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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. 

  1. 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.
  2. 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.
  3. 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.
  4. Property management
    Property management and work with customers can add further value to the property.
  5. 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
  • Skanska Fastigheter
  • 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.

Commercial property contact information

For further information on commercial property please contact us

Links to Skanska websites in countries where we offer commercial property services

Financial figures for Commercial Property Development

View key figures, market drivers and trends for Commercial Property Development, Skanska's business stream which provides offices and properties.

Commercial Property Development