Developer PSN has received a building permit to construct a large residential complex on the site of the former Koh-i-Noor industrial factory in Prague’s Vršovice district.

The project will deliver around 600 apartments, combining new residential buildings with the reconstruction of historic factory structures. Two listed buildings from the former industrial complex will be preserved and converted for residential use.

According to the developer, the most visible industrial landmark of the site, the original factory chimney, will remain intact. It is expected to continue shaping the Vršovice skyline and serve as a visual link to the area’s industrial past.

The residential block will also include public spaces, local services, and community facilities, aiming to integrate the development into the surrounding neighborhood rather than function as a closed housing enclave.

PSN has not disclosed the total investment value of the project. Preparatory work is scheduled to begin in the second quarter of this year. The developer plans to present the final architectural design to the public later this year.

Construction will be carried out in at least two phases. According to PSN Development Director Štěpán Smrčka, the full build-out of the site is expected to continue until 2030.

PSN has operated on the Czech real estate market since 1991, originally under the name Prague Real Estate Management. The company was founded by former banker Václav Skala, who later transferred ownership to his son Max Skala.

The company owns and manages properties in Prague, Pardubice, and Hradec Králové. Its best-known assets include the Dancing House, the House of Fashion on Wenceslas Square, and City Empiria in Prague’s Pankrác district. Until 2020, PSN also owned the Kotva department store.

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