Swedish property and construction firm Skanska has acquired land on the residential island of Kungsholmen, part of Central Stockholm.
The company paid SEK 520 mln (€44 mln) to the City of Stockholm and plans to build a new 28,000 m2 office building on the location.
Skanska has access to the first phase of the Lindhagenskvarteren development area as the property has now been transferred.
The acquisition is the first stage of a bigger land purchase agreement between Skanska and the City of Stockholm.
Over the past 20 years, the western portion of Kungsholmen has experienced significant growth and is currently one of Stockholm's most desirable areas for work and living due to excellent communications, mixed-use housing, and first-rate services.
The area's final section, Lindhagenskvarteren, consists of about 90,000 m2 of new offices.
