Pan-European developer and construction firm Skanska has acquired a brownfield site in Prague for CZK 841 mln (€31 mln).
The Stockholm-headquartered firm plans to to develop the plot into an extensive residential area with good access to the city centre. The vendor was from Codeco UK.
Skanska currently focuses on commercial property development in select home markets in Poland, Czech Republic, Romania and Hungary, and is active in residential development in Prague and Warsaw.
In 2016, Skanska reported sales of SEK 36 bn (€3.8 bn).
