The city of Prague will work to establish a city development company in order to promote the development of large zones in the city where progress has become stuck. Prague’s city councilor in charge of development Petr Hlavaček says the concept of a city development company is normal in cities like Munich. “It’s worked there since 1918. Its current form developed over many years in cooperation with the private sector. He says that in the first phase the company would focus on the choice of appropriate pieces of city owned land and would coordinate their development with private investors. “It also concentrates on large areas of reconstruction around future metro stations,” he told the Prague Daily. While the company would be operated at first through the Institute for Planning and Development (IPR) it should eventually be transformed into a city-owned company.
Photo: Anna Solcova
