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Swedish construction company Skanska has announced an investment of approximately $40.61m (Skr410m) in phase one of a new residential development project in Prague, Czech Republic.

The first phase of the Modransky cukrovar project will include 112 housing units and seven commercial premises.

Planned to be developed in six phases, the project will feature a total of 797 housing units.

It targets a BREEAM rating through the use of green features such as recycled building materials and solar energy.

It will also include a linear park, pedestrian zone, and a new central square.

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By GlobalData

The project is also said to be equipped to help residents use renewable water and energy resources efficiently.

Skanska said: “The complex has an extensive application of green roofs and greenery in the form of hundreds of solitary trees, orchards, [and] meadows.

“It is designed to save up to 47% of the drinking water through blue-green-grey infrastructure, which refers to the integration of functions within stormwater management.”

Construction work on the first phase of the project begins this month, with completion expected at the end of 2024.

The company was also recently awarded a contract to build out the interior of a new data centre, H3, in Hillsboro, Oregon, US.

The company’s scope of work under the contract involves the build-out of approximately 11,200m² of the 18MW data centre hall.