At the end of May, Prague approved the establishment of Prague Development Company (PDS), a new organization financed from the municipal budget. The company has now been launched. PDS will focus on new housing and other construction projects in locations owned primarily by the city.

The main goal for the coming months is to prepare several specific projects for the zoning procedure, with a focus on the city’s current needs and requirements, construction and operating cost effectiveness, and architectural value of the buildings and the entire locations.

The result should be an improvement of the city’s property and an expansion of its housing stock. The initiative will benefit private businesses, too, as they will be able to work on construction projects in locations where key parameters have been agreed and no serious obstacles should emerge.

Foto: FB praha.eu