HAVEL & PARTNERS advised its client, the Sekyra Group, a property development company, on the acquisition of the remaining land in the vicinity of the Smíchov railway station in Prague from České dráhy, a.s. The large-scale project Smíchov City is already being built on the land, where approximately 12,000 people are expected to live and work upon completion. In terms of its total purchase price, the transaction ranks among the largest on the domestic market.

Smíchov City is a new Prague-based comprehensive district with a number of commercial and residential buildings, services in the form of shops, supermarkets and restaurants, two hectares of green space in the form of three parks, a school and a link to the transport terminal or the existing Smíchov railway station. However, it is also awaiting extensive modernisation as part of the whole project.

The district is divided into two parts, northern and southern. Both parts will be connected by a pedestrian boulevard named after Madeleine Albright, a U.S. politician of Czech origin. The first residents should move into the northern part of Smíchov City by the end of this year. In the southern part of the city a large complex of Česká spořitelna, a hotel and a number of other multifunctional buildings are to be built.

The project will enable a large area of transport-industrial character in the wider centre of Prague, which has been deserted for many years, to come to life and find a new purpose.