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Penta Real Estate has announced plans to lead the development of the Bubny scheme, set to become Prague's largest urban regeneration project.
The 250,000+ sqm site sits between two metro stations, including the newly opened Praha–Bubny railway station, and has long been regarded as the largest urban development reserve within Prague's wider city centre.
Development will proceed in several phases through to 2050.
What Bubny Will Become
The project is conceived as a fully integrated mixed-use district, not a single-use development dropped into a gap in the city. Its planned uses span the full range of urban life:
- Residential: primary housing, rental apartments and student housing
- Commercial: premium office space and hotels
- Retail and services at ground level
- Schools and kindergartens
- A central park and high-quality public spaces
- Cultural facilities and public amenities
Once complete, Bubny–Zátory will house tens of thousands of residents and workers, effectively turning a long-neglected barrier in the city into a natural extension of Prague's urban fabric.
Who Is Behind the Project
Penta Real Estate is leading development, with two other parties involved in the ownership structure.
AKIPIA, a newly established investment group, is joining as an active co-investor. J&T Real Estate, which has tracked the site for many years, will participate as a passive investor.
Dušan Palcr, Chairman of J&T Real Estate's board, said the group had always recognised Bubny's outstanding development potential but that an investment rather than development perspective ultimately prevailed.
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A Once-in-a-Generation Brownfield Play
David Musil, CEO of Penta Real Estate, described urban regeneration opportunities of Bubny's scale as once in a generation.
He said Penta's ambition is not simply to construct new buildings, but to create a vibrant mixed-use urban district that transforms a long-neglected barrier into a natural extension of the city.
Approximately two-thirds of Penta Real Estate's developments are delivered on former brownfield sites, giving the company relevant experience for a project of this complexity and duration.
Pavel Streblov, UK Managing Director and Board Member at Penta Real Estate, described Bubny as a prime example of the firm's ability to deliver once-in-a-lifetime regeneration projects across European cities.
He noted that Penta's recent entry into the UK and plans for London expansion reflect the same ambition for large-scale, design-led urban placemaking that Bubny represents in Prague.
Marek Šmrha of AKIPIA added that Bubny represents an exceptional long-term investment opportunity, reflecting the group's strategy of building a portfolio of enduring assets alongside experienced partners.
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