PDS plans new Prague districts with 8000 flats in 12 locations

22
Jun
2022
News - PDS plans new Prague districts with 8000 flats in 12 locations #brownfield #city #Czech Republic #development #Prague #rents #residential

by Vera Tumova | Residential

Palmovka in Prague 8 and Nové Dvory in Prague 4 are the largest areas where Prague development company (PDS – Pražská developerská společnost) plans the largest changes and development of new districts. PDS is preparing projects in a total of 12 localities where up to 8,000 urban rental flats should be built, announced the company director Petr Urbánek together with the Deputy Mayor of Prague, Petr Hlaváček at a press conference.


A series of residential projects in 12 Prague localities is now in the preparation of the Prague Development Company (PDS), which is a contributory organization of the City of Prague for the development of the city's housing stock. The 850,000 sqm of urban land is expected to be developed into 8,000 flats within 15 years. Some of these projects have already selected their designers, while PDS has announced tenders or architectural competitions for others. According to Petr Urbánek, the director of PDS, the financing of individual projects should be developed gradually as individual building permits will be obtained. "We will now examine various financing options, including alternative ways. We will have the first results of these analyses in about two months," Urbánek notes.

One of the most extensive planned projects is in the Nové Dvory location in Prague 4. A new urban district with affordable rental housing and complete civic amenities, including new public transport lines, should be built on 30 hectares of land near the new metro station of the emerging D line. "After the change of the zoning plan, it will be possible to build 1600-2000 flats in Nové Dvory, which we will be able to use, for example, for single mothers. Construction in the entire district will take place in stages and will take about ten years," says Petr Hlaváček, deputy mayor of Prague for territorial development. Almost 300,000 sqm of gross floor area (GFA) will be used not only for urban rental flats but also for "130,000 sqm of office space, restaurants, cafés, shops and services, which will bring up to 5,000 new jobs, as well as a kindergarten and primary school, a cultural or community centre and a sports centre," adds Petr Urbánek, director of PDS.

The largest development area, which is owned by Prague City Hall, should also be transformed into a completely new urban district. This is an eight-hectare brownfield in Prague's Palmovka district (Prague 8), where 2,200 flats and about 50,000 sqm of additional space are being prepared. A new urban district should be created here, which, according to PDS plans, should become a vibrant centre on the right bank of the Vltava River. It is also planned to build not only residential housing for affordable urban living but also complete civic amenities, including schools, a cultural centre with a library and a central park with a promenade. PDS is also working with students of architecture on the urban and architectural design of its projects and according to their model, 60 different buildings in 12 blocks should be built here by 2033.




New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

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