The Czech Antimonopoly Board (UOHS) has approved a deal between the Prague Transport Company (DPP) and the company Nové Holešovice Development on the renovation of the Holešovice metro train station and development on land around it. Nové Holešovice Development is controlled by Karlin Group which owns land adjacent to the station that’s supposed to be developed. The property company CPI objected to the joint venture, claiming that DPP should have held a public tender in order to decide who its partner would be. The company has 15 days to appeal the ruling by UOHS.
DPP, which sought legal advice from Fröhlich & Partners a Havel & Partners when setting up the project, appears confident in its approach. “From the beginning of the project, we were convinced we were proceeding correctly,” it wrote in a New Year’s press release. “We’re pleased that the correctness of our approach in forming a joint venture has been confirmed once by UOHS.” DPP’s chairman said the area to be redeveloped had three land owners: DPP, the City of Prague and Nové Holesovice Development. “Without their agreement no sensible construction would be possible…that’s why establishing cooperation between the three sides was the most effective solution for revitalizing the area. In its ruling, UOHS wrote that it had found no reason to question the validity of the decision to create the joint venture.
