Saturday, 18 April 2026
Penta Real Estate is moving forward with a new housing development in the centre of Prague, with construction scheduled to begin this summer in the Petrská district.
The project will be developed on Petrská Street, on land currently occupied by a former telephone exchange from the 1970s. Once completed, the scheme will provide 82 apartments and two ground-floor commercial units. The overall investment is expected to exceed CZK 1.1 billion, with delivery planned for 2028.
The building is designed to offer higher-end residential units, supported by underground parking and a landscaped internal courtyard. The developer obtained the necessary approvals following discussions with neighbouring property owners and local residents, particularly regarding demolition works and construction conditions.
Rudolf Vacek, Head of Construction at Penta Real Estate, said that “an acceptable compromise was achieved that takes into account the investor’s needs and ensures the safety and health protection of local residents.”
The architectural concept has been developed by Pantograph, in cooperation with conservation experts and the Prague 1 municipality. The façade facing the street will be structured to reflect the traditional character of the surrounding area, while the building’s height has been aligned with neighbouring properties. Selected artistic features from the original structure are also expected to be retained.
Beyond Petrská, Penta Real Estate is continuing work on several other sites across Prague, including redevelopment projects in Smíchov and Nusle, as well as further phases near Masaryk Railway Station, where it previously completed the Masaryčka office building. The developer is also preparing to launch construction in the former Žižkov freight station area.
New residential construction in Prague’s historic centre remains relatively limited, with projects often facing complex approval processes and close scrutiny from heritage authorities. As a result, most new housing supply continues to be concentrated outside the city’s core.
