CPI Property Group breaks ground on the new IGY centre for CZK 750 million

Real estate investment company CPI Property Group has started the construction of a retail project New IGY Centre in České Budějovice, which involves the upgrade and modernisation of the existing IGY Shopping Centre and the construction of the new building, IGY2. The laying of the symbolic cornerstone plot on streets Pekárenská and Pražská třída was undertaken by Zdeněk Havelka (Executive Director, CPIPG), Jiří Svoboda (Lord Mayor of České Budějovice), Petr Beránek (Construction Director, CPIPG) and Martin Plch (Division 3 Director, Metrostav). “We greatly appreciate the opportunity to invest in České Budějovice. CPI Property Group’s New IGY Centre is one of the most significant construction projects this year. Our goal is for a pre-Christmas completion in the autumn of 2017 and will soon become a popular favourite for shopping, work, leisure activities and entertainment within the South Bohemian metropolis," said Zdeněk Havelka. Investment in the construction of IGY2 will reach CZK 420 million and the renovation of the current IGY is expected to be an additional CZK 330 million.

The existing IGY Shopping Centre, which has been opened for ten years, required both revitalisation and expansion with a view to increasing customer demands, maintaining competitiveness and increased demand for shops and services. "Rather than new projects, the market focused on the facelift of the interior and overall modernisation of existing shopping centres. These retail centres are gradually becoming obsolete, and if they are to prosper, it is necessary to commit to significant investment. This is currently a leading proposition for our real estate group CPI, which now begins with the transformation of Pražská třída in the České Budějovice city centre," says Tomáš Salajka, (Director of Acquisitions, Asset Management and Sales of CPIPG). In the presence of investors, city representatives and other distinguished guests the ceremonial tapping of the foundation stone realises the modernisation project of the shopping centre IGY and its annexe IGY2. This expansion increases the existing business area from over eight thousand square metres to more than 29,000 m² of retail space with a total of 130 shops and 700 parking spaces. Customers can look forward to a nine-screen multiplex cinema, two retail floors with a large combination of shops, services and entertainment, as well as restaurants, cafes and a food court. "Negotiations on future tenants have run very successfully however, due to contractual obligations, unfortunately, we are not able to disclose specific company names. I understand that there will be a more extensive range of fashion brands, sports and electronic retailers and entertainment," said Tomáš Salajka. The project will have its administrative centre, with nearly 5,000 m² of modern office space. The opening of the New IGY Centre for the public is scheduled for the autumn of 2017 and will be unquestionably the largest and most dominant shopping centre in České Budějovice and Southern Bohemia Region. The growing interest in the new IGY centre highlights the popularity and success among customers, which is an additional success of the city and its citizens. "The transpiration of the extension and further construction of the existing IGY is good news not only for investors but also for the city. The original architecture of the existing IGY building will be replaced with a modern and architecturally engaging complex that visitors will soon discover," says Jiří Svoboda, Mayor of České Budějovice.

With its distinctive architecture and unique design, the new IGY Centre will give the street Pražská třída a modernised, up-to-date facelift and grants its surroundings a more contemporary element to its lifestyle. The architectural design for the reconstruction and development emerged from Atelier 8000 and Chapman Taylor, the general contractor is Metrostav. Both construction projects will be conducted simultaneously, while the majority of the construction of the new building will be accomplished by the end of this year. Subsequently, work on the building envelope will soon be evident in its final configuration with work progressing to the interior of the central building. Increasingly, there will be a transformation of the business premises according to the requirements of future tenants. The main architectural goal is to revive and enrich the existing space and to create a dominant structure that will captivate and appeal to visitors. The creative concept appropriately enables selected attributes of the building such as the height of architectural elements and the comprehensive image of the facade. The non-traditional shopping centre with its sky bridge links the two structures over Pekárenská street. The interconnection will be conducted at such a height that underneath, pedestrians will be able to continue to pass and use public transport.


Jakub Velen

Jakub Velen

PR & Marketing Director/Spokesman
CPI Property Group