Balcar, Polansky & Spol. has advised Skanska Reality on its CZK 841 million purchase of eight hectares of land for the development of a housing project in Prague-Vysocany from Codeco UK. The sellers were represented by Radek Budin of Advokatni Kancelar Holub.
Skanska Reality plans to develop a large residential district -- to be named the Emil Kolben district, after a prominent Czech entrepreneur -- with approximately one thousand apartments in a location near Prague's Kolbenova metro station.
The area has been zoned for residential use in the master plan, and Skanska plans to launch an architectural contest for the project. Part of the area already has a construction permit, allowing Skanska to break ground on the first phase immediately.
The Balcar, Polansky & Spol team consisted of Managing Lawyer Radim Polansky and Lawyer Lenka Naxerova.