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:

ANO forecasted to win Czech general election
Despite a slip in popularity over the last several months, Andrej Babiš’ ANO party is s  »
Czech state wins arbitration battle with German solar investors
The Czech Republic won’t have to pay CZK 0.5bn in damages and lost profit to three Germa  »
Park Jama to open in Bratislava
Czech Republic  ♦  Park Jama to open in Bratislava
A new green park is nearing completion in Bratislava. Called Park Jama, the recreational a  »
Massive investment projects planned for Prague Airport
Prague’s Václav Havel Airport is planning to invest into new dispatching systems for Te  »
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   »