One of the biggest problems the city of Prague has with building a new metro line has always been that it doesn’t own the land it needs in order to build the needed stations. Complicating matters is the fact that the city is by law unable to buy that land for prices above what official estimates determine. Prague’s solution for this was to create a joint venture with a property developer. The boss of the city’s transport company Martin Gillar told Hospodářské noviny that Penta has been given the nod to become that partner, who would be expected to inject the JV with an initial CZK 500m. The eight new stations to be built will of course become valuable locations and create new opportuities. The other developers involved in the tender to become the city’s partner were Geosan, Trigema, Landia Management a Karlín Group together with Ungelt Group.
