Skanska invests €76m in Prague riverside mixed-use scheme

Swedish multinational builder-developer Skanska is investing €76m in the first phase of Port7, a mixed-use development in Prague, capital of the Czech Republic.

The 10-storey office building will have a total leasable area of around 27,700 sq m, with two underground parking levels.

The construction contract is worth about $77m (SEK640M), which will be included in Skanska’s order bookings for Europe in the first quarter of 2021.

When complete, the full Port7 complex will have some 35,000 sq m of A-class office and retail premises in three buildings, with retail, restaurants and fitness centres on the ground floor.

A large public space will help Praguers enjoy the redeveloped Holešovice riverfront, good for running, cycling and kayaking.

Port7 is expected to receive LEED Platinum and WELL certifications.

WELL evaluates how the working environment affects people inside.

Skanska said microbiological safety in Port7 will be guaranteed by its "Care for Life Office Concept" and WELL’s Health & Safety Rating.

Construction starts this month and is scheduled for completion in the second quarter of 2023.

Skanska’s real estate ventures helped it buck the trend among contractors in 2020; many posted losses owing to the pandemic, but Skanska recorded a healthy profit for the year helped by $860m earned from commercial property sales.

In Europe, the company develops commercial property in Poland, Czech Republic, Romania and Hungary, and residential property in Poland, Czech Republic and the UK.

Image: Port7 will have A-class office and retail premises in three buildings on the redeveloped Holešovice riverfront (Courtesy of Skanska)

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