Swedish multinational construction-developer Skanska is investing 76 million euros in the first phase of Port7, a mixed-use development in Prague, the capital of the Czech Republic.
The 10-storey office building will have a total leasable area of approximately 27,700 m², with two levels of underground parking.
The construction contract worth around $ 77 million (SEK 640 million) will be included in Skanska’s orders for Europe in the first quarter of 2021.
When completed, the entire Port7 complex will include some 35,000 m² of Class A offices and retail space in three buildings, with shops, restaurants and fitness centers on the ground floor.
A large public space will help Praguers to enjoy the redeveloped Holešovice riverside, ideal for running, cycling and kayaking.
Port7 is expected to receive LEED Platinum and WELL certifications.
WELL assesses how the work environment affects the people inside.
Skanska mentionned Port7’s microbiological safety will be guaranteed by its “Care for Life office concept” and WELL’s health and safety rating.
Construction starts this month and is expected to be completed in the second quarter of 2023.
Skanska’s real estate projects have helped her turn the tide of entrepreneurs in 2020; many posted losses due to the pandemic, but Skanska posted a healthy profit for the year, helped by $ 860 million from commercial property sales.
In Europe, the company is developing commercial properties in Poland, the Czech Republic, Romania and Hungary, and residential properties in Poland, the Czech Republic and the United Kingdom.
Image: Port7 will have Class A office and commercial space in three buildings on the redeveloped waterfront of Holešovice (Courtesy of Skanska)