17 March 2025
The Vltava Philharmonic Hall is in the phase of preparing documentation for the construction procedure. Along with the technical refinement of the project documentation, the capital city is also planning a comprehensive preparation of the transformation of the entire site. In addition to the design of the public space directly related to the building of the future national music centre, it also includes investment actions resulting from the concept of the development of the area according to the Holešovice Bubny-Zátory Zoning Study. The Council of the Capital City of Prague will be responsible for the construction of the new building. The Prague City Council approved all these investment plans and confirmed that these actions will be dealt with in a coordinated and joint manner as a single project.
Investments in the Vltavská area and its surroundings will be dealt with together, taking into account the complexity of the area. "The Vltava Philharmonic Hall is the initiator and accelerator of the development of one of Prague's largest brownfield sites. Its construction, together with the revitalisation of the adjacent surroundings, initiates the transformation of the Vltavská locality into a modern urban district that will offer quality housing, civic amenities and new job opportunities. The implementation of all projects in the area will create a new attractive public space that will serve not only music lovers, but all residents and visitors to the city," explains Petr Hlaváček, Deputy Mayor of the City of Prague. Petr Hlaváček, Prague's Minister for Territorial Development and Planning.
To coordinate all investment projects, the Council of the Capital City of Prague. The City of Prague establishes a permanent directors' group. Its members are representatives of the relevant departments of the City Hall. The members of the Prague City Department and the municipal organisations to which individual investment projects and their implementation are assigned. The coordination and management is entrusted to the Prague Development Company, which is responsible for the preparation of the Vltava Philharmonic Hall. The aim of the group is mutual cooperation and efficient investment of funds. There is also intensive coordination with other entities and projects in the area that are not under the responsibility of the City of Prague. Prague.
Total construction costs of the projects of the Capital City of Prague. The amount includes the financing of the construction of the Vltava Philharmonic building in the amount of CZK 11.65 billion, the implementation of the adjacent public space (CZK 410 million), the commissioning of the building (CZK 1 billion), investment actions according to the Holešovice Bubny-Zátory Zoning Study (approx. Prague, which must be coordinated with other projects in the area (approx. CZK 1 billion).
There is also a significant synergy of investments by the city, private entities and other state organisations, such as the Railway Administration, which is modernising the Praha-Bubny station in the area. All estimated construction costs of the so far known projects under preparation in this part of the transformation area thus amount to approximately CZK 23 billion.
"According to a detailed architectural study completed in September 2024, the estimated cost of constructing the Vltava Philharmonic Hall building itself amounts to CZK 11.65 billion. The competition design from April 2022 anticipated project costs of CZK 9.4 billion, representing an increase of 22.5%. This increase was accepted by both the Commission of the Capital City of Prague for the Construction of the Vltava Philharmonic Hall and the Prague City Council in September 2024. The first reason for the cost increase is the recent economic developments, which have led to changes in the price levels of construction materials and labor. The second reason lies in the detailed refinement of the building's operational, structural, functional, and technical solutions, the addition of required spaces, and the overall optimization of the building’s use. Compared to the competition design, the volume of the building has thus increased by 13%," explains Martin Krupauer, head of the Vltava Philharmonic project team.
