Specialists from HAVEL & PARTNERS, led by partner František Korbel, counsel Jan Fikar, and associate Tomáš Kalenský, represented the City of Prague in the successful negotiation of the first cooperation agreement in accordance with the Prague Methodology of Investor Participation. On the basis of the Methodology, developers financially contribute to the development of the area in which their development project is implemented.

At its June meeting, the Prague City Assembly approved the first negotiated cooperation agreement according to the Prague contribution methodology, thanks to which PASSERINVEST GROUP will invest almost CZK 184 million in the area near the Roztyly metro station. The developer will contribute nearly CZK 46 million to the development of the area, and will build a traffic feeder, an extensive park, several elements of blue-green infrastructure and part of a cycle path in the same location for a further CZK 138 million.

“Our Investor Participation Methodology, which we have been working on for more than two years together with HAVEL & PARTNERS and Frank Bold, has already produced tangible results. I appreciate the work of the entire municipal team and colleagues from the legal teams who managed to draft the first contract with the investor. The agreed participation of developers in the development of Prague is a major step forward in the area of land use planning and financing the construction of much-needed primary schools and kindergartens, parks and other necessary public infrastructure,” said Petr Hlaváček, 1st Deputy Mayor for Development of the Capital City Prague.

“I believe that we have managed to project our experience from the drafting of the Prague Contribution Methodology into the successful negotiation of the contract with the developer. We appreciate the fact that we could participate in such a project, which will bring to the capital city and the respective city district mainly a three-hectare park, a cycle path, abundance of blue-green infrastructure, and several tens of millions of crowns,” added František Korbel, partner of HAVEL & PARTNERS.

For HAVEL & PARTNERS, this is another successfully closed deal in the field of urban planning. Specialists from the Public Sector team have long worked with municipalities to develop cities and towns through investor participation. Together with other activities, such as the preparation of a new building law, they also seek to improve the current situation in the construction and zoning sector.