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FINEP has started the construction of the first phase of West City, a new Prague quarter

Press release 6/4/2008 12:00 AM CET

General contractor is Skanska CZ, the main lessee is Siemens.

Prague FINEP, one of the biggest development companies in the Czech Republic, has started the construction of the first phase of a unique city development projects – the new Prague quarter West City. The supplier of construction of the initial investment amounting to 2.25 billion crowns is Skanska CZ, the main lessee of the project’s administrative part is Siemens. Unique not only in size – the whole area stretches on a fascinating 1,150,000 square meters – the brand new, independent West City quarter in Prague 13 will be also unique in its complete availability of services including its own metro entrance.

Skanska CZ has now started to build the City Administrative part, which is going to offer 90 thousand square meters of office space and will be finished by 2010. The dominant feature of this project will be a ten-storey building in the shape of a diamond, which will be joined by a five-storey administrative building in the shape of an H with green areas on the inner sides. Skanska CZ is also the builder of complete infrastructure in the whole area including parking spaces, roads, green areas and parks.

„The construction of three administrative buildings will start the transformation of the whole area. One hundred and fifty hectares of unbuilt land will be replaced by a lively residential and administrative quarter for up to 35 thousand people,“ said Petr Šimon of Skanska CZ.

The main lessee of the project’s administrative spaces in the first phase will be Siemens who will relocate its Czech headquarters into the new buildings.

West City will be built in several consecutive phases. Apart from building modern administrative centres, FINEP is planning to launch a new, attractive residential quarter every year with a total number of ten thousand homes. In 2008, the construction of the first one, the British Quarter, will be started.

West City in numbers, 1st phase of the project:

Offices to lease – over 100,000 m2 Residential area – 40,000 m2 Green areas – 75,000 m2