Penta Real Estate to lead major regeneration in Prague 

Penta Real Estate has unveiled plans to lead the development of Bubny, one of Prague’s most significant regeneration projects and the largest undeveloped site within the city’s wider centre. 

Bubny, Prague

The 250,000+ sq m scheme will transform a long‑neglected brownfield area into a fully integrated mixed‑use neighbourhood spanning residential, office, education and cultural uses. Strategically located between two metro stations, including the newly opened Praha–Bubny railway station, the district will benefit from strengthened transport connectivity.

The masterplan will be delivered in phases through to 2050 and will primarily comprise residential development supported by premium office space, rental and student housing, hotels, retail, services, schools, kindergartens, public amenities, a central park and high‑quality public spaces. Once complete, Bubny will provide a new urban district for tens of thousands of residents and workers, establishing a major new destination for Prague and reflecting Penta’s long‑standing commitment to design‑led urban placemaking.

Penta Real Estate’s involvement builds on its strategy of large‑scale urban regeneration and brownfield redevelopment across Europe. Around two‑thirds of the company’s projects are delivered on former industrial sites. Bubny–Zátory has long been regarded as Prague’s largest urban development reserve, with the planning framework now enabling its transformation into a modern mixed‑use district combining housing, employment, public amenities and high‑quality public spaces.

David Musil, CEO of Penta Real Estate, said Bubny represents a once‑in‑a‑generation regeneration opportunity. He described the project as the largest in Penta’s history and emphasised the ambition to create a vibrant mixed‑use district that reconnects a long‑neglected area with the wider city.

Pavel Streblov, UK Managing Director and Board Member at Penta Real Estate, said Bubny exemplifies the type of ambitious, integrated regeneration schemes the company aims to deliver across Europe. He noted that Penta’s recent entry into the UK and plans for expansion in London and beyond reflect its commitment to pioneering market‑leading developments.

Marek Šmrha, Co‑founder and Managing Partner of AKIPIA, said the project offers exceptional long‑term development potential and aligns with AKIPIA’s strategy of building a portfolio of long‑term investments alongside experienced partners.

Dušan Palcr, Chairman of the Board of J&T Real Estate, said the company has long recognised Bubny’s outstanding development potential and will remain involved as a passive investor under the new ownership structure.