Penta Real Estate is planning to continue its development activities in Prague 6, in the Veleslavín area. For this purpose the developer is establishing a joint venture with Radek Pokorný and his new development group Engine Prague Development.
Radek Pokorný has worked on development projects for BPD Group for a long time, and the creation of EPD is a consequence of changes in the investment strategy of BPD Group. Penta and EPD are discussing the possibility of further expanding cooperation in other locations in Prague 6.
"After more than 20 years of successful cooperation with BPD, an opportunity arose to become independent and establish our development group. I plan to further develop the projects within the EPD company independently or in cooperation with experienced investors such as Penta," says Radek Pokorný.
"The Prague 6 is an attractive district. We were looking for new development opportunities, and Radek Pokorný owns or co-owns a number of interesting projects that fit into our plans. We have a strong financial background and an experienced team, so cooperation makes sense. The previous partnership on the Maison Ořechovka project was very successful," says David Musil, Country Managing Director of Penta Real Estate for the Czech Republic.
The Nový Veleslavín project, located near Veleslavín Castle, will offer residential housing of a higher standard. The plan includes approximately 100 residential units and 30 townhouses. The total investment will reach almost CZK 2 billion (€79.6 million).
