Prague Archdiocese Plans to Sell Jindřišská Tower to City for 100 Million Crowns

The Prague Archdiocese has announced its intention to sell the Jindřišská Tower to the city for 100 million crowns, following Vatican approval. Prague Archbishop Jan Graubner confirmed the sale during a press conference, revealing that the proceeds would be directed toward funding religious education. This sale forms part of the church’s broader efforts to streamline its operations, anticipating a future where government subsidies will no longer be available.

Initially, the archdiocese listed the tower at 75 million crowns, attracting significant interest from potential buyers. The city’s offer, one of the highest, proved to be particularly appealing to potential purchasers.

In addition to the Jindřišská Tower, the archdiocese is selling the Clara Futura Hotel in Dolní Břežany, which was created through the renovation of a castle owned by the Prague Archdiocese for nearly 300 years. The church invested 250 million crowns in the reconstruction of the property between 2015 and 2018. Despite these efforts, the hotel has operated at a loss. The current tenant, investment fund Investika, has announced its intention to purchase the hotel.

The archdiocese noted that it has collaborated with Investika on various projects and that the fund has remained a reliable tenant, even during the challenging period of the COVID-19 pandemic. The sale of the complex aligns with the provisions of the lease agreement, and the property will continue to function as a boutique hotel, maintaining the operation of the local chapel.

To finance projects such as the reconstruction of a gymnasium and the construction of a speech therapy school, the Prague Archdiocese established the St. Ludmila Foundation in 2020. The new speech therapy school, expected to begin construction in spring 2024, will complement the existing Don Bosco speech therapy school, which lacks sufficient capacity.

The Catholic Church is strategically planning its investments, preparing for a future in which government subsidies for its activities will cease starting in 2030. In anticipation of this change, the Prague Archdiocese aims to generate the necessary funds, primarily through economic activities, supplemented by donations and potential grants, to cover its main activities, particularly its spiritual endeavors. The archdiocese estimates that it will require half a billion crowns to sustain its operations in 2030.

Article by Prague Forum

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