First batch of municipal land assigned to Prague Development Company valued at three billion crowns

First batch of municipal land assigned to Prague Development Company valued at three billion crowns


9/23/2021

Prague Development Company (PDS) has performed the first ever market valuation of 10 locations where it is planning new, primarily housing construction. The market price of the assets as of 1 June 2021 was estimated at3.939 billion crowns by Knight Frank, a renowned international advisory company. Until now, Prague registered only the book value of its assets, which is significantly lower. PDS intends to evaluate its portfolio of real properties once a year, a common practice among private property managers. The current market value will serve as a key indicator for Prague’s strategic decisions in asset management.