REAL ESTATE NEWS

Paladium, the latest commercial center in Prague

Did the city need its largest commercial center?

Over 170 stores, 30 restaurants and cafes on over 11,500 square meters of commercial space make up Palladium, the newest and largest shopping center in the Czech Republic. It is located on Náměstí Republiky, right across from the Municipal House, in the center of Prague.

Palladium is built at one of the best locations in the center of Prague, which was closed to the public up to the early 1990’s, as the location was owned by the Czech military.

European Property Development "EPD” won a tender for re-development of the old military barracks into commercial center. The construction lasted over two years with careful consideration for the historic face of the building, which was almost entirely preserved.

But, history and tradition end the minute you enter the front doors. Palladium is five levels of pure modern design, with unconventional shape and numerous curves and corners, lights and wide array of materials. It is naturally lit and boasts fountains that add to the lively atmosphere. Its location and design brought the price for renting commercial space in the center of Prague to new heights; it boasts the highest rent per square meters for commercial center in the whole CR.

Palladium’s vision is to be more than a shopping area, with several artists’ sections and extensive schedule of fashion shows, concerts and dance performances.

However, the curious visitor cannot help but notice that Palladium has failed to bring in retail and designer stores other than ones already well known to the shoppers in Prague. Palladium’s size and location almost mandated something new and exciting in Prague’s shopping life, however the opening felt little short of the expectations.

Although, its opening will boost the excitement of the center, Palladium is just a shopping center, with prices to match its fabulous location.