Skanska sells Fisketorvet shopping center project in Copenhagen and receives construction order worth SEK 720 million
Skanska has sold land and rights for part of the Fisketorvet project in Copenhagen to Piren AB. The current sale relates to land on which a shopping center is to be developed. The purchase price is SEK 320 million (DKK 265 million). The sale will yield a capital gain of SEK 115 million, after taking associated company accounting into account.
| PRESS RELEASE, JANUARY 29, 1999 12/99 Skanska sells Fisketorvet shopping center project in Copenhagen and receives construction order worth SEK 720 million Skanska has sold land and rights for part of the Fisketorvet project in Copenhagen to Piren AB. The current sale relates to land on which a shopping center is to be developed. The purchase price is SEK 320 million (DKK 265 million). The sale will yield a capital gain of SEK 115 million, after taking associated company accounting into account. In connection with the sale, Skanska's Danish subsidiary Skanska Jensen was awarded the contract to construct the new shopping center complex. The order is valued at approximately SEK 720 million (DKK 600 million). The design-construct contract received by Skanska Jensen, which will be the largest building project currently under way in Denmark, covers everything from project engineering to the design of building structures, land work, construction and installations. The new shopping center, which will contain approximately 100 retail outlets, restaurants and a leisure center with a 15-screen movie theater, will be opened during autumn 2000. Project engineering, and certain land work, is already under way. Development of Fisketorvet was initiated by Skanska about ten years ago, with the aim of transforming the former harbor and quayside area in Copenhagen into a modern center of trade and activity. Fisketorvet has a central location in Copenhagen's southern harbor, close to the Tivoli (fairground) area, the main railway line and other forms of transport as well as the approach to the Öresund Bridge, scheduled to be completed in 2000. During recent years, Skanska Øresund has developed a total of 25,000 square meters of space in the Fisketorvet area for such customers as A-pressen Mediahus, IDA (the Danish Engineers Association) and the German bank Landesbank Kiel. Skanska Øresund owns an additional 170,000 square meters of development land at Fisketorvet and nearby Kalvebod Brygge, of which there are plans for about 20,000 square meters of residential premises.
Danderyd, January 29, 1999 SKANSKA AB
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