Skanska to launch Stockholm's largest green office project

International building group Skanska announced on Thursday that it is starting the first phase of the Lustgården office project on Kungsholmen in Stockholm.

The property will be the largest green office project in the Nordics and the most environmentally compatible project developed by Skanska to date. The investment amounts to SEK 1.4 bn (EUR 153 mln) and the construction contract for Skanska Sweden to approximately SEK 1 bn.

The phase starting now comprises about 35,000 m² of modern office premises. A second phase, consisting of an additional 20,000 m2, is on the starting blocks when demand requires it. The investment is Skanska’s single largest investment to date in the development of new offices. In a third phase, approximately 170 new residences are planned. Skanska expects to invest a total of approximately SEK 2.5 bn in the project in the next few years.

'The time is right for investing in offices of the future in Stockholm. There is currently a shortage of modern, efficient premises, with large cohesive areas. Lustgården will also have a very distinct environmental profile and strong communication location. We have already observed major interest in the rental market for this project,' said Jan Odelstam, president of Skanska Commercial Property Development Nordic.