Tuesday, 15 September 2026
The ownership structure behind Prague’s Savarin development is changing following regulatory approval for the entry of J&T and a company associated with Czech investor Richard Morávek into the major city-centre project. The Czech Office for the Protection of Competition has cleared the transaction involving J&T RFI VIII and PERRARUS HOLDING. Following completion of the deal, Savarin JV will be jointly controlled by Savarin HoldCo and JPTR, with J&T RFI VIII and PERRARUS HOLDING participating through JPTR alongside Crestyl’s existing involvement in the development.
The competition authority concluded that the transaction would not create significant competition concerns. Financial terms and the size of the interests being acquired by the incoming investors have not been disclosed. The arrival of additional investors represents another step in the development of Savarin, one of the largest regeneration schemes planned in Prague’s historic centre.
Located immediately beside Wenceslas Square, Savarin is intended to open up a substantial part of an existing city block that has historically had limited public access. The development will establish pedestrian connections between Wenceslas Square and Na Příkopě, Panská and Jindřišská streets, combining new commercial uses and public areas with the restoration and reuse of historic buildings.
A restored former riding hall will form one of the principal elements of the development. The surrounding area is planned to include a new public square and garden, together with restaurants, cafés and other commercial premises. Cultural and exhibition spaces are also included in the wider concept, alongside an additional entrance to Prague’s metro network.
The masterplan has been developed by Heatherwick Studio, the London-based architecture and design practice founded by Thomas Heatherwick. The concept combines the preservation of important historic structures with new buildings, pedestrian routes and publicly accessible spaces within the existing urban block.
Crestyl has already completed the restoration of the Baroque Savarin Palace as an initial stage of the wider development. Future phases will extend the transformation deeper into the surrounding courtyards and connect areas that are currently separated from the main pedestrian routes through this part of central Prague.
Savarin is currently scheduled for completion in 2029. The entry of J&T and PERRARUS HOLDING into the investment structure brings additional capital partners into one of the most prominent redevelopment projects around Wenceslas Square as it moves towards its next stages.
