Skanska Announces CZK 2.2 Billion Investment in Prague Residential Project
Skanska is investing approximately CZK 2.2 billion (SEK 1 billion) into the fourth phase of the Emil Kolben District residential project in Prague, Czech Republic. The construction contract for this specific phase is valued at CZK 1.3 billion and will be recorded under Skanska's European order bookings for the fourth quarter of 2026. The development will consist of 272 low-energy apartments and five non-residential units, designed with a focus on sustainability and BREEAM 'Very Good' certification standards. The project has already demonstrated market demand with a pre-sales rate exceeding 30 percent for this phase. Construction is scheduled to begin in November 2026, with completion expected by spring 2029.
Topics: Construction Investment Real Estate Development Residential Projects