The international law firm CMS and the European Investment Bank (EIB) have rented office space in the newly renovated Palác Dunaj building on Národní třída. The total occupancy has now reached almost 80 percent. Only one floor of offices and retail units on the ground floor of the building remains vacant, though negotiations with potential tenants are already underway here as well.
“We are pleased that we have managed to get further prestigious tenants for Palác Dunaj. The concluded long-term lease agreements do not only confirm the high quality of the entire project in terms of architecture and sustainability but also its attractiveness for tenants from renowned companies and organizations,” commented Jaromír Zahrada, Asset Manager of Zeitgeist Asset Management.
The European Investment Bank, which is the financial arm of the European Union owned by its 27 member states, will join other EU institutions that are moving into the building. These are the European Commission’s Representation in the Czech Republic and European Parliament Liaison Office together with an interactive centre for the general public. Their fit-outs were completed together with the opening of the entire Palác Dunaj last November. Audiovisual technology is still being installed in the public “Europa Experience” space, which offers visitors several virtual elements to tell them more about Europe attractively and entertainingly. It should begin operations this April.
Another significant tenant will be the law firm CMS Czech Republic, which has signed a long-term lease agreement on the top two floors with a view of Prague Castle. CMS was one of the first foreign law firms to open in the Czech Republic. Thanks to more than 30 years of experience in the local market, it offers its clients extensive expertise and knowledge of the local legal and business environment.
The first tenants are already moving in. At the same time, the fit-out for the Czech Bar Association is being prepared and finishing work is continuing on the atrium and roof, which will be handed over in the second phase of the construction in May of this year.
“Adolf Foehr’s architecture continues to be a respected example of the Constructivist design of the 20th century but has now acquired the current shine and technology that contributes to greater energy efficiency and long-term sustainability. Palác Dunaj is gradually becoming a modern working and social centre in the heart of Prague, which gives the entire area another dimension. We would like to thank our tenants, who have contributed significantly to the new chapter of this exceptional building,” commented Peter Noack, CEO of Zeitgeist Asset Management.
