Skanska selling ongoing office project in Budapest

12/20/2007 8:49 AM CET
Press release

Skanska is selling the Nepliget Center office project in Budapest for EUR 72.2 M, about SEK 670 M. The buyer is an international real estate fund that will takeover the property in pace with its completion.

Only a small portion of the project is leased out. Skanska is responsible for leasing of the project for two years after completion. The final development gain depends to a great extent on the success of the leasing activity.