Skanska to build cinema center at Fisketorvet for SEK 125 M

Skanska to build cinema center at Fisketorvet for SEK 125 M

Skanska has been contracted to construct Denmark's largest cinema center, with seating for 3,200 moviegoers in ten theaters. The order is valued at about SEK 125 M. The customer is the Swedish exchange-listed real estate company Piren AB.

The new cinema center is part of the Fisketorvet Shopping Center, Denmark's largest building construction project in progress which is currently being constructed by Skanska Jensen for a total of SEK 720 M.

The Fisketorvet Shopping Center as well as the cinema center were developed by Skanska Øresund and sold earlier this year to Piren. Thereafter, project development generated construction assignments for Skanska Jensen totaling SEK 845 M.

"Fisketorvet is intended to be a living center, a meeting place with activities for most of the hours of the day. Through combining shopping and restaurants with a cinema center we are creating many excellent synergies for customers and shop and restaurant owners. In addition to good public transportation and communications, we will also be able to offer good parking possibilities," says Lars Johansson, property manager at Piren.

The tenant and operator of the cinema center is CinemaxX, Germany's largest cinema chain. Skanska Jensen is constructing a cinema center in Odense, Denmark, for the same operator.

In addition to the cinema center, the Fisketorvet Shopping Center, scheduled to open in the autumn of 2000, will include more than 100 shops and restaurants.

Fisketorvet is located centrally in Copenhagen's southern harbor, close to the Tivoli (fairground) area, the main railway line, subway station and other transportation at the approach to the Öresund Bridge.

Skanska Øresund owns land for development of approximately 150,000 sq. m. of office premises and about 20,000 sq. m. of residential units at Fisketorvet and on the adjacent Kalvebod Brygge site.

Stockholm, April 9, 1999

SKANSKA AB
Corporate Communications

For additional information, contact:
Peter Warming, Manager, Skanska Jensen A/S, telephone +45 44 77 99 99.
Sören Elster, manager of Skanska Øresund's Danish operations, telephone +45 44 77 99 97