News Article Czech Republic Prague report
by Property Forum | Report

Two years after the results of the international architectural competition won by the Danish BIG, the detailed architectural study of the Vltava Philharmonic has been completed and the construction permitting process has begun by submitting an EIA application.


The construction costs of the project have also been updated. "As part of the completion of the detailed architectural study of the Vltava Philharmonic, there was a detailed elaboration of individual operational, structural, functional and technical solutions, the required addition of spaces and the overall efficiency of the use of the building. Even so, the volume of the building increased by 13%. As a follow-up to this and to the development of the economy in the past two years, when the price level of building materials and construction work changed, we had the budget updated. The tender proposal in April 2022 assumed project costs of CZK 9.4 billion (€374 million). The cost estimate for the construction of the building according to a detailed architectural study in September 2024 is at the level of CZK 11.65 billion (€463 million). This is an increase of 11.5%, which the Commission hl. City of Prague for the construction of the Vltava Philharmonic and Prague City Council accepted in September 2024. The financing of the project will be from multiple sources, we are working on the most suitable solution," adds the details of Ing. Martin Krupauer, head of the project team of the Vltava Philharmonic.

Doc. MUDr. Bohuslav Svoboda, CSc., City of Prague Mayor states: "We perceive the Vltava Philharmonic not only as a Prague project that will enrich the local cultural life and start the transformation of the Bubny-Zátory development area, but also as a project that goes beyond the boundaries of the metropolis in its significance. The Vltava Philharmonic will become a cultural ornament for the entire Czech Republic and by extension the Central European region. I am pleased that the winning design has been refined into a detailed architectural study and we are moving forward on the right path.”

The Vltava Philharmonic is conceived as a national centre of musical art. It will be the seat of the Czech Philharmonic and Symphony Orchestra Prague FOK and they will have adequate spaces for their residence and their educational programs. The Philharmonic is designed to be as open as possible, and its ambition is to attract not only lovers of classical music but also residents and visitors to Prague from all over the country and abroad.