Skanska renovates residential towers in Philadelphia, USA, for USD 49 M, about SEK 340 M

1/16/2015 8:00 AM CET
Press release

Skanska has signed a contract with a confidential client to renovate a residential apartment tower in Philadelphia. The contract value is USD 49 M, about SEK 340 M, which is included in order bookings for Skanska USA Building for the fourth quarter of 2014.

Skanska will upgrade one of four residential towers containing 239 apartment homes as well as approximately 2,600 square meters of retail and amenity space. The scope includes the complete renovation of 239 apartment homes; replacement and upgrade of the plumbing, electrical and fire protection systems; repairs to the building’s entrance and underground parking garage; and substantial enhancements to resident amenities, including the pool area, retail spaces and landscaping.

Construction has begun and is expected to be completed in November 2015.

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 North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 9,600 employees and its 2013 revenues were SEK 43.5 billion.