As of December, EP Real Estate (EPRE) from the EP Corporate Group is headed by Petr Palička, the former long-time head of the Penta real estate division, reports E15.cz.
EP Real Estate primarily prepares the real estate of the EPH Group for subsequent transformation. Palička built the development company Penta Real Estate and was at the head of the Penta real estate business for 17 years from its inception, he signed many buildings, the most prominent of which is Masaryčka.
The first project in the new role for Petr Palička will be the reconstruction of the Bellevue Palace. EPRE acquired the Neo-Renaissance palace on the Smetana embankment last March.
"It's a beautiful house in a beautiful place, but it will need to be renovated and put in order," Palička pointed out, adding that the renovation will cost hundreds of millions of crowns. It is not yet certain how the building will be used after the reconstruction. "There could be housing there, there could be a hotel, in any case, a restaurant is planned, just like it used to be," he added.
