City of Brno Becomes Sole Owner of Technology Park
The contract was signed today by First Deputy Mayor Petr Hladik (KDU-CSL), acting on behalf of the Mayor. Photo: TD / Brno Daily.
Brno, Jan 16 (BD) – Today’s contract signing follows an announcement in October that the City of Brno had approved the purchase of the 50% of shares in the joint stock company Technologický Park Brno that it did not already hold. The seller of the shares, Dubai-owned multinational P&O, agreed to a price of EUR 21.5 million. (For more detailed information about the history of the deal, see our previous article: “Brno to Become Sole Owner of Technology Park”).
Technology Park leases 60,000 square meters of office space to innovative companies and research institutions in Brno, and has existed for over 20 years. Since the beginning, the company has been half-owned by the City of Brno and P&O as a joint investment, but the city will now retain full control of the site. According to Mayor of Brno Marketa Vankova (ODS): “Our goal is for the Technology Park to further develop and support start-ups, and innovative and hi-tech companies. We are currently working on a business plan that will include specific ideas about its future operation.” Another 60,000 square meters owned by the company is earmarked for housing according to the zoning plan.
Deputy Mayor Tomas Kolacny (Piráti) emphasised the site’s importance for Brno’s future economic development: “Thanks to the proximity of the university and the companies’ research centers, Technology Park has succeeded in building a unique innovative ecosystem over the past 15 years, thanks to which global companies such as Zebra Technologies, Y Soft and Kiwi have been able to grow in Brno. The city’s control over this strategic development area, known as the Central European Silicon Valley, is therefore crucial to maintaining the region’s competitiveness in the future.”