Central Business District was designed for Prague by Zaha Hadid

The Masaryk Station revitalisation project was designed by Zaha Hadid Architects. Under the leadership of one of the best architects of this era, the design studio has created an extraordinary work, in all aspects fully respecting the history of the territory, the existing development and urban situation in the vicinity of Masaryk Station.  

The revitalisation of the Masaryk Station area will be carried out in several stages, when new office areas, shops, restaurants, cafeterias and public greenery are created. The area of the present brownfield will open to the public and the neglected area will be gradually revived. 

"We announced a tender for which real aces applied. Zaha's project was clearly the best one; therefore we have worked on it together for another almost three years. We approached it with humbleness. A chance to change a large part of the centre of Prague is usually absolutely exceptional even after long decades. Today, I believe the professional as well as general public will agree that Zaha Hadid has brought world architecture to Prague." 

Marek Dospiva, Penta partner

The Central Business District will newly connect Prague 1 with Karlín and Žižkov. One of the alternatives is the unique roofing of the rail yard, on which Penta has negotiated with the Railway Infrastructure Administration. This will establish a new city park that will directly connect Na Florenci and Hybernská Streets. New public areas with the function of a square will be created in the hall of the Masaryk Station and behind the arterial road at the Florenc Bus Station. Na Florenci Street will be significantly wider and will become a new Prague boulevard, lined with full-grown trees. It will extend the centre of the city from Náměstí Republiky Square up to Florenc. 

We have recently received news about the death of Mrs. Zaha Hadid, a recognized architect and extraordinary figure. The Central Business District is one of the last projects she was personally involved in. The Czech capital will thus have an opportunity to take pride in the work of an architect who went down in the history of world architecture. 

 Overview of the CBD project:

  • In 2004 the Masaryk Station Development (MSD) was established, consisting of the Czech Railways and private companies (in particular ING Real Estate). Penta became a part and the majority owner of the consortium in 2011. The agreement concluded in 2004 guarantees the consortium a pre-emption right for the plots of land in the vicinity of Masaryk Station.
  • In January 2016 MSD agreed with Czech Railways on purchasing the first plot of land along Na Florenci Street (10,300 m2) for CZK 235 million. The purchase price is not defined – and will not be defined in the future – by the plot area but by the area of commercial areas of buildings built on the respective plot according to the approved design documentation. The Czech Railways, the plot owner, thus have a contractually guaranteed market price.
  • In the meantime, Penta presumes purchasing the plots of land with a total area exceeding 22,000 m2, on which it intends to develop approximately 90,000 m2 of commercial areas. The estimated income of the Czech Railways exceeds CZK 600 million.
  • Penta will construct the first buildings along Na Florenci Street and others at the Hybernská/Opletalova Streets crossroad in the next stage. A square with new buildings at the Florenc Bus Station will be developed like the last one.
  • The first construction could be finished during 2019 and the whole area at the earliest in 2023.
  • Penta will invest CZK 135 million in the reconstruction of Masaryk Station.
  • The total costs of the Central Business District implementation will exceed CZK 6.5 billion.

About Penta

Penta is a Central European investment group established in 1994. It operates mainly in healthcare, financial services, manufacturing, retail, media and real estate development. Its portfolio companies provide jobs to more than 41,000 people and reported assets of EUR 9 billion in 2017. Penta operates in more than 10 European countries and has offices in Prague, Bratislava and Warsaw.

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Gabriel Tóth
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