Skanska to invest EUR 67m in Poland and Czech Republic

Skanska is starting three new commercial development projects in Central Europe. In Warsaw, the company has started the second phase of the Marynarska Point office building, which will involve an investment of about EUR 32.6 mln. The property comprises about 14,000 m² and is located in the Mokotov business district. Skanska has also started its first office project in Wroclaw, southwestern Poland. The first phase of the Grundwaldzki Center in central Wroclaw comprises about 11,000 m². Skanska's investment amounts to about EUR 21 mln.

At the same time, construction for a 5,000-m² office project started in the Czech capital of Prague. The company's investment comes to EUR 13 mln. Completion for Vysehrad Victoria is scheduled for spring/summer 2008. Leasing activity has also been started.

'We note increased interest in our projects and demand is strong in these markets. Vacancies have been declining in the past quarters in Warsaw and Prague,' said Lars Vardheim, President of Skanska Commercial Development Europe.

Skanska has two ongoing investment projects in Central Europe. The first phase of the Marynarska Point project is being constructed in Warsaw and will be completed during the first quarter of 2008. In the Hungarian capital of Budapest, Nepliget Center, a 10,000-m² office center, is under way.