News Article Czech Republic Penta Prague residential
by Property Forum | Residential

The XPlace platform, owned by the Archdiocese of Prague, and Penta Real Estate have entered into a partnership in the area of ​​rental housing. Thanks to it, the rental portfolio of XPlace is expanding by two turnkey apartment buildings in the neighbourhood of the Vidoule Nature Park and the new city district of Waltrovka in Prague.

For Penta Real Estate, this is the first cooperation focused on long-term rental housing. Foreign experience shows that projects aimed at long-term rental housing are more successful if a developer is involved in them from the beginning in tandem with a professional property manager. Partnerships conceived in this way are still unique in the Czech Republic.

There will be 54 residential units in the two planned apartment buildings. All apartments are energy-saving, and equipped with recuperation units. The apartments will be extended with front gardens, balconies or terraces. The architectural solution was prepared by Bíza Architekti studio in cooperation with AFRY. Construction has already started. Completion and occupancy of the first tenants are planned for the first half of 2025.

"It is an honour for us to cooperate with the Archbishopric of Prague, and I greatly appreciate the professionalism of our partners in the preparation of this project. I believe that we have just started a long-term partnership, and we will also embark on other residential or socially oriented projects together," says David Musil, Deputy CEO at Penta Real Estate.