Council of the head The City of Prague has approved the next step in the investment preparation of the multifunctional project at the corner of Durychova and Libušská streets in Prague 4. It will be located right in the center of the new city district called Nové Dvory.The project will consist of two buildings named Nové Dvory Vestibul Jih (Project 1a) and Nové Dvory Vestibul Sever (Project 1b) located directly above the new metro station D. The buildings will include urban apartments, civic amenities and a community and cultural hall. The Prague Development Company (PDS) will launch a tender for a design contractor in accordance with the decision of the City Council. Prague and will start detailed design preparation of both buildings.

"On 15 hectares of city land entrusted to PDS for management, PDS is preparing a total of almost 300,000 m2 of gross floor area mainly for urban rental housing, which is about 2,000 apartments, and about 130,000 m2 for administration, restaurants, cafes, shops and services, which will bring up to 5,000 new jobs. In addition, a kindergarten, primary and secondary school, a cultural centre and sports facilities. The preparation of the new district is taking place in parallel with the preparation of transport services in the form of the construction of a new metro station and the extension of the tram line from Modřany. The area is divided into individual projects, which will be implemented gradually. We expect that the whole could be completed within 10 to 15 years, " says Petr Hlaváček, Deputy Mayor of the Capital City of Prague. Prague's Deputy Mayor for Strategic and Territorial Development.

The Prague Development Company (PDS) was established on the initiative of Petr Hlaváček on 1 June 2020 as a contributory organisation of the City of Prague. Its aim is to value the real estate assets of the capital city. Prague's real estate assets and the preparation of projects, especially urban rental housing, in order to expand the city's housing stock and offer it especially to representatives of the so-called preferred professions and single parents. The PDS was established by decisions of the City Council of the Capital City of Prague. The decisions of the Prague City Council handed over to the PDS for management approximately 800,000 m2 of land owned by the capital city, on which it is planned to build 6,000 to 8,000 flats in a horizon of up to 10 years.