíchov Market is also under construction. As part of the 2nd stage, significant public infrastructure buildings are also being built, primarily the Smíchov transport terminal, which will include the modernization of the Smíchov railway station, the P&R building, and the construction of a new transfer hub connecting trains, metro, trams and buses, both suburban and long-distance. The total investment in this significant infrastructure project will reach 15 billion.
The third phase of the project will begin this year in the northern part of Smíchov City, part of which will also serve as rental housing. It will include the construction of another residential block SM8 with 300 apartments. It will be followed by blocks SM7 and SM10 with 490 apartments, located between Albrightové Avenue and Vacková Street. The third phase is a continuation of the first phase, in which more than 400 apartments were completed.
The fourth and final phase of Smíchov City will be adjacent to Radlická Street. A significant public space will be created in these areas, which will include, among other things, the Radlická Cultural Sports Hall, which the Sekyra Group has pledged to preserve. The sports hall was created by a group of enthusiasts from an abandoned railway depot as a place for meetings, culture and sports. The public also helped with its launch through an online crowdfunding campaign. As a reference to the tradition of the place, this building will become the centerpiece of the future square.
The Smíchov City district will offer work, housing, services and all civic amenities, all within easy reach. Pleasant public space will also be an integral part. Busy Smíchov will gain new, quiet places suitable for picnics and relaxation. In total, more than two hectares of green space will be added to Smíchov. The tree-lined avenues are also designed to offer views of Prague Castle, the Zlíchov Church or Vyšehrad.
The total cost of the Smíchov City project, spread over 20 hectares of former railway brownfield, will reach 50 billion crowns. Private investments in the project will amount to 35 billion crowns, supplemented by almost 15 billion from public sources invested in related infrastructure (modernization of the railway station and construction of a terminal including a large-capacity parking garage) and education. Almost 400 thousand square meters of residential, administrative, commercial and public areas will be created here. The project will be completed by 2032. Approximately 12 thousand people would work or live in the new Prague district.
