Nordic developer Skanska has signed an agreement with Swedish student housing provider SGS Studentbostäder to build a student apartment complex in Gothenburg, for a fee of around SEK 385 mln (€36 mln).
The project will include around 327 beds aross six buildings, standing between seven and eight floors high. The toal development area is around 22,000 m2, according to the firm.
'It is very gratifying that we can implement this construction project for SGS Studentbostäder. We have been talking for several years about the possibility of jointly creating attractive student housing and now we have signed this agreement,' said Mikael Hammarfjord, district manager, Skanska Sverige.
According to Skanska, the demand for student housing is high in Gothenburg, as in most university cities in Sweden. The company said there are presently around 7,000 student accommodation units in the city.
Magnus Bonander, real estate manager at SGS Studentbostäder, said that the 327 apartments agreed with Skanska would contribute towards the company's goal of building 800 units over the next five years.
The construction work will begin in August 2019, with the apartments expected to be ready for occupancy during 2022.
