Slovak Corwin is building a new district in Prague's Vysočany worth billions of crowns

Prague - The Slovak development company Corwin will build a new district with more than 1,000 apartments in Prague's Vysočany. The construction is expected to take eight to ten years and cost several billion crowns. The first phase of the project is set to be completed in the first quarter of 2029. This was communicated to journalists by company representatives at today's press conference. The company has previously completed several projects in Slovakia and Slovenia, collaborating with the Hartenberg Capital fund, which manages investments for the chairman of the ANO movement and possible future Prime Minister Andrej Babiš (ANO). The fund will also participate in the creation of the Dvory Vysočany project.

The district will be located south of Českomoravská street, and the entire project will be divided into several phases. In the first phase, more than 200 apartments, 6,000 square meters of administrative space, and 1,400 square meters of retail space will be created. Preparations for additional phases are currently underway, with the second already receiving a construction permit, according to representatives of the development company. The architectural and urban design of Dvory Vysočany was developed by the Gehl Architect studio of urbanists Jan Gehl and David Sim and the Czech studio OVA Štěpán Valouch.

According to the architects, the design of the district aims to preserve industrial elements alongside modern architecture. It will also include a nursery, shops, and a pharmacy. The area will be connected to a bus stop and the A5 cycling path. "The arrangement of the houses will create a safe and pleasant environment where children can spend time outside without worry, and adults will have the opportunity to gather in cafes or public spaces," said Jakub Dobrý, head of Corwin for the Czech Republic.

Corwin is a development company based in Bratislava, with a branch also in Ljubljana, Slovenia. In the capital of Slovakia, it has realized six residential and two commercial projects. It is also working on several revitalizations of industrial zones. Among Corwin’s most significant projects are the Einpark Offices in Bratislava and Vilharia in Slovenia. In 2021, Hartenberg announced it would collaborate with Corwin on the construction of more than six projects in Slovakia and Slovenia. There will be at least four joint projects in Slovenia. Hartenberg subsequently acquired half stakes in Corwin's projects. Vilharia was their first joint work.

The creation of the Dvory Vysočany district will be co-financed through a bank loan and from its own resources. Jozef Hurban from Corwin told ČTK that Hartenberg is one of the investors and partners in the project. "For us, this partnership is a significant advantage, as we have the development itself in our hands, but thanks to a strong financial partner, we can develop larger and more ambitious projects," Hurban added.

The parent company Hartenberg was founded by Jozef Janov after leaving the Penta group together with Babiš in 2013. Hartenberg includes, among other things, the enterstore group, which controls e-shops such as Astratex, Sportega, Unuo, Miss Mary, 4kraft, and Ovečkárna. It also focuses on healthcare.