SZDC suing Amadeus to invalidate Prague 6 land deal

The state company SZDC that maintains the Czech railway system is suing the developer Amadeus to regain control of a 24,000 sqm plot of land in Prague 6 it sold the developer an option to in February 2018. However, the SZDC director who signed the contract with Amadeus was then fired and the company's new management considers it to be invalid. The value of the land, which Lidove noviny reports could be used for residential, retail and office developments, is huge, thanks to plans by the city of Prague to build a station along the new rail connection to the airport and to the town of Kladno. Amadeus has pledged to pay market value for the land, at the latest by the year 2030 but SZDC apparently believes it could earn more by making developers compete for it.