Skanska sees no sign of Swedish commercial property slowdown

STOCKHOLM Wed Aug 31, 2011 4:49am EDT

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STOCKHOLM Aug 31 (Reuters) - International construction group Skanska (SKAb.ST) is still seeing steady demand in the Swedish commercial property market while residential buyers remain cautious, the head of the company's Swedish business said on Wednesday.

Sweden last year accounted for about 23 percent of the company's 122 billion crown($19.2 billion) turnover. The firm is also active in the United States, Britain, other Nordic states and several eastern European markets.

"We have not seen any downturn in the economy on the commercial side yet," Skanska Sweden chief Anders Danielsson told Reuters. He said local public authorities remained interested in building flats for rent.

Buyers for residential property remained interested, as did their caution before investing. "We still see that," he said.

Danielsson said apartments and commercial property accounted for about 60 percent of Skanska Sweden's turnover, with the commercial side being a bit bigger than the residential division. ($1 = 6.365 Swedish Kronas) (Reporting by Oskar von Bahr, editing by Patrick Lannin)

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