Tuesday, 22 September 2026
The property portfolio managed by Prague’s municipal developer, Pražská developerská společnost (PDS), has reached a market value of CZK 15.925 billion, marking a substantial increase from CZK 9.409 billion last year. The latest assessment, prepared by Knight Frank and dated 1 September 2026, covers approximately 958,000 sqm of city-owned land, primarily earmarked for residential development.
The portfolio has expanded considerably since PDS began regularly assessing the market value of the assets entrusted to it. Its holdings were valued at CZK 2.939 billion in 2021, rising to CZK 4.298 billion in 2022, CZK 7.123 billion in 2023 and CZK 8.843 billion in 2024. The increase to CZK 9.409 billion followed in 2025 before the significantly larger rise recorded this year.
A major factor behind the latest valuation is the additional development potential created by Prague’s Metropolitan Plan. According to PDS, the new planning framework increases the capacity of land already in its portfolio by more than 200,000 sqm of gross floor area, covering housing as well as public facilities and services. Further sites transferred to PDS during autumn 2025 could accommodate more than another 270,000 sqm.
The expansion of the portfolio has also contributed to the higher overall value. Newly managed locations include land at Dolní Počernice-Dubeč, Sofijské náměstí in Prague 12 and Na Strži in Prague 4. PDS has simultaneously been advancing existing sites through land consolidation, planning work, preparation of residential schemes and applications required for future development.
The municipal developer estimates that the land currently under its management could ultimately accommodate more than 11,000 apartments, together with schools, nurseries and other infrastructure required by new neighbourhoods. The projects are expected to be developed over a period of approximately 10 to 15 years, with municipal rental housing forming an important part of the programme.
The increase is not solely the result of adding more land. PDS says properties that have remained in its portfolio since the first valuation in 2021 have increased in value from approximately CZK 2.93 billion to CZK 8.76 billion. The organisation estimates that around 25–30% of this increase reflects general appreciation in Prague’s property market, while at least CZK 4 billion is associated with project preparation and additional development capacity. These figures represent PDS’s assessment of the factors behind the increase rather than a separate independent attribution by the valuer.
The higher valuation also strengthens the financial base behind Prague’s municipal development programme. PDS uses regular market assessments to support decisions about investment and potential financing structures for rental housing and related projects. Rather than generating value primarily by disposing of municipal land, Prague’s approach is intended to retain strategic sites while preparing them for development, allowing the city to preserve long-term influence over the housing, services and public infrastructure eventually delivered on them.
