PPF plans to build tallest Czech skyscrapers in Prague.

By bne IntelliNews June 30, 2011
Czech financial and investment company PPF plans to build two skyscrapers in Prague that are expected to be the tallest in the country, Hospodarske Noviny reported. The Prague Eye project, which is yet to apply for a planning and building permits, envisages the construction of one 30-storey tower that will be 138 metres tall and another 27-storey tower with a height of 127 metres. Both towers will be higher than the planned AT Tower in Brno which will be 111-metre high. PPF is controlled by Czech billionaire Petr Kellner. The group is active in banking, insurance, energy, metal extraction, property and retail sectors. PPFs consolidated net profit grew by 24% y/y to EUR 336mn in 2010. PPFs total assets reached EUR 12.4bn as of end-2010, up 15% y/y.

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