The Prague City Assembly approved a direct purchase of Czech Post’s building in Na Strži Street in the Krč district for CZK 425 million. The city is acquiring a key real estate in this area for its further strategic development. The City of Prague and the Czech Post are expected to sing a contract without delay.

The purchase price agreed by the parties amounts to CZK 425 million. The transaction includes plot of land with an office building, a garage building, and a driveway. Under the agreement, Czech Post is renting the building from Prague for the next 15 years to provide its services.

The acquisition of the land in question (including buildings and accessories) will increase the value of the land already owned by the capital city in this location. Merging existing real estates with the newly acquired land will create a more valuable and larger area of strategic importance. Its further development will be subject to an effective and intensive long-term coordinated effort of all relevant stakeholders on the part of the city, municipal organizations, city districts, and state bodies.