The Supervisory Board of DPP approved the contract for the joint venture Nádraží Holešovice

Prague - The Prague Public Transit Company (DPP) will sign a contract regarding a future agreement concerning the planned joint venture for the development of the area around the Nádraží Holešovice metro station with the companies Karlín Group and CPI Property Group. This was approved today by the supervisory board of DPP. The company aims to secure the construction on unused plots around the station with the assistance of private investors.

The joint venture was established by the city in 2021 with the company Karlín Group, and later, another development firm, CPI Property Group, became involved. According to the resolution approved today, the transaction through which the company will acquire development land from DPP will be valued at least 173 million crowns.

The joint project includes the renovation of the northern vestibule of the metro station and the construction of administrative and residential buildings in the surrounding area. DPP owns plots near the station that, according to previous statements from city and company representatives, are undevelopable without an agreement with the owners of adjacent parcels. The construction will connect with the building project in the neighboring Bubny-Zátory area.

DPP Director Petr Witowski previously told ČTK that an architectural study will be created for the planned construction and modifications of the station, and the preparation of the project and permitting process will take some time, so work around the station is not expected to begin in the near future.

The joint venture has previously faced criticism, and its preparation was the subject of one of the audits commissioned by the city council due to the Dozimetr corruption case. DPP rejected the criticism, stating that cooperation with private entities abroad is a common and effective way to enhance assets, and the conditions for cooperation are set favorably and transparently for the city.