The renowned Kotva shopping center at Náměstí Republiky is set to close for a significant renovation, scheduled to start in summer and last for three years.

The final day of operations for the shops within the shopping center is slated for Thursday, February 1.

Many shops are currently offering substantial discounts of up to 50% in light of the impending closure. The shopping center, recognized as a protected architectural monument, is owned by Generali Real Estate.

According to Prague 1 councilor Karel Grabein Procházka, the store will remain a combination of shops and offices, with a restaurant on the upper floors, when it reopens sometime in 2027.

While the façade materials will be renewed, the building’s overall appearance will remain unchanged, under the careful supervision of the original architects.

“The most noticeable external change will be the replacement of the current entrance to Albert supermarket with a new circular entrance to the shopping center’s underground floor,” revealed Marek Vacha of the Institute of Planning and Development of Prague.

Procházka noted that Kotva was once one of the best shopping centers in communist Czechoslovakia. “However, times have moved on, and you can find better areas,” he noted.

Kotva was ceremoniously opened on 10 February 1975 at the Náměstí Republiky square to become a showcase of the normalization period and a symbol of abundance and wealth.

The building with its original dark façade and a honeycomb-like floor plan is made up of several interconnected hexagons. It has five aboveground and five underground floors.