Prague has a development plan for the Prague Market

Prague has a development plan for the Prague Market


6/6/2020

The City of Prague has a clear plan for the future of the Prague Market – a protected historical market area in the heart of the city, which is larger than Prague Castle. There have been studies describing all the services the place is going to offer to the citizens, the layout of the area, and improved access, as well as aspects such as a system to collect rainwater for maintenance of a copious amount of greenery. The focus will be on economic sustainability of the Market as well as on a wide offer of services for all Prague citizens.

 The new vision for the Prague Market is based on two studies drawn up by renowned consultancies in collaboration with the Prague Institute for Planning and Development. An economic feasibility study has been authored by a consortium of consulting companies JLL and 4ct which specialize in urban planning and real estate advisory. An urbanist and architectural study was compiled by Vít Máslo’s CMC Architects.

 The studies present a strategic development plan for the area and its operations for decades ahead. The economic feasibility study is based on an analysis of both the current status and historic development and provides recommendations for a suitable mix of services and their placement within the area, taking into consideration experience from the commercial real estate market.

 The Prague Market is to become a place of municipal and potentially national importance, resembling former industrial premises Kødbyen in Copenhagen, Denmark, or Matadero in Madrid, Spain.