Skanska Reality, the residential arm of the Swedish construction giant, will now concentrate solely on the Prague market in the Czech Republic. The company will offload some of its land in the regions until 2015, according to its sales and marketing director Naděžda Ptáčková. The step stems from the global restructuring of Skanska’s residential business; while in UK and Poland development will continue as it is, the plans in Scandinavia, the Czech Republic and Slovakia will be reduced. “Weak regional market is the reason in the Czech Republic,” explains Ptáčková. Skanska has already written off CZK 230m of its land bank value in the Czech and Slovak markets. The lay-offs will happen mainly in Sweden, where Skanska plans to reduce its staff by 110 people.
