Skanska reveals growth plan in Poland

Swedish construction and property group Skanska has unveiled a 116,000 m² development pipeline in Poland as part of an 'anti-cycle strategy'.

Skanska said it has launched five new projects in the capital and three regional cities over the past months. The developments, which are all targeting Leed certification, consist of Atrium 1, 18,000-m² office complex in Warsaw, Green Corner - which will provide 27,000 m² on completion later this year, Green Towers, a 23,100-m² office in Wroc³aw, the 33,000-m² Green Horizon in £ódŸ and Malta House in Poznan, due for completion in the third quarter of 2013. In total, the company invested a total of EUR 155 mln.

'Skanska as a global company sees the growing potential of Central and Eastern Europe,' said Nicklas Lindberg, president of Skanska Commercial Development Europe. 'Our focus on Poland in times of global economic volatility confirms our confidence in this market. As Skanska invests full equity in our developments, we enjoy the advantage of being able to benefit from our financial strength and starting new projects against the cycle.'

In total, the company has launched seven new projects in the CEE region last year, with a total of 146,000 m². 'We intend to launch seven new projects in 2012 in the region, which will deliver approximately 100,000 m² of new office space,' Lindberg added.