Skanska said it is launching the development of commercial projects in Finland, for an initial investment of SEK 290 mln (EUR 31.6 mln). In central Helsinki, Skanska is to develop a new office property with 10,000 m[sup]2[/sup] of floor space. The company added that the first leasing contract has already been signed for the premises. Construction is scheduled to commence during the third quarter of 2007, and delivery is planned for the second quarter of 2009.
Skanska said it is launching the development of commercial projects in Finland, for an initial investment of SEK 290 mln (EUR 31.6 mln). In central Helsinki, Skanska is to develop a new office property with 10,000 m2 of floor space. The company added that the first leasing contract has already been signed for the premises. Construction is scheduled to commence during the third quarter of 2007, and delivery is planned for the second quarter of 2009.
'The fact that we are expanding into the Finnish market is logical. The business model that has long been successful in Sweden, Denmark and Central Europe will also generate a healthy return in Finland,' said Fredrik Wirdenius, president of Skanska’s commercial development department for the Nordic region. 'Tenants are demanding modern and efficient premises, at the same time as international investors are showing an increasing interest in the Finnish real estate market. We also have solid ground on which to develop the operation, since Skanska in Finland is excellently established as both a developer of residential projects and as a contractor. We are focusing on developing offices in Helsinki and retail complexes in growth regions.’
Jan Johnsson, who has extensive experience of Skanska's commercial project development activities in Sweden, Denmark and Hungary, will be responsible for building up Skanska's operations involving the development of commercial projects in Finland. Skanska will develop real estate projects involving offices, logistics facilities and shopping centres.
