What: Kotva, the iconic department store in Prague, will close for 3 years in order to be rebuilt and upgraded.

Why it is important: Here also, the purpose is to go upscale and close the gap with the nearby Parizka street

The iconic Kotva department store in Prague 1 is set to undergo a comprehensive three-year reconstruction starting from February 1, aiming to rejuvenate its status as a premier shopping destination in the heart of Prague. Owned by Generali Real Estate, the renovation will preserve the store's mixed-use function, featuring shops, offices, and a restaurant. The renovation, beginning mid-year, includes creating a new circular entrance on the underground level and closing the current entrance to the Albert supermarket.

Kotva's rich history began in the 1970s, constructed by Swedish firm Siab and inaugurated in 1975. Known for its distinctive hexagonal design and five floors, it attracted up to 75,000 visitors daily in its prime. However, post-communism, its allure waned amid growing competition. The City of Prague’s Institute of Planning and Development aims to enhance the surrounding public spaces significantly. In anticipation of the closure, tenants have been offering substantial discounts, with some already vacating. Despite the transformation, officials promise to retain Kotva's characteristic appearance, with oversight by the original architects' successors. The revamp is speculated to introduce upscale retail, aligning with nearby Pařížská Street's luxury offerings. Details of the reconstruction remain undisclosed, with a prior renovation undertaken between 2020 and 2021. Public engagement on the project's impact on adjacent spaces is expected to occur later this year.

Prague’s department store to close for renovation until 2027