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Skanska invests USD 265 M, about SEK 1.7 billion, in new office building in Boston, USA

8/6/2013 8:30 AM CET
Press release

Skanska is investing USD 265 M, about SEK 1.7 billion, in an office building in the Seaport District in Boston, USA. The total leasable space will be about 41,000 square meters. Skanska USA Building will implement the first phase of the project at a contract value of USD 132 M, about SEK 868 M, which will be included in order bookings for the third quarter of 2013.

The project is a 17 floor office and commercial building with ground floor retail, targeting a minimum of LEED Gold certification. PricewaterhouseCoopers (PwC) will occupy approximately 75 percent of the building at completion.

The project will start in July 2013 and is expected to be completed in the fourth quarter 2015.

The land purchase of USD 38 M, about SEK 250 M was made in December 2012, as previously announced.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development, which develops public-private partnerships; and Skanska Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has approximately 8,300 employees and its 2012 revenues were SEK 37.3 billion.

Contact: Pontus Winqvist, Managing Director Asset Management
Telephone +46 10 44 88 851