Havel & Partners has advised the City of Prague on Passerinvest Group’s CZK 184 million investment to develop the area where its real estate project is being implemented, according to the new Prague methodology of investor participation.
According to Havel & Partners, this is the first agreement made “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.” Furthermore, “the developer will contribute nearly CZK 46 million to the development of the area [near the Roztyly metro station], 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.”
Havel & Partners’ team included Partner Frantisek Korbel, Counsel Jan Fikar, and Associate Tomas Kalensky.