Penta has secured final building permits for the first phase of its ambitious project at Nákladové nádraží Žižkov in Prague. While primarily residential, this significant development, set to create a vibrant new district for up to 20,000 people, promises exciting commercial opportunities for businesses looking for new retail, service, and potential future office spaces in a rapidly growing urban hub.
Penta Real Estate is investing 20 billion CZK into 'Florenc21,' a transformative mixed-use district in central Prague. This ambitious project on a former railway brownfield will deliver hundreds of modern apartments, state-of-the-art offices, hotels, and retail opportunities, strategically connecting Karlín with New Town. Businesses looking for a prestigious and well-connected address in Prague should take note of this significant development.
Developers Penta Real Estate and PSN have secured key permitting for Vinohradská 8, a landmark mixed-use project replacing the former Transgas complex in Prague's prestigious Vinohrady district. Offering 7,500 sqm of modern, LEED Gold certified office space, alongside retail and residential units, this development is set to become a prime destination for businesses seeking a strategic, sustainable, and well-connected location in the heart of Prague.
A significant consolidation is underway in the Czech real estate market as Penta Real Estate, Engine Prague Development (EPD), and RSJ Investments Sicav move to acquire K1 Investment and Argo Alpha. This strategic merger, currently under review by the Czech Office for the Protection of Competition, signals a stronger, more integrated approach to property development, leasing, and management, promising enhanced opportunities for businesses seeking office and warehouse space.
Penta Real Estate, in cooperation with Prague and the city districts, has announced an architectural competition to design the form of four blocks between the main road and the Florenc bus station. Architectural teams can apply until December 13, and the winning designs will be published next fall. Representatives of Prague and Penta announced this on Friday. The Penta investment group also owns land near the nearby Masaryk railway station, where it completed the Masaryčka administrative building, which was awarded by experts.
The new look of Vítězné náměstí in Prague's Dejvice will begin to take shape thanks to the winning proposal from the consortium of studios Benthem Crouwel Architects, Opočenský Valouch Architekti, Rehwaldt Landscape Architects, PUDIS and AED. This architectural quintet joined forces to create a well-thought-out design for the fourth quadrant, which Prague residents call nothing else than "Kulaťák".
Investment group Penta, whose development activities are led by billionaire Marek Dospiva, bought from České drah long-term unused plots of land in Prague's Florenci, next to the Prague highway. Thanks to this, it can continue the project of two buildings designed by the Zaha Hadid Architects studio, which it completed this October near the Masaryk station. In addition, Penta plans to acquire additional parcels in the locality, thanks to which it would control the territory from Masaryk station to Pernerova Street in Karlín.
One of the most watched buildings in Prague in recent years is gradually being completed. In September, Masaryčka was approved, cafes, restaurants and shops opened, and this week the last protective film was torn off from the gold coating on the facade of the building. But the work on the Penty Real Estate project under the investment colossus Marko Dospiva does not end. In the summer, a publicly accessible viewing terrace with a café is to be opened on the roof.
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