Skanska invests €170m in third phase of Polish office project
November 12, 2018 – Swedish construction and development company Skanska will invest €170m (SEK1.8bn) in the third phase of Generation Park, an office project located in Warsaw, Poland.
The construction contract, amounting to SEK850m ($94m), will be booked in the fourth quarter 2018.
The third and highest building, with a total leasable area of around 47,000m², will consist of 38 storeys above ground. This will be the first 140-metre office high-rise building delivered by Skanska in Poland.
Generation Park will be the Swedish company’s largest office development in Central and Eastern Europe.
The complex, consisting of three office buildings, will have a total leasable area of around 84,000m².
The project is expected to receive LEED Platinum and WELL certification, and all the buildings within the project will be independently certified as a ‘Building without barriers’ for its accessible design, inclusive for people with disabilities.
Construction on the third phase commenced in November 2018 and is scheduled for completion in the first quarter of 2021.
In October 2018, Skanska Sweden invested in an office building in central Jönköping and this property was simultaneously sold to Vacse for about SEK 500 M ($55m).
Swedish Agencies for Agriculture and Forestry (Jordbruksverket and Skogsstyrelsen) have become tenants.
The construction contract, amounting to SEK330m ($36.4m), was awarded to Skanska Sweden and will be booked in the fourth quarter 2018.
The transaction will be reported in the Commercial Property Development stream in the fourth quarter of 2018.
Construction began in October 2018 and the company intends to complete the building and hand it over in early 2021.
This is Skanska’s first office building project in the new district, where housing will be built in the future. It has a total area of 16,400m² and the house is between five and nine floors high. The house will also accommodate a café section.
Outside the Nordics, the Swedish company also has European operations in building construction and civil engineering in Poland, Czech Republic and Slovakia and the UK.