Prague 11 City Hall opened the way for the development of a highrise office building in Jižní město by agreeing to sell the plot at Litochlebské square. Prague 11 Mayor Dalibor Mlejnský said the municipality will sell the 4,500 sqm plot at the roundabout for CZK 38m to a company called Tweelingen, which already owns some other plots around the square.
The idea has provoked controversy among residents who typically oppose construction of highrise buildings. But the transaction has also drawn suspicion on the basis that Tweelingen has no track record in real estate. The company issued 10 bearer shares and is based in Prague 6 in an apartment building, according to the weekly 5+2 dny.
