Skanska to develop and construct homes in Stockholm for SEK 400 M

Skanska to develop and construct homes in Stockholm for SEK 400 M

Skanska has established cooperation with Areim and Index Estate to construct and
participate in the development and financing of 224 tenant-owned apartments in
Kungsholmen, in central Stockholm. The contract amount for the construction
assignment amounts to SEK 400 M, which will be included in order bookings for
the first quarter. 

The new Västermalms Strand residential project is part of the transformation of
western Kungsholmen, in Stockholm, into a modern and attractive residential
area. 

Skanska has had a key role in the development of Västermalms Strand and is also
contributing part of the financing for the land acquisition, thus entitling the
company to a portion of future sales profits. The entire construction assignment
will be conducted by Skanska. 

The residential units will have a high environmental profile with extremely low
energy consumption, nearly achieving the level of a passive building. It has
also been decided that the buildings will be environmentally certified.

Sale of the apartments commenced recently and construction is expected to begin
in the second quarter of 2010, with the first occupancy expected in autumn 2011.


Skanska Sweden is one of the largest construction companies in Sweden, with
operations in the building and civil engineering area. The business unit has
approximately 10,000 employees and generated revenues of about SEK 30 billion in
2008. In Sweden, Skanska is also active in the development of residential and
commercial premises.

For further information, contact:

Ola Jansson, Business Developer, Skanska Sweden, tel +46 10 448 12 30.
Peter Gimbe, Press Officer, Skanska, tel +46 10 448 88 38.
Direct line for media: +46 10 448 88 99.

This and previous releases can also be found at www.skanska.com

Skanska AB may be required to disclose the information provided herein pursuant
to the Securities Markets Act.

Skanska is one of the world's leading project development and construction
groups with expertise in construction, development of commercial and residential
projects and public-private partnerships. The Group currently has 55,000
employees in selected home markets in Europe, in the US and Latin America.
Headquartered in Stockholm, Sweden and listed on the Stockholm Stock Exchange,
Skanska's sales in 2008 totaled SEK 144 billion.