Commercial property
Our Commercial property services create healthy, environmentally responsible and customer-focused offices and properties.
What we do
We initiate, develop, lease and divest properties built by Skanksa's Construction business stream. These buildings contribute to tenants' well-being and creativity. We focus on office buildings, shopping centers and logistics properties.
View some of our Commercial property projects in the Projects section
How we do it
The development of commercial projects is a continuous process with a number of clearly defined phases. The average development cycle from project idea to completion is five to seven years.
- Building permit and zoning
All acquisitions of land are preceded by macroeconomic and local market analysis. A major step in value creation is taken when the zoning plan is approved for undeveloped land. - Design and pre-construction
The design is based on previous experience and adjusted to local market demands, aimed at creating appropriate premises for tenants and property investors as well as enabling efficient construction execution. - Construction and leasing
A successful leasing process usually begins in connection with the start of construction, with most leases signed before construction is completed. The construction projects are carried out by Skanska's local construction units. - Property management
Property management and work with customers can add further value to the property. - Divestment
All projects are developed with divestment as the ultimate goal. Divestment occurs when Skanska has provided maximum value to the project within its competency areas.
Where we do it
We are active in a number of selected home markets in the Nordic Region (Sweden, Norway, Finland, Denmark), Europe (Poland, Czech Republic, Hungary, Romania) and USA.
In the related links section you can explore our commercial property offer in the countries where we operate.
Competitors
Here is a selection of our competitors in Commercial Property Development:
- Boston Properties
- Echo investment
- Ghelamco
- Hines
- Lemminkäinen/YIT
- NCC
- Atrium Ljungberg
- Trammell Crow
- Vasakronan
Market outlook 2019
Vacancy rates for office space in most of the Nordic and Central European cities where Skanska has operations are stable. In Sweden vacancy rates are low and rents are high. Demand for office space is strong in Poland and in other parts of Central Europe as well. In USA, demand from tenants is good in Boston and Seattle, while somewhat weaker in Washington D.C., and Houston’s energy corridor.
Modern properties with high quality tenants are in demand from property investors, resulting in attractive valuations for these properties. Investor appetite remains strong in the Nordics, especially Sweden, USA and Central Europe, but the number of shortlisted investors in transactions are fewer and more selective regarding investment objects. Yield levels in Sweden and in USA have likely bottomed out.
Do you want to join us?
We develop and build thousands of projects each year and manage the people, the finances, the design, the construction and the suppliers.
Search and apply for Skanska jobs worldwide at Job opportunities.
