Prague will sign a memorandum on the development of Palmova

Prague – The Prague City Hall will sign a memorandum with the transport company (DPP) regarding the future development of Palmovka. The document aims to ensure cooperation in decision-making about the future of the area surrounding the eponymous Metro B station. This is indicated in the document approved by the Prague councilors today. The lands in Palmovka are owned by both the city and the transport company. Palmovka is among the so-called significant development centers and has been in poor condition for many years. In the future, new construction is expected to arise here.

"This is one of the last larger land complexes strategically located in the capital city of Prague, where the city is the owner of the lands or is the controlling person in DPP," states the document. According to the document, the cooperation is to ensure a coordinated approach, especially in legal, design, economic, and urban planning steps.

In the western part of the area stands the unfinished Palmovka Center, where the city hall was supposed to have a new headquarters. Its construction was approved by Prague 8 in 2010, but it has not been completed due to disputes with builders, among other reasons. What will happen to the shell of the building is still unclear.

How the cooperation will look in the future should be decided by the end of this year. According to the approved document, there is a possibility of signing a mandate contract, a loan, or a so-called joint venture that both parties would establish. The joint venture was planned by DPP to facilitate the acquisition of lands under the previous leadership of Prague for the construction of the D metro line, but the current leadership has stepped back from it.