Skanska invests EUR 82m to develop trio of assets

Swedish construction and property group Skanska said it is investing about SEK 770 mln (EUR 82 mln) to develop a logistics facility in Gothenburg, Sweden and an office and media centre in Stockholm. Skanska said it is investing SEK 520 mln for an 18,000-m² office and media house to be used by Modern Times Group (MTG). MTG has signed a lease covering the major part of the new building, where it will consolidate its Swedish operations. Construction of the building will carried out by Skanska Sweden and will begin as soon as building permits have been received. Occupancy is planned for August 2009.

Meanwhile, Skanska is developing a logistics facility in Gothenburg, which will be occupied by courier company DHL on a long lease. Skanska said its total investment for that building, for which occupancy is planned for the first quarter of 2009, is about SEK 250 mln. The building comprises a freight terminal and offices totalling 20,000 m².

That contract follows the signing this autumn of four logistics contracts in Sweden and Denmark covering a total of 50,000 m² and involving an investment of about SEK 565 mln. ' We can see favourable growth potential in our logistics niche since many companies are investing in the development of their logistics,' Cecilia Fasth, president of Skanska Fastigheter Göteborg, said in a statement.