Passerinvest Group is shaping Prague’s future: 21 billion to be invested in offices, flats and public space by the end of 2029

The Czech builder Passerinvest Group (or Passerinvest) has announced strategic investments worth more than twenty billion crowns. These investments will significantly transform the Prague real estate market in the 2020s. During this period, Passerinvest will bring a total of 180,000 m² of office, residential and retail space to the market. Alongside construction, 5.5 hectares of public spaces in the form of parks, relaxation zones and water areas will also be transformed and cultivated. Four new office buildings will be built by 2029, two of which will contain a total of 200 rental apartments and commercial space. It will all culminate in a separate residential project with  650 residential units for sale and rent. This continuous development situated in Brumlovka and Roztyly in Prague 4 is the largest private investment in this part of the capital and promises further significant economic stimulus for the entire region.

The year 2024 was pivotal for Passerinvest, particularly in terms of forming a strategy for future development. The company started the construction of the Hila project at Brumlovka which, with a total area of 27 000 m², will bring to the Czech market a new alternative to multifunctional buildings combining work, rental housing and shops with horizontally divided functions. The completion of this economically diversified project is planned for the turn of 2026/2027.

Another of the company’s constructions at Brumlovka has been made possible by obtaining a building permit for the 28,000 m² Orion multifunctional building. It is already at the stage of preliminary construction work and will also combine city-forming segments, i.e. office space with housing and a ground floor dedicated to retail. Modern technologies – mutually and perfectly synchronised heat pumps, geothermal boreholes, photovoltaics, radiant ceilings, all supplemented by superior air exchange with central ionisation – will contribute significantly to the overall interior comfort and the economic and sustainable operation of the building. An important element of the project are green roof terraces, a residential square with a water fountain, greenery and relaxation areas and park landscaping, which will allow for further management of accumulated rainwater.  In terms of the public space, the development will contribute significantly to the permeability of the area with a unique element for pedestrians, the “Lombard Stairs”, strikingly reminiscent of the famous Lombard Street in San Francisco. The building will be LEED PLATINUM, PENB A certified and will meet EU TAXONOMY parameters.

The completion of the acquisition of the land after 25 years of effort is of strategic importance to Passerinvest, as well as the development of Brumlovka as a whole. This land is earmarked for future office development and a major transformation of the public space into a park.

Brumlovka has been awarded Fitwel certification and is the only site in continental Europe to receive its highest rating

At the start of 2025, the Brumlovka site, which is spread over an area of 25 hectares, was awarded the prestigious Fitwel certification with its highest rating of three stars, the first and only to receive this top rating in the EU. This American certification, based on more than 7,000 American studies with the aim of promoting mental and physical well-being, evaluates sites from the perspective of users and assesses health, environmental and social aspects. In order to receive this award, Passerinvest produced the results of 68 parameters and submitted 246 documents. Brumlovka scored highly, for example, in healthy lifestyle, blue-green infrastructure, healthy working environment, accessibility to transport, amenities, support for social life and many other areas.

“Our company, belonging to the Lord God, prides itself as an urban developer on the long-term sustainability of its projects with the emphasis on ensuring a quality of life for the people who live, work or spend their free time in them. I believe that our determination and clear vision, combined with perseverance even in times of economic stagnation or decline, which have been repeated in irregular cycles for a quarter of a century, will bring benefits that enrich the whole of Prague. At the same time, I am delighted with the highest Fitwel certification rating, which this year was awarded for the first time in the EU to the entire Brumlovka site. This is also an important confirmation to us that our lifelong efforts and work have meaning and bring benefits not only to current but also future generations,” adds Radim Passer, founder and CEO of Passerinvest Group, a.s.

Passerinvest is also continuing to develop Prague’s Roztyly district. Following the Roztyly Plaza building, other office and residential buildings will be built here.

Last year, the company completed the 23,000 m² Roztyly Plaza office building in Prague’s Roztyly district and obtained a building permit for the 33,000 m² Sequoia office building. Sequoia, on which preparatory construction work is already underway, will provide future users with office space on eleven floors. It will be a building based on long-term, sustainable, economic operation. To achieve this, it will use, for example, a well-conceived system combining heat pumps, radiant ceilings, photovoltaics, air ionisers and outdoor blinds. The design also includes a pumped storage heat pump to maximise energy use in the building. At the moment, the final project in the pipeline at this site is the Arboretum Residence. This will provide approximately 400 apartments for sale and 250 for rent.

On both sites, a total of 5,5 hectares of public space, greenery, parks, playgrounds, sports fields and water features will simultaneously be transformed and cultivated to fulfil the strategy of company cities, including for relaxation and recreation.

Eduard Forejt, Business Development Director at Passerinvest Group, a.s., adds:

“Our customers’ key parameters and requirements include, above all, a healthy working environment, modern and efficient office space, flexibility for potential future expansion, the possibility for temporary use of fully equipped offices and also quality facilities for employees. This includes public spaces for shopping, eating, relaxing, sport and housing, as well as access to nurseries and schools for children. Our projects all actively complement this in Prague 4 and I am very pleased that we can meet both the needs of individuals and also smaller and larger companies and multinational corporations. The new buildings in the pipeline and under construction actually complement the whole urban environment which we, as an urban investor, want to expand. And yet, they reflect all our experience and efforts as a long-term investor. I am not shy of saying that we are moving the boundaries of comfort in them that little bit further.”