Skanska Commits CZK 2.2 Billion to Fourth Prague Residential Phase

Skanska is investing CZK 2.2 billion, about SEK 1 billion, in the fourth phase of the Emil Kolben District residential project in Prague, Czech Republic, the company announced on November 2, 2026. The construction contract for the phase is worth CZK 1.3 billion, about SEK 590 million, and will be included in Skanska’s order bookings for Europe for the fourth quarter of 2026.

The fourth phase will comprise 272 low-energy apartments and five non-residential units. The architecture draws inspiration from the site’s industrial heritage and will be complemented by new public spaces. Those spaces have been developed in collaboration with local district representatives and a landscape architect and will include recreational areas as well as features designed to support biodiversity.

“The Emil Kolben project is well positioned in this market with an attractive customer offering, reflected in a pre-sales rate of above 30 percent for this relatively large phase. Once completed, the development will provide more than 1,000 homes,” said Björn Mattsson, Business Unit President, Skanska Residential Development Europe.

The phase follows a low-impact living concept that focuses on energy efficiency, the use of sustainable technologies and excellent accessibility to the city center, reducing the need for car travel. The company said the project uses certified materials and manages drinking water efficiently, and that the building meets the requirements for BREEAM sustainability certification at the Very Good level.

The Emil Kolben District, named after the 20th-century Czech industrialist Emil Kolben, comprises five phases with 1,069 residential units and a total area of 51,000 square meters. Skanska announced the project’s third phase on January 9, 2025, a CZK 956 million, about SEK 440 million, investment covering 134 low-energy apartments, of which 45 percent had been sold at the time of that announcement. The third phase’s construction contract was worth CZK 662 million, about SEK 300 million, and was included in the Europe order bookings for the first quarter of 2025, with construction scheduled to start in January 2025 and completion expected at the turn of 2026/2027. Skanska said at the time that the third-phase building met the strict requirements of the international BREEAM sustainability certification, also at the Very Good level, and that plans called for a herb bed, picnic sets and nature trail stops next to the building, with a nearby park, its pond, playground, amphitheater and cycle path set to provide recreational benefits for the community.

Construction of the fourth phase will start in November 2026, with completion expected in spring 2029.