Prague’s Public Transport Company wants to partner with developers to expedite land buyouts for the construction of the D metro line. The land around the planned metro stations has attracted strong interest from developers active in Prague, including Penta, Passerinvest, Sekyra Group and HB Reavis. Through a JV, Prague would be able to offer more for the land than their estimated values. Consultants at EY and PwC say similar JV projects were already realized in the UK, Australia and South Africa, according to the server e15. Penta’s spokesman, Ivo Mravinac, said the developer would support the plan if a JV would speed up construction of the fourth metro line. Other developers hint, however, that development around the planned metro stations would have to be on a really large scale to guarantee returns on the land buyouts.
