Skanska to construct shopping center in Oulu, Finland for EUR 42 M, about SEK 374 M

5/6/2014 1:45 PM CET
Press release

Skanska has signed a contract with Osuuskauppa Arina to construct a shopping center and residential apartment complex in Oulu, Finland. The investment amounts to a total of EUR 100 M, about SEK 890 M. Skanska’s construction contract is worth approximately EUR 42 M, about SEK 374 M, which will be included in order bookings for Skanska Finland in the second quarter 2014.

The property will be constructed in the center Oulu, with a gross area of 37,150 square meters. The agreements signed by Skanska and Arina include the construction of the new shopping center Valkea, renovation of the existing commercial premises in the facilities, and the implementation of a pedestrianized area combining the two.

Construction work of the shopping center has begun, and the aim is to open the entire shopping center in spring 2016. The apartments will also be completed at the same time.

Skanska Finland is one of the leading construction companies in Finland. The company is active in building construction, residential and commercial premises, as well as civil engineering projects. The combined sales for Skanska Oy’s operations in 2013 were SEK 7.1 billion and the company employed about 2,190 people. In Finland, Skanska is also active within development of residential, office and PPP projects.