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Skanska AB and Areim form joint venture

Monday, 9 Dec 2013 08:15am EST 

Skanska AB:Says Skanska and Areim are founding a 50/50 joint venture company to develop apartments in Hammarby Sjostad, Stockholm, Sweden.Says the name of the entity will be Sjostadsbo AB.Says the joint venture company will acquire about 700 development rights from Skanska for a market value of about 750 million Swedish crowns.Says ground works have started and the sales for the first apartment are planned to begin in Jan. 2014.Says Skanska will be the general contractor for Sjostadsbo AB’s projects.Says Skanska Sweden will carry out the work in stages over the years 2014-2021, and the total contract value is estimated to 2 billion Swedish crowns. 

Company Quote

-0.2 -0.14%
29 Aug 2014