Penta Expands in Žižkov with CZK 731 Million Land Deal

Developer Penta Real Estate has completed the purchase of a 4-hectare parcel from Czech Railways in the northern section of Prague’s former Žižkov freight station, marking another step in one of the capital’s largest brownfield redevelopments. The company paid CZK 731 million for the land and plans to transform the site into a new residential quarter with around 530 apartments and extensive public and green spaces.

The acquisition follows a recent change to the city’s zoning plan, which opened the way for large-scale regeneration of the long-derelict rail yards. Penta’s portion of the project is designed as a mix of housing, landscaped parks, water features and community facilities. Construction could start around the turn of the year, with completion targeted for 2029, although the schedule will depend on permitting and market conditions.

The redevelopment of Žižkov’s vast freight complex has been under discussion for more than a decade. Once a key industrial hub, the 1930s-era station has stood largely unused since freight operations ceased in the early 2000s. The city of Prague recently purchased the protected main station building and adjoining land from Czech Railways in a deal worth roughly CZK 1.43 billion, with plans to convert it into a cultural and public-service centre.

Under agreements reached earlier this year between the municipality, Prague 3 district, and private investors, developers involved in the Žižkov zone — including Penta, Sekyra Group and Finep — have pledged to finance public infrastructure and amenities valued in the hundreds of millions of crowns. These include new parks, a medical facility, sports grounds, and investments in local schools and kindergartens.

Czech Railways, which has gradually been divesting parts of the site, says proceeds from land sales will be reinvested into train upgrades and passenger-service improvements. The southern portion of the former yard was sold earlier this year to Sekyra Group, while the northern tract now passes to Penta, which joined the broader project in 2019.

City planners view the freight station area — spanning roughly 70 hectares in total — as a key opportunity to extend central Prague eastward and provide thousands of new homes in a mixed-use district linked by new transport and civic infrastructure. If completed as planned, the new neighbourhood could eventually house up to 20,000 residents, reshaping a major part of the city’s urban landscape.