Bubny-Zátory Gets New Owners. A New District Worth 90 Billion Crowns Is Planned for Prague
One of the last large undeveloped plots in Prague's wider city centre is changing hands. The extensive Bubny-Zátory site between the Vltavská and Nádraží Holešovice metro stations – long considered the most lucrative unused brownfield in the Czech Republic – now has a more diverse ownership structure, which could kick-start its transformation into a fully-fledged urban district.
Who Is Entering the Project
Developer Penta Real Estate has acquired a 50% stake in HoldCo Bubny, the company that owns the key plots of land in the area. A further 35% was purchased by a newly established investment group founded by entrepreneur Michal Strnad together with other partners. The remaining 15% stays with the previous owner, the J&T group, which remains in the project as a passive financial partner.
According to available information, this is set to be the largest development project Penta has undertaken to date – roughly three to four times the size of its current largest Prague district, Waltrovka.
What Will Be Built at Bubny
On a site of more than 250,000 square metres, the new Metropolitan Plan envisions a modern urban district taking shape by 2050, with around 25 blocks, up to 10,000 apartments, and space for roughly 25,000 residents – along with job opportunities, civic amenities and public space. Total investment costs are estimated at 90 billion Czech crowns.
The location already benefits from established transport infrastructure, including the new Praha-Bubny railway station, which strengthens its connection to the neighbouring districts of Holešovice and Letná.
Why It's Worth Watching
Bubny-Zátory is one of the last large development areas in central Prague. If the plans come to fruition, it will represent one of the most significant transformations in Prague's urban planning in the past decade – with an impact not just on housing, but gradually also on the supply of commercial and work space in this part of the city.
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