14. November 2023
Today Penta Real Estate successfully purchased the last large brownfield in the center of Prague, which is located near Florenc. We have bought the land from Czech Railways for 243.8 million Czech crowns. This amount may further increase depending on the final outcome of the change of the master plan, which is currently underway within the area. Thanks to this important milestone, we can continue with the construction of a new urban district in the vicinity of Masaryk railway station – based on an urban planning competition that took place already in 2021.
“We have recently completed the first phase of construction in the vicinity of Masaryčka. We would like to continue building in the direction of Florenc, within the intentions outlined in the results of the planning competition from 2021 and thus connect the city center with Karlín. Thanks to this purchase of land, we can now complete the negotiations with the City of Prague regarding the change of the zoning plan for this location, as well as the negotiations on investor contributions. A large part of the land being bought now will become the property of the City of Prague after the construction of streets and public spaces is complete” says Pavel Streblov, director of Commercial Development at Penta Real Estate.