Penta Real Estate, the real estate division of Penta Investments, is entering a new phase of development. Evolving from a regional developer with a dominant position in the Czech Republic and Slovakia, the company is becoming an international player. To support this shift, it is strengthening its holding management structure, appointing David Musil as CEO of the group effective April 1, 2026. The position of Group CFO is held by Michal Pindroch.
The roles of the three local managing directors are held by Michal Rehák in Slovakia, Pavel Streblov (who has led the company’s expansion into the UK since last year), and Rudolf Vacek in the Czech Republic, where he succeeds David Musil.
The change comes at a time when the company is significantly expanding both the volume of its projects and its geographic footprint. In 2025, Penta Real Estate achieved a record net profit of CZK 2 billion, while total assets increased by 23.5% year-on-year to more than CZK 51.5 billion. Following its entry into the London real estate market, the Group now operates across three markets, employs nearly 200 people, and manages more than 40 projects at various stages of preparation or construction. Of these, a total of 15 projects are currently under construction this year (10 in the Czech Republic, 3 in the UK, and 2 in Slovakia).
“Penta Real Estate has grown not only in the Czech and Slovak markets, where it has long been active, but has also expanded into the UK market in London, with plans to enter a fourth market. This naturally led us to strengthen our leadership at the holding level. I am pleased that David Musil, who has been in Penta for 18 years, has taken on the role of CEO of the holding. All country directors have long-standing experience within the company and enjoy the full trust of us partners,” says Marek Dospiva, partner and co-founder of Penta.
The new management structure aims to accelerate growth across all three markets and strengthen Penta Real Estate’s position as an international developer. “We aim to grow organically in our home markets and through acquisitions abroad. Our goal is to unify processes and strategies while maintaining strong local leadership by experienced country directors who share Penta’s DNA. At the same time, we want to gradually transfer our 20 years of know-how to London and to other markets we decide to enter,” says CEO David Musil. “My priority will be to manage the holding in the same way as the Czech office – without unnecessary bureaucracy and with a business-first mindset,” he adds.
The Czech Republic remains a key market for the Group. After dedicated 15 years working for Penta where he started from the bottom as a consultant Rudolf Vacek has worked his way up to the position of Managing Director, previously on the position of Construction Director . „This year will be a pivotal one for us, as the number of projects under construction increases from two last year to ten. These include residential, office and mixed-use developments with a total value exceeding CZK 20 billion, which will deliver approximately 1,800 new apartments in Prague within the next three years. My role is to strengthen the Prague team and guide it through this phase of dynamic growth,” says Vacek. “At the same time, we are actively seeking new opportunities that will allow us to deliver large-scale transformation projects and turn brownfield sites into vibrant urban districts,” he adds.
Among the most significant residential developments currently under construction in Prague are Žižkov 3.0, MOCCA Vysočany, Nová Waltrovka and micro-apartments in Smíchov. New premium office developments will be delivered in Hybernská, Vinohradská, and as part of the Churchill III project above Prague’s main railway station. Penta Real Estate is also preparing major transformation projects in Prague, including Florenc 21, the IVth Quadrant of Vítězné náměstí, and the roofing of the Masaryk Railway Station rails.
International expansion plays a key role in the company’s new strategy. At the end of 2025, Penta Real Estate announced its entry into the UK market, where, through a joint venture with Ballymore, it is already delivering three residential projects – Embassy Gardens, Canary Wharf and Brentford. By 2029, more than 1,000 apartments are expected to be completed, with a total market value approaching GBP 1 billion.
The London expansion is led by Pavel Streblov, a long-standing Business Director, who is responsible for building the company’s position in one of the most competitive real estate markets in Europe. “Before deciding on London, we spent approximately two years analysing other markets such as Germany and Poland. What we find attractive about London is its openness to international capital and the city’s supportive approach to developers. As in Prague, we focus on larger-scale projects and consistently prioritise investment quality over volume,” says Streblov.