Prague Development Company (PDS), the city’s municipal development organization, is currently managing over 60 projects with plans to deliver 6,000-8,000 rental apartments within the next decade on 70,000 sqm of city-owned land.
Of this total, 23 housing projects (totaling 3,700 units) have received approval from PDS’s Investment Expert Committee, while 17 projects (2,100 units) have Prague City Council approval. The organization filed building permit applications for six projects containing 450 apartments in 2024. It hopes to win planning for another six projects – and 1,400 units – by 2026.
Beyond residential development, PDS projects include 80,000 sqm of commercial space expected to create 2,000 jobs, along with educational facilities. The projects emphasize sustainable development principles and must meet stringent investment and operational efficiency standards while fulfilling current environmental and energy requirements.
Major development areas include Nové Dvory, a 30 ha transformation zone surrounding a new metro station expected to be completed around 2029-2030. This mixed-use district will feature affordable rental housing, complete civic amenities, retail, and recreation areas.
In Dolní Počernice, PDS is developing an 18.5 ha area using garden city principles with approximately 800 housing units planned across family homes, townhouses, and low-rise apartment buildings. This development is divided into four phases targeted for implementation between 2026 and 2034, including infrastructure and a new school.
This project is part of the EU’s ASCEND initiative, which focuses on creating energy-positive and emission-neutral neighborhoods. The district will feature its own multi-source energy center and local distribution network utilizing geothermal and solar energy, cogeneration gas heating, and storage systems.
Prague has allocated over 700,000 sqm of municipal land to the organization for housing development that prioritizes essential workers and single parents.
PDS was founded at the initiative of deputy mayor Petr Hlaváček, who says that external financing will eventually be needed in order to ensure the city profits from the work so far.
“The city can finance several smaller projects from its own budget, however from a long-term perspective, we need to establish an effective and robust financing system,” he said. “Such a model should enable the involvement of additional partners, including institutions like the European Investment Bank and national financial instruments.”
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