A long-neglected eyesore in Prague 8–Libeň is finally getting some attention. The Palác Svět (World Palace) complex was once a favorite hangout of writer Bohumil Hrabal as well as counterculture poet Egon Bondy and painter Vladimír Boudník. The constructivist red-tiled façade is most notable for its long-broken Kino Dukla neon sign and rusted steel globe ornament on its roof.
The first stage of renovation has begun with, the automat in the side building being torn down completely as it is beyond repair, according to news server Aktualne.cz. That section will be replaced with a replica. The rest of the building complex will be stabilized to keep it from collapse. The demolition of the unsalvageable section is allowed by the existing building permit, Prague 8 council member Matěj Fichtner (TOP 09) told the server.
The complex is owned by Czech-registered Crispino nemovitosti, which in turn is owned by Bahamas-registered Soki Investments Ltd. The building was purchased in 1998 in an already poor state. It was further damaged by floods in 2002 and the owners sought to have it entirely demolished. Permission was denied based on the building being designated a cultural monument. Both sides finally agreed on how to proceed in January of this year, and the building will be restored rather than torn down, the server said.
Italian businessman Antonio Crispino is reported to be behind the renovation, which will include shops, a restaurant and a café on the lower floors and luxury apartments on the upper levels — but not a cinema. The timetable or the cost of the complete renovation has not been disclosed.
While the building is often mistaken for a communist era work due to its constructivist style, it actually dates to the First Republic. The reinforced concrete structure was built between 1932 and 1934 by architect František Havlena on land that was previously undeveloped. The principal investor was businessman Ladislav Svět, for whom the complex was named, according the Czech version of Wikipedia. Svět, an uncommon last name, translates as “world.” Architecturally the building’s foundation and lower floors are below groundwater level and were specially protected with a giant lead casing. The cinema was named Dukla in 1955, to commemorate the 1944 battle in Slovakia.
During World War II, the complex housed the municipal insurance company. The building was nationalized in 1947. In 1962 it was transferred to the Prague 8 housing authority. After 1989, some 17 tenants won control of the building, but could not find an investor. It was then sold to Ekoagrobanka, which became part of Union Banka, before being sold for the last time in 1998.
