Swedish property group Skanska has acquired a plot of land for residential development in Stockholm from construction company Trelleborg Group. The purchase price will amount to about €33 mln and will be based on the assessed development level. Skanska said it will initially pay €11 mln, raising this amount to a total of €33 mln, depending on the assessment of the detailed plan.
Swedish property group Skanska has acquired a plot of land for residential development in Stockholm from construction company Trelleborg Group. The purchase price will amount to about €33 mln and will be based on the assessed development level. Skanska said it will initially pay €11 mln, raising this amount to a total of €33 mln, depending on the assessment of the detailed plan.
The project will include about 40,000 m2 of commercial premises and some 500 residential units, with completion scheduled for 2009. The property is located in a highly attractive location adjacent to Hammarby Sjöstad, where Skanska has constructed 268 other residential units.