Penta Real Estate has received a CZK 1.8 bln (app. EUR 73.9 mln) for the construction of two additional office buildings in its Nová Waltrovka development in Prague.
The loan, which has been issued by ČSOB and Česká spořitelna, is for the construction of the Metalica (16,500 sqm) and Legatica (7,500 sqm) office buildings, which will be added to five that have already been built on the brownfield site of the former Walter aircraft engine factory in Prague’s Radlice district, southwest of the city centre. The buildings have been scheduled for completion in H2 2023
We have excellent experience with the financing banks on both sides. Despite the challenges associated with Covid, the further disruption of supply chains and the increase in costs, we have managed to stick to the outlined schedule at Nová Waltrovka. The amount of the loan provided reflects the costs of the overall completion of the project.
Pavel Streblov, Penta Real Estate’s director for commercial construction
Altogether, Nová Waltrovka will offer 31,500 sqm of office space as well as 500 apartments, a hotel, a primary school, a central square, sports facilities and a playground.