Skanska sells land in Warsaw for SEK 117 mln. (PL)

Skanska has sold land with building rights in Warsaw. The sales price amounts to SEK 117 million (approx. €11.4 mln.). The capital gain of SEK 94 million (approx. €9.1 mln.) will be reported in the third quarter. The buyer is the Canadian investment fund, Capital Park.

The land with building rights is located in Wilanow on the outskirts of Warsaw, and comprises 38,000 m².

"We are selling these building rights because the Wilanow area is turning into a residential area with elements of retail. That is outside our focus, which is developing commercial premises with a high environmental profile. In recent years, the price of building rights in Poland has developed strongly and we will receive excellent returns from the sale of the land, which we acquired in 2004," says Lars Vardheim, President of Skanska Commercial Development Europe.

In Poland Skanska Commercial Development Europe is currently developing five commercial projects in Warsaw and Wroclaw, totaling 74,000 m² of leasable area.

Skanska Commercial Development Europe initiates and develops property projects within offices and logistics. The operation is concentrated in Warsaw, Prague and Budapest as well as the selected Central European growth areas of Wroclaw, Poland and Ostrava, Czech Republic. The business operated in three local units: Skanska Property Czech Republic, Skanska Property Hungary and Skanska Property Poland.

Source: Skanska

Related News