Skanska Commercial Development Norway invests about NOK 530 M, about SEK 570 M, in office building in Oslo, Norway, in a 50/50 joint venture with Entra named Sundtkvartalet AS.
The construction contract is worth about NOK 680 M, about SEK 740 M, and will be included in order bookings for Skanska Norway in the second quarter of 2014.
The office building will have a leasable area of about 30,000 square meters, and have a strong focus on energy efficiency. Skanska Norway AS has signed a lease contract with Sundtkvartalet AS, and will move into the new office building, as one of several tenants, when it is completed.
Construction will start in October 2014, with completion scheduled for early 2017.
Skanska Commercial Development Nordic initiates and develops property projects in offices, logistics, business premises and commercial buildings. The company’s operations are concentrated in the three metropolitan regions in Sweden, the Copenhagen region in Denmark, the Oslo region in Norway, as well as Helsinki in Finland. The development of logistics and volume retail properties is conducted in strategic locations in Sweden, Denmark and Finland.
Source: http://www.skanska.com