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:

Budějovicka passage set for demolition
The enormous concrete passage next to the DBK department store in Prague 4 is to be torn d  »
Prague studies C line metro extension to Čakovice
Along with the new D line, Prague is also considering whether to extend the C line, which  »
Czech government plans PPP project for D4 completion
The Czech government that's being formed expects it will entrust the construction of  »
Liben bridge dilemma complicated by blame game
Confusion continues to rule the day over the fate of the Liben bridge which connects Pragu  »
It was quite clear to Ben and me when we were talking about Savills about what we wanted t   »
As recently as 8 years after the beginning of the financial crisis, the only local investo   »
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   »