Skanska to build student housing skyscraper in Stockholm for SEK 422 M (SE)

Skanska has been awarded the contract to build student housing and a shopping gallery in the former "Skatteskrapan" skyscraper in Stockholm. The project includes both rebuilding and new production. The contract is worth a total of SEK 422 M (approx. €45m), which will be included in order bookings for the third quarter. The customer is the Swedish real estate company Svenska Bostäder.

The 81-meter tall, 25-storey building at Södermalm in Stockholm is to be converted from offices into student apartments, a shopping gallery, restaurants and - on the three uppermost levels - Stockholm's highest office premises. A new seven-storey building will also be constructed adjacent to the "Skrapan" building.

The project comprises a total of 59,000 m². Converted floor space accounts for 51,000 m² and new production for 8,000 m². The major part of the project comprises 476 student apartments, providing accommodation for 600 students. A shopping gallery will also be built on the lower levels of the buildings. The commercial premises comprise 9,000 m² of retail space and 7,000 m² of office space. In addition to stores and student apartments, the new building will also house 19 regular rental apartments.

"It is positive that we have come so far in the process that we could conclude an agreement with a general contractor. We are convinced that Skanska can help us meet our objective of creating favorable housing for students while at the same time preserving this culturally listed building," says Christer Danielsson, Project Manager at Svenska Bostäder.

"We are grateful that Svenska Bostäder has placed their trust in us and we look forward to implementing the project together with the customer. One area in which we can pool our joint resources to achieve optimal results is the purchasing of materials and services," says Torbjörn Wållgren, Business Manager at Skanska Sweden.

On-site preparations have been initiated and the project is scheduled for completion in August 2007.

The high-rise, built in 1959, is a culturally listed building with a characteristic design. Special considerations for the current project include local residents, the busy "Götgatan" street that runs close by, and the subway and Söderleden tunnel link that both run directly under the construction site.

Source: Skanska

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