Skanska (STO:SKAB) Acquires Residential Projects
Ft Lauderdale, Florida 2/09/2010 04:30 AM GMT (TransWorldNews)
Skanska (STO:SKAB) has announced that it has acquired the building rights and progressive project plants for 280 cooperative apartments in the Gothenburg area. The company’s total investment in the completion of the projects are SEK 1.2 billion. One project, the Fiskeback project, stands close to the Fiskebackmarina southwest of Gothenburg. It holds 140 apartments, with 140 underground parking places and 125 berths. The other project, Johannesburg, is within walking distance of the central districts of Gothenburg. It too holds 140 apartments, with 130 underground parking spaces. Sales are anticipated to being in 2010 and 2012 with occupancy in 2011-2012 and 2013, respectively.
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Skanska AB is a Sweden-based construction and project development company. It has four business areas: Construction that handles construction of non-residential and residential buildings, as well as civil construction projects; Residential Development that initiates and develops residential projects for sale; Commercial Development that initiates, develops, leases and divests commercial property projects, focusing on office buildings, shopping malls and logistics properties, and Infrastructure Development that develops manages and divests privately financed public infrastructure projects, such as roads, hospitals, schools and power generating plants. The Company's home markets include Sweden, Norway, Denmark, Finland, Estonia, Poland, the Czech Republic, Slovakia, Hungary, the United States, the United Kingdom and Latin America.
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