Two decades of Penta Real Estate success: Petr Palička hands over management to David Musil

Penta Real Estate has a new Managing Director for the Czech Republic, effective July 1, 2024. David Musil, a long-time colleague and close associate of the outgoing head of the company, Petr Palička — who managed the company since it was established 17 years ago — will become the new CEO. Under his leadership, Penta Real Estate has become a leader in the commercial real estate market and one of the main residential developers in Prague.

“Petr Palička joined Penta 17 years ago as a very experienced manager. He built the company from nothing into one which is now a market leader changing the face of the city for the better, building admired and valued architecture and being a trusted partner for the city and the authorities. There are only a few people with such a career in the Czech real estate market. I am very grateful for everything he has done for us,” says Marek Dospiva, founder and partner of Penta Group.

“Petr is the best boss I have ever had and one of my closest colleagues and friends. It was the most valuable lesson and great experience working together. It will be a challenge to take Penta Real Estate even higher than where Petr has taken it in recent years, but I had the best teacher,” says David Musil, Penta Real Estate's new Managing Director for the Czech Republic.

“I am very happy that I got the chance not only to participate in the creation of buildings such as Florentinum, Masaryčka, Churchill and Victoria Palace, but with the support of Penta Group behind me, I also had the opportunity to transform entire areas such as Walter Square, Churchill Square, the Masaryk Station area and Victory Square. None of this, however, would have been possible without the support of Penta's partners and especially the entire Penta Real Estate team. Thanks to all of them,” says Petr Palička.