MIPIM News: Prague mayor seeks consortium with developers on new metro line

MIPIM News: Prague mayor seeks consortium with developers on new metro line

Published at: 2017-03-16 18:18 | Author: CIJ Journal
Prague mayor Adriana Krnačová confirmed at the MIPIM exhibition in Cannes that the city is interested in partnering with real estate developers to expedite land buyouts for the construction of the D metro line. Land around the planned metro stations has attracted strong interest from developers active in Prague.

Mayor Krnačová said she hoped the city could create a consortium with some of them because land prices are currently too expensive for the city. She said the idea would be to create "an investment structure that would have a substantially better conditions and possibilities to buy the land at a different [i.e. lower] prices." The city would then build entrances to the metro while the developers would have the city's blessing to build around those access points. She said the city could complete the tunnel, build entrances on either end, and then complete the most critical stations first before finishing all of them.

Similar Stories:

Istropolis in Bratislava to change hands
The Istropolis building at the Trnavske myto transport junction in Bratislava’s Nové me  »
Slovak central bank: Wage growth to rise by 3.2%
Wages are expected to increase this year, according to the Slovak National Bank (NBS). The  »
Work on Hradec Králové-Smiřice section of D11 may start this fall
The Czech Transport Ministry is hoping to start construction of the D11 motorway between H  »
Businesses come together to plan new hospital in Bratislava
The Slovak Health Ministry has invited architects, construction companies, consultants and  »
How much do you have outstanding at the moment in terms of real estate lending, and are yo   »
How would you rate Romania’s investment market in 2015? Even though volumes were not   »
Foreign banks are rubbing their hands in expectation, as a new Polish bank tax is expecte   »
The manufacturing sector grew by 7.1 percent, while industry report a growth of 6.3 perce   »