ARTICLES LABELLED WITH TAG Skanska

BNY Mellon, an international company from the banking and finance sector, has leased all office space in the second phase of Skanska’s Centrum Południe complex located in Wrocław. The tenant’s employees will occupy approx. 20,300 sqm of office space. The opening of the new office is scheduled for April 2024. This is the largest lease transaction in Wrocław since 2020.

The average price of older flats in the Czech Republic fell by nine percent year-on-year to CZK 82,351 per sqm (€3,510 per sqm), which brought an overall increase in sales by two-thirds compared to the previous year. However, Prague has seen the fewest sales of older apartments in four years. According to ČTK and HN.cz, this is the result of a study by the real estate group European Housing Services (EHS), which uses data from its founding members, Bezrealitky and Maxima Reality.

The latest data from Q1 2023 show a recovery of the new flats market in Prague. Quarter-on-quarter, sales increased by almost a fifth. The mortgage market, which has also seen a rally in recent months, but also the return of investors, will have an impact on further developments. Neither offer nor sale prices have changed significantly compared to the previous period. This is mainly due to persistently high construction costs, slow permitting of new construction and temporary postponement of some planned projects, according to the market analysis of development companies Trigema, Skanska and Central Group.

The Port7 office project by Skanska has received the occupancy permit. Port7 offers 35,800 sqm of premium office and retail space in three buildings, 50 percent of which are leased now. Skanska is now shifting its focus to finishing the nearly 2-hectare public park and the new riverside, which is expected to become the new centre of Prague Holešovice. For better access to the entire area, the developer has built an extension of the railway underpass which directly connects the project with the subway, train, and tram station of Nádraží Holešovice.

Skanska has opened the 27,000 sqm first phase of the H2Offices complex on Budapest's Váci Road office corridor. Construction of the second phase may start in H2 2023, with the third and final to be handed over in 2026 or 2027.

In Prague 7, Skanska is preparing the first office project in the Czech Republic which is being built on the principle of the circular economy. The Mercury project is being built with materials from demolished buildings and will have 20,000 sqm of premium office and retail space.

Katarzyna Zawodna-Bijoch, President and CEO of Skanska’s commercial development business unit in CEE has talked to Property Forum about the changing role of offices, skyrocketing energy prices and the incoming supply gap in the Polish office market.

The area of former factories and industrial halls in Prague 9 will be transformed into a modern urban district. Skanska is now planning to invest more than CZK 1 billion (€41 million) in the Alfred apartment building there. The building, which is part of the second phase of the construction of the district of industrialist Emil Kolben, is expected to be completed in 2025, reports E15.cz.

The office market is going through a period of stagnation, recording demand values similar to those of 2021, while new deliveries amounted to 105,000 sqm by September 2022, compared to 154,000 sqm in the same period of last year, according to real estate consultancy JLL Romania.

Skanska Residential is planning to include rental housing in its multi-phase projects in the Czech Republic as an additional product to its standard offer. However, the company mainly wants to focus on building homes in Prague for long-term living. Property Forum talked to Petr Michálek, CEO of Skanska Residential.