History of Koruna Palace

Koruna Palace is located in one of the most prominent positions inside Prague: the corner of Wenceslas Square and Na Příkopě Street. Its name (koruna = crown) was taken from the building's corner tower, the top of which resembles a crown. At this time, Koruna Palace is the representative seat of Technoexport a.s., being also the owner of the building.

At the beginning of the twentieth century, an old building stood here – according to historical sources, one of the first buildings being built after establishment of Prague's New Town in the 14th century. In 1912, it was decided to demolish the corner building and the two neighbouring buildings to obtain enough space to build today's Koruna Palace for the life insurance company 'První česká všeobecná společnost pro pojišťění na život'. The architects of the project were Antonín Pfeiffer and Matěj Blecha.

A permit for construction was issued already in 1912, with the first main supplier being the engineering company 'Technická kancelář a podnikatelství staveb V. Nekvasil v Karlíně'. The structural analysis and reinforced concrete construction were carried out by the construction company 'Ing. Bohumil Kollman a spol. Praha 1'. Reinforced concrete was at the time a new technology even in other parts of the world; therefore, its use for construction of Koruna Palace can be seen as a courageous modern approach to progressive construction technologies.

The style of Koruna Palace is categorised as being so-called geometric modernism with late secession (art deco) inspired by geometric motifs leaning towards cubism. Unusual is its monumentality, generous space, and light construction. The building's sculptural decorations are the work of Vojtěch Sucharda, a leading sculptor of the early 20th century, who refers in this project to classical and mythological ideals.

The building was intended mainly for the insurance company's administration, with the representative interiors situated in the front part of the first floor, with windows facing Wenceslas Square and Na Příkopě Street. A café, restaurant and shops were located on the mezzanine and ground floor; the basement housed a swimming pool with a sauna.

Between 1974 and 1977, Koruna Palace underwent modifications so as to meet the needs of the foreign trade company Technoexport. In 1991, Technoexport initiated a project to transform Palace Koruna into a representative business and administrative centre that would retain the unique style of the building and location and provide it with a new purpose: support of commercial activity in the centre of Prague.