Skanska : gets construction contract worth NOK 490 M, about SEK 520 M, in Aveny Vest in Lillestrøm, Norway

12/13/2018 8:30 AM CET

Press release

Skanska Norway builds Aveny Vest, 176 residential apartments divided into three houses in central Lillestrøm, Norway. The construction contract is worth NOK 490 M, about SEK 520 M, of which NOK 304 M, about SEK 320 M, is included in Skanska Norway's order bookings for the fourth quarter of 2018. The remaining amount will be booked in 2019 and 2020. The investment amounts to a total of approximately NOK 640 M, about SEK 680 M, which were booked by Skanska Residential Development Nordic in the second quarter of 2016, and in the third quarter of 2017.

Aveny Vest is Skanska's first BREEAM-certified housing project in Norway. BREEM is an international standard that sets stringent requirements for good indoor climate, non-toxic materials, balanced ventilation and good lighting conditions. BREEM places strict demands on the construction process and the use of environmentally friendly methods, which will ensure a safe and healthy construction site, for those working there as well as for those who live nearby.

Construction start is set for the first quarter of 2019. All properties will be ready by 2021. Many of the apartments are already sold. Next sale starts next year.

Skanska is one of the leading development and construction companies in the Nordics, with operations in building construction and civil engineering in Sweden, Norway and Finland, and developing residential- and commercial property projects in select home markets. The commercial development stream is also active in Denmark. Skanska offers services in public-private partnerships. Skanska had sales of about SEK 65 billion and more than 15,000 employees in its Nordic operations during 2017.