Passerinvest Group is the first in Prague this year to begin the construction of Hila building

Passerinvest Group is the first in Prague this year to begin the construction of Hila building

Today, Passerinvest Group symbolically launched the construction of the multifunctional Hila building in Brumlovka. Upon its completion in the spring of 2027, the building will provide a combination of approximately 20,500 m² of offices for rent (on the 2nd to 8th storeys), 71 rental flats (on the 9th to 15th storeys) and retail spaces of 2000 m² on the ground floor. All within a single building. The building will also offer spacious terraces for office users and balconies with beautiful views for the residents. The Hila building will completely fulfil the company’s ESG strategies and will be equipped with modern technologies, from which the cooling and heating system with radiant ceilings, which represents the most modern concept of indoor climate control, for example, is worth mentioning. Thanks to the well-designed combination with the planned heat pumps, it will be a highly efficient and economical design to operate. The renowned studio Aulík Fišer architekti is behind the architectural design of the project; the construction contractor is GEMO. The owner and investor of the building is Passerinvest Group.

“For two years, no major office building started to be built in Prague for the free market. Thus, I thank God for giving us the courage to swim against the tide and start. The construction of the Hila building is also important due to the fact that after a number of renovations, a residential project and non-profit buildings, an important office building is being built in Brumlovka again, albeit with a multifunctional overlap. By combining the main function of modern offices and rental housing within a single, yet sufficiently large building, we are once again becoming market pioneers in this area. I firmly believe that there will be many satisfied customers for this grand concept,” stated Radim Passer, the founder and CEO of Passerinvest Group.

“We have noticed that the new construction of office spaces has stopped, though the demand for new office spaces that will meet the high contemporary requirements of users has not disappeared, not to mention the interest in flats. That is why, in the case of the Hila project, even though it is speculative construction, we are firmly convinced that we will be able to fill the capacity of the building quickly. Passerinvest Group is the first company in Prague this year to start the construction of a project of this kind and I am excited that we can contribute to the Prague market with such an innovative concept that will bring a number of economic and social benefits, and companies that decide to have their registered office or branch in our country can therefore give their employees a mix of prime offices, a healthy environment, services on street level, a place to relax on the roofs, but also Brumlovka’s full civic amenities. If you work or even live in the Hila building, you have everything you need within easy reach all within one building,” added Eduard Forejt, Development and Business Director of Passerinvest Group, a.s.

The Hila building is going up on the corner of Vyskočilova, Želetavská and Jemnická streets. The second to eighth storeys will consist of an office area, complemented by green rooftop terraces, suitable for work and relaxation, and the ninth to fifteenth storeys will contain rental apartments with balconies. Part of the ground floor will be retail units accessible both from the surrounding streets, as well as from a pleasant shopping mall. The four underground levels will provide approximately 420 parking spaces intended exclusively for the tenants of the building, including preparations for charging stations for electric vehicles. The planned completion of the office section is estimated for the end of 2026 and the full completion of the construction, including the residential part, is expected in the spring of 2027.

“In spite of how much interest is growing in mixed-use projects in the Czech Republic, there are still very few getting off the ground compared to the rest of Europe. This is mainly due to lengthy approval processes, which usually take years here in Czechia, and so unfortunately development responds to changes in social demand with a considerable delay,” Eduard Forejt added.

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