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The Luxury Hotel Ritz-Carlton Built in Old Town Square in Prague!

After years of speculation and debate, in January 2018, construction of a luxury 5-star Ritz Carlton hotel is due to start, reports Hospodářské Noviny.

Green light has been given to the reconstruction, which will include the renovation of eight existing buildings. At the end of 2020, the first guests should be able to visit the Ritz-Carlton.  apartment for sale in pearl qatar

The investors say they are linking historic buildings on the streets of Celetná, Železná and Kamzíkova to a functioning hotel complex.

The complex has been discussed since the 1990s; conservationists' objections were uncompromising, and the project had been shelved for more than a decade.

The project manager Akroterion, Ogi Jaksic, told HN, "We have signed the VCES [...] General contractor and renewed a building license for three more years."

While the original plans were for a hotel strictly, investors now consider building 20 rental apartments.

It is reported that the new hotel offers approximately 100 rooms.

The cost of rehabilitating these now largely vacant and abandoned historical buildings is estimated at two billion crowns.

According to a new analysis by investor Trigema which looked at rent costs in Czech capital and beyond for the second quarter of this year, rental housing at Prague is about twice as expensive than in other parts of the Czech Republic.

While the average monthly rent in Prague for a 2+K apartment amounted to CZK 14.223, in the Moravian-Silesian region it was just CZK 6.700.

"The housing and rental housing markets are interconnected. In a place that is attractive to residents, the price of new and old homes is higher, the cost of rental housing will be the same," says Marcel Soural, Chairman of the Board of Directors of Trigema.

On average, the price of 1+K flat was CZK 11.294 in the second quarter in Prague, CZK 14.223 for 2+KK and CZK 18.134 per month for 3+K.

Czech architect Jan Kaplicky's proposed Czech National Library, the so-called Blob, may never have happened, but the neo-futuristic spirit of the late visionary is alive and well in a number of more recently constructed Prague buildings.

Here's an overview of just a few of the more exciting proposals for new headline titles (see the interactive map below for further developments; we will continue to update):

This week after years of litigation, the controversial construction of this Minecraftesque structure in the historic center called Maršmeloun or Marshmallow Building for its rose color and soft contours was granted a building permit. Construction is scheduled to begin in June.

The building, designed by Fránek Architects, is designed for residential use and will be built on U Milosrdných near the St. Convent.

Since last week, the councils of Prague have officially approved the proposal to enhance the experience of the Prague waterside by adding tables, chairs and toilets to the Rasínovo reserve area. According to a recent proposal made by Petr Janda architects which is currently under consideration by municipal officials, the niches and nooks of the terrace, which were used historically to store timber, could also become gallery spaces, cafes and new public toilets.

City officials who have proposed various locations for the installation have been discussing a pavilion for the permanent display of the Slav Epic 20 panel cycle of Alfons Mucha, currently on tour in Asia. This was submitted by architect Peter Malinský in January. The cost for the controversial Oval glass structure compared to the golden donut is expected to be CZK 184 million (Malinský says that it is to look like the sun rising over the Vltava). Plans for construction have not been confirmed yet.

A similar ferris wheel on the banks of Smíchovské nábřeží, on the Moldavian side of the popular Náplavka summer resorts, which in recent years has seen an increasing cultural exposure thanks to famous establishments such as the Jazz Dock and the summer cinema Výletní kino Smíchov. The project, which city officials approved last year, is now held by a private building company. Updates can be found on the official website of Prague 5.

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