The Prague building Luxembourg Plaza for 1.5 billion CZK is completed

Prague - The eight-story Luxembourg Plaza building in Prague's Vinohrady, which will offer hotel rooms alongside office and retail space, has been completed after approximately 1.5 years of construction work. The total costs amounted to 52 million euros, or roughly 1.5 billion crowns. This was stated at today's press conference by Orco Property Group, the developer of the project.
The modern building, located on the border of the royal Vinohrady and Žižkov near the Palác Flóra shopping center, was built by the largest construction company in the market, Skanska CZ. The design was contributed by Arquitectonica, a team of architects from Miami, and Cigler Marani Architects from Prague. Financing was provided by the Hungarian bank MKB&CIB.
Offices are located over approximately 25,000 square meters. An international Marriott Courtyard hotel will operate 161 rooms here, which is 100 percent owned by Orco. The building features six high-speed elevators and over 400 parking spaces in the basement.
"Currently, the building is 80 percent leased to leading international companies such as Exxonmobil, Burda, GTS Novera, Jan Becher - Karlovarská Becherovka, and the Marriott hotel," said Aleš Vobruba from Orco.
The building's design is highlighted by an atypical façade made of stone and glass. "Inside the building, there is one of the largest open atriums in Prague," noted Vincent Marani from the architectural studio Cigler Marani Architects.
Luxembourg Plaza was a joint venture between two leading Central European developers, Orco Property Group and TriGránit Development Corporation. Orco purchased a 50 percent stake in TriGránit for its own long-term investment fund, the Endurance Fund, for 16 million euros (about 450 million crowns) this January.