Swedish property and construction group Skanska has invested CZK 970 mln (€39 mln) in the first phase of a residential development project in Prague, Czech Republic.
Construction of the first phase of the Modransky cukrovar project starts this month and, upon completion at the end of 2024, will consist of 112 housing units and seven commercial premises.
The entire development will comprise of 797 housing units, planned in six phases, in addition to a new central square, a pedestrian zone, a linear park and a revitalized part of the Vltava embankment.
According to Skanska, Modranský cukrovar is the first residential neighborhood in the Czech Republic that carefully manages its water, greenery and home culture.
Located on a brownfield site, the project aspires to achieve BREEAM rating and is committed to the use of solar energy, recycled building materials and elements supporting community life.
It will make extensive use of green roofs and greenery in the form of hundreds of solitary trees, orchard or meadow.
The development is designed to save up to 47% of the drinking water as two water lines will allow a choice between drinking water and recycled water.
Also planned is up to 5,000 m2 of commercial space for shops, services, bistros and restaurants, including a supermarket.
