Skanska to Construct 178-Apartment Residential Building in Fredriksdal, Stockholm

Skanska will construct a residential building with 178 apartments in Fredriksdal, Stockholm, for Sjöstadsbo AB. The contract is worth about SEK 340 M, which is included in order bookings for Skanska Sweden for the fourth quarter of 2014.

Sjöstadsbo AB is a joint venture company, owned 50 percent each by Skanska and Areim. The company was formed last year and bought about 700 development rights from Skanska to develop housing with good quality and good environmental performance. The current construction project is the first of five stages in the area.

The house will meet high sustainability standards and will be certified by Svanen, a Nordic eco-certification system that takes energy and material in to consideration but also things such as the indoor milieu.

The building is estimated to be completed autumn 2016.

Skanska Sweden is one of Sweden’s largest construction companies, with operations in building and civil-engineering construction. The business unit has approximately 11,000 employees and revenue in 2013 amounted to approximately SEK 30 billion. In Sweden, Skanska is also active in the development of residential construction and commercial premises.

Skanska AB may be required to disclose the information provided herein pursuant to the Securities Markets Act.

Skanska is one of the world’s leading project development and construction groups with expertise in construction, development of commercial and residential premises, and public-private partnership projects. Based on its global green experience, Skanska aims to be the client’s first choice for green solutions. The group currently has 57,000 employees in selected home markets in Europe, the US and Latin America. Skanska's sales in 2013 totaled SEK 136 billion.

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Source: http://www.skanska.com/

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