The value of urban land managed by the Prague Development Company (PDS) has reached a record high. According to the latest valuation by Knight Frank, it has risen to CZK 8.843 billion. The portfolio comprises 757,000 sqm of land intended primarily for residential development.
Since the first valuation in 2021, when the value was CZK 2.939 billion, the portfolio has seen significant growth. The original ten sites from 2021 have increased their value by more than CZK 3.6 billion to the current CZK 6.604 billion. The overall increase was mainly due to the approval of zoning changes at Nové Dvory and Palmovka.
The regular market valuation serves Prague as an important basis for strategic decisions on the disposal of municipal property. It will also be crucial for negotiations on the financing of urban rental housing projects that PDS is preparing.
"Thanks to our active approach to the management of urban real estate, Prague retains not only the land but also control over future construction," said Councillor Adam Zábranský.