Skanska has announced a CZK 2.2 billion (approximately SEK 1 billion) investment to develop the fourth phase of the Emil Kolben District residential scheme in Prague, Czech Republic.

The construction agreement carries a value of CZK 1.3 billion (around SEK 590M), which the group will record under its fourth-quarter order bookings for Europe in 2026. Building work on the phase is scheduled to begin in November 2026, with target completion set for spring 2029.

This latest phase will deliver 272 low-energy homes alongside five non-residential premises. The design reflects the industrial history of the location and will incorporate freshly created public areas.

Björn Mattsson, Business Unit President, Skanska Residential Development Europe, said:

“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.”

Designed around low-impact living, the scheme prioritises efficient energy performance, sustainable construction methods and direct links to public transport to reduce dependence on private vehicles. The development incorporates certified building materials and efficient drinking water management systems, achieving a BREEAM sustainability rating of Very Good.

To enhance local biodiversity and provide community recreational areas, the public space design was executed alongside local district representatives and a landscape architect.

Named after the 20th-century Czech industrialist Emil Kolben, the broader masterplan spans 51,000 square metres across five phases, delivering 1,069 homes in total once fully completed.