The Transport Authority and the City of Prague will resolve their property relations. The Prague City Council today approved the exchange of 359 plots of land between the Prague Transport Authority and the City of Prague. The Transport Authority will dispose of unused land and acquire the tram line from Braník to Modřany, which has been owned by the capital city.

The Transport Authority owns 359 plots of land with a total value of CZK 724.89 million at various locations across the city, which it considers superfluous. In exchange for transferring them to Prague, the Authority will receive the tram line leading from Braník to Modřany, which is currently owned by the city. It is worth over CZK 741.96 million. The Transport Authority will compensate the city for the difference of approximately CZK 17 million. 

“Today’s approval of the exchange has resolved long-standing reservations expressed by the Transport Authority’s auditors who disapproved of the use of each other’s land by the two parties. I am glad that we have brought the years-long negotiations between Prague and the Transport Authority to a successful end,” says Adam Zábranský, Prague Councilor for Property, Transparency and Legislation.

“After other exchanges of real estate between the state and the city, Prague will benefit from this transaction with the Transport Authority. The city will find a better use for these plots of land to the benefit of its inhabitants,” says Bohuslav Svoboda, the Mayor of Prague.