News Article Czech Republic investment Kaprain Group land mixed-use Penta Real Estate Prague Sekyra Group
by Property Forum | Investment

A consortium of Penta Real Estate, Kaprain Group and Sekyra Group has acquired a land plot of 20,122 sqm from the University of Chemistry and Technology (VŠCHT) in the western part of Vítězné náměstí in Prague 6 for over €39 million (CZK 1 billion), Penta announced in a press release.

The consortium acquired the majority of the buildable area in the so-called fourth quadrant of Vítězné náměstí between Evropská and Jugoslávských partizánů streets. The developers plan to launch an international planning competition within one year with implementation anticipated by 2028.

The consortium envisages the development of a mixed-use project with offices taking up the majority of space, in addition to retail areas and apartments. VŠCHT wants to use the funds obtained from the sale for the construction of a new university building.