Prague takes full ownership of Congress Centre, aims to boost congress tourism

The City of Prague will acquire the state’s 54.35% stake in the Prague Congress Centre, becoming its sole owner, the Czech News Agency reported. In exchange, the state will take ownership of Faust House on Karlovo náměstí, a plot of land at Homolka Hospital, and a parking lot in front of the Ministry of Foreign Affairs. Additionally, the city will pay the state 2.21 billion crowns. The main motivation behind the deal is Prague’s plan to construct a new hall adjacent to the centre to boost congress tourism in the capital.