Skanska sells City Green Court in Prague for EUR 53.7 million, about SEK 475 million

5/21/2012 9:00 AM CET
Press release

Skanska sells City Green Court in Prague to Deka Immobilien Investment GmbH for EUR 53.7 million. The transaction will be recorded in the second quarter 2012 and transfer is scheduled to the fourth quarter 2012.

City Green Court

The City Green Court is scheduled for completion in the second quarter. The building is leased to 95 percent and before the end of the year tenants such as PwC, GlaxoSmith Kline and Skanska will move in to the building. The City Green Court is the first LEED Platinum pre-certified office project in the Czech Republic. 

Located in Prague`s Pankrác business district, the building consist of eight stories of office space totaling 16,300 square meters, including 285 square meters of ground-level restaurant. The building is in close proximity to metro station, shopping mall and wide range of restaurants.

“City Green Court is a proof that Skanska develops very attractive buildings for both tenants and investors, and we are happy that Deka has chosen to invest in our project. We will now focus on further development opportunities in the area,” says Britta Cesar-Munck, Managing Director for Skanska Property Czech Republic.

Skanska Commercial Development Europe initiates and develops property projects in office, logistics and commercial buildings. The company’s operations are concentrated in metropolitan areas in Hungary, the Czech Republic and Poland and are conducted by three local units: Skanska Property Hungary, Skanska Property Czech Republic and Skanska Property Poland.