Prague - Generali Real Estate has acquired the Kotva department store on behalf of the pan-european fund “Generali Real Estate Asset Repositioning S.A.” (GREAR) - a fund dedicated to value add strategies in all the major European countries - from the real estate company PSN.
Sekyra Group will be in charge of development and extensive refurbishment project, to return Kotva to its former glamour and position it as a high-level shopping destination in the historical center of Prague.
Kotva Department Store is a 28,000 sqm, 7 storey building ideally positioned in Náměstí Republiky (Republic Square). Designed in the ‘70s by the renowned Czech architects Věra Machoninová and Vladimír Machonin, it is well recognizable for its still innovative architecture, characterized by a honeycomb pattern. The building has recently been listed among Czech cultural monuments for its architectural and historic value.
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