Central European investor and developer Orco said on Wednesday that it has received the occupancy permit for the first phase of its Palace Archa scheme in the centre of Prague. Palace Archa is in the former SOB bank building situated in downtown Prague.
Central European investor and developer Orco said on Wednesday that it has received the occupancy permit for the first phase of its Palace Archa scheme in the centre of Prague. Palace Archa is in the former SOB bank building situated in downtown Prague.
The company owns the whole property, including the passage and courtyard and has planned to transform the building into a modern multifunctional project. The first phase totaling 7,500 m2 was officially delivered on 20 March while the completion of the second phase is planned for Q1 2009. SOB will stay on in the building, with Robert Half International joining as one of the new tenants. The passage will represent the entertainment part of the project and will provide the visitors with an opportunity to enjoy their leisure time in the Archa theatre, which is sponsored by Orco Property EUR 64mln.
