The Prague Congress Centre, formerly known as the Palace of Culture, has officially gained sole ownership of the venue after an exchange with the state. The Czech venue, located in Prague 4 next to Vyšehrad metro station boasts 70 halls and lounges, with a total capacity of nearly 10,000, including the main Congress Hall seating up to 2,764 delegates.
In return for full ownership of the Prague Congress Centre, the state will receive Faust House on Karlovo náměstí, a section of Homolka Hospital, and the car park in front of the Ministry of Foreign Affairs. Prague will compensate the state with 2.21bn CZK to equalise the property values, with the exchange approved by the government, according to the Ministry of Finance.
Until now, the Czech Republic held a 54.35% stake in the venue, while Prague owned 45.65%. Prague Congress Centre stands as a flexible, cutting‑edge venue for international congresses, cultural events, and exhibitions, also featuring a rooftop solar array supplying about 10% of its electricity.
