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Skanska invests in land in Texas, USA for USD 27 M, about SEK 236 M

8/5/2020 7:30 AM CET
Press release

Skanska has acquired about 11,500 square meters of land in Houston, Texas. The seller is Houston Westmont LP and the acquisition amounts to USD 27 M, about SEK 236 M.

Located in the Montrose neighborhood of Houston, in between Midtown and River Oaks, Skanska plans to develop a mixed-use project which could consist of multi-family, retail, and office tower for the local community. The project will target LEED® Platinum certification.

Since 2009, Skanska USA Commercial Development has invested more than USD 2 billion in office and multi-family projects, and has developed office headquarters for tenants including, Waste Management, Bank of America, Brooks Sports, PricewaterhouseCoopers and Tommy Bahama.

Skanska is one of the leading construction and development companies in USA, specializing in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 74 billion and about 7,900 employees in its operations in 2019.