According to HN daily, National monuments institute (NPU) together with civic associations is against construction of another two skyscrapers as described in original plans of Pankrac City project, Prague. NPU previously approved City project similarly to Prague municipality (PrM), which still backs Pankrac City project. Although Ministry of Culture which acts as a referee in this issue initially called off PrM's decission, this once again voted for the initial project in January 2007. This has been appealed by civic associations against proposed Pankrac urbanization, which criticize increased
Our view:The whole issue relates to two buildings of 21 and 31 floors. According to our conversation with ECM, they see the whole issue to be solved by April 2007. For the moment some negative sentiment can occur as it is ECM's flagship project and some uncertainty has been raised, nonethless we don't expect negative outcome from Ministry of Culture as PrM still backs this project and all previous appeals by civic associations have been dismissed. We expect Pankrac City project to be finished according to initial plans without significant changes in the project.