Prague advances CZK 16.5 billion Vltava Philharmonic project, launches fund

The planned construction of the Vltava Philharmonic Hall near Prague’s Vltavská metro station and related area modifications will cost the city an estimated CZK 16.53 billion, excluding VAT, according to a document approved by the City Council today.

The council also agreed to establish an endowment fund to collect private contributions to the project, which is expected to cost CZK 11.65 billion.

According to the timeline, construction is set to begin in 2027 and finish five years later.

The project will be divided into ten investments, managed by the city’s investment and transport department and the Prague Public Transit Company. In addition to the Philharmonic Hall’s construction, the city has allocated CZK 1 billion for its launch.

The remaining funds will go toward road, embankment, and metro station improvements. Danish architecture firm Bjarke Ingels Group created the hall’s design, which was selected in an international competition.

“The Vltava Philharmonic Endowment Fund is crucial for securing financing and ensuring transparency in this strategic cultural project. Its creation enables public-private cooperation, essential for success. I have great confidence in the fund’s leadership and believe the Vltava Philharmonic will become a symbol of Prague’s musical prominence, enriching both residents and visitors,” said Deputy Mayor for Culture Jiří Pospíšil.

The newly established endowment fund will receive an initial CZK 30 million from the city and seek donations from individuals and businesses. Its board will include business leaders, cultural figures, and politicians, such as Avast founder Pavel Baudiš, Prague Spring Festival director Roman Bělor, and former Finance Minister Miroslav Kalousek.

The initial estimate for the Philharmonic Hall was CZK 9.4 billion, but costs have risen.

“The increase is due to economic developments in recent years, including rising prices for building materials and construction work. Additionally, the detailed design process has led to structural, functional, and technical refinement, as well as the expansion of required spaces,” said Martin Krupauer, head of the project team.

The Philharmonic Hall will feature three underground and six above-ground floors and house three performance spaces: a main concert hall for 1,800 people, a chamber hall with 500 seats and a standing room, and a multifunctional hall accommodating 620 seated or 1,200 standing guests. The building will be home to the Czech Philharmonic Orchestra and the Prague Symphony Orchestra FOK.

City officials are also seeking state co-financing for the project. The new cultural center is expected to catalyze redevelopment in the Bubny-Zátory area, where a neighborhood for up to 25,000 residents is planned.

Ondřej Prokop, head of the opposition ANO group in the Prague City Assembly, criticized the council’s handling of large-scale projects. “Prague deserves a modern concert hall, but I have no confidence in the current City Council’s ability to deliver.

It has mismanaged ongoing projects like Metro D, the city ring road, and the redevelopment of the EU Space Programme Agency headquarters. Can anyone still believe the Vltava Philharmonic Hall will be an exception?” Prokop said.