Skanska acquires 50 percent of Gamla Filmstaden - 550 appartments to be built in Solna

Skanska acquires 50 percent of Gamla Filmstaden - 550 appartments to be built in Solna

Skanska is to purchase 50 percent of Gamla Filmstaden Exploatering KB, which intends to develop the Filmstaden 15 property in Solna. The purchase price is SEK 100 million and the seller is Lundbergs. The other joint owner of the company behind Gamla Filmstaden is HSB Stockholm.

Skanska and HSB intend to combine efforts to build 550 apartments and create 12,000 square meters of commercial space.

"This is an interesting project which demonstrates our desire to create more housing in the Stockholm region," says Arne Olsson, Regional Manager of Skanska Residential Construction.

"This transaction forms part of Skanska's strategic investment in the development of housing projects. Skanska Residential Construction is the division within Skanska Sweden that specializes in housing development. Our business concept is to develop sound, safe and attractive homes," says Skanska Residential Construction's division manager Tomas Ringdahl.

In 1998, Skanska Residential Construction began the building of 1,400 apartments. The objective is to begin the construction of 8,000 apartments in Sweden in the next three years. The majority of these will be built in the growth regions around Stockholm, Gothenburg, Malmö and Mälardalen.

During 1998, Skanska Residential Construction acquired 3,500 building rights in Sweden at a total cost of SEK 600 million and currently owns land sufficient for the building of 10,000 homes. The intention is to purchase a further 3,000 building rights per year during the next three years.

Solna, January 8, 1999

SKANSKA SWEDEN
Information

For further information, contact:
Tomas Ringdahl, Division Manager, Skanska Residential Construction, 040-14 40 00
Arne Olsson, Regional Manager, Skanska Bostäder Stockholm, 08- 627 30 00
Lisa Lindh, Information Officer, Skanska Sweden, 040-14 41 41