Penta has obtained permission to construct an apartment building on Petrská Street in Prague

Prague – The company Penta Real Estate has obtained a permit for the construction of a residential building, which will be located on Petrská Street in Prague, replacing the empty site of the former telephone exchange. This was reported by ČTK based on the official bulletin of Prague 1. The developer plans to create 82 luxury apartments complemented by non-residential spaces. According to its website, the company is planning to complete the project designed by the Bratislava studio Pantograph in 2028.

The architectural design of the building, according to the company's website, draws inspiration from Prague Cubism, with a garden atrium intended for the inner courtyard. In the project, Penta will offer apartments at the highest standard, and the building will feature an entrance lobby with a reception. In addition to the apartments, the building will also include two non-residential spaces and two levels of underground parking for 96 cars, as stated in the building permit.

According to information from the Seznam Zprávy server, Penta originally purchased the telecommunications building from the 1970s located at Petrská 18 around the turn of 2021 and 2022, with plans to replace the offices envisioned by the previous owner with apartments in the prestigious Petrská district.

The development part of the Penta group is also building other projects in the metropolis, such as on the site of the former Walter factory in Prague 5, at the site of the Nuselský brewery in Prague 4, or between Masaryk Station and Florenc, where it has already completed the office building Masaryčka. This year, it also plans to start the first phase of construction on the lands in the area of the former Žižkov freight station in Prague 3.

The company is preparing, in cooperation with developers Kaprain Real Estate and Sekyra Group, the completion of Vítězné náměstí in Prague 6. Penta is also represented in the company CR-City, which plans to cover the platform of the main train station for the purpose of building houses. Last year, Penta Real Estate, along with MAT Corporation, purchased the buildings of the Česká spořitelna headquarters near the Budějovická metro station.

According to the annual report published in the Collection of Documents, the Czech part of Penta Real Estate had a net profit of 13.2 million crowns the year before last, marking an increase of 5.5 percent year-on-year. The revenue of the real estate division of Penta grew by 22 percent to 456.6 million crowns. The entire Penta Real Estate group, which operates in Prague, Bratislava, and newly in London, had an operating profit of 45.6 million euros the year before last, equivalent to over one billion crowns.