Skanska invests €75 mln in Typhoon project in Malmö

Swedish development and construction firm Skanska is investing SEK 680 mln (€75 mln) in the Tyfonen (Typhoon) project in Malmö, Sweden.

The building will comprise 22,000 m2 over 14 floors dedicated to public spaces, offices and hotels. The first tenant, Story Hotel, has signed a 15-year lease for 4,200 m2.

Tyfonen has a waterside location, with Malmö Central Station and the City Tunnel within three minutes walking distance. Skanska has previously developed several office buildings in the area.

The construction contract amounts to SEK 480 mln and will be included in the order bookings for Skanska Sweden in the fourth quarter 2013.

Construction of the project is planned to start in spring 2014 and scheduled to be completed in 2016.