Skanska invests USD 94 M, about SEK 613 million, in a new office building in Houston, USA

Business Wire

ÖSTERSUND, Sweden--(BUSINESS WIRE)--

Regulatory News:

Skanska is investing USD 94 M, about SEK 613 million, in a new office building in The Energy Corridor in Houston, USA. The total leasable area will be approximately 30,000 square meters. Skanska USA Building will implement the project at a contract value of USD 55 M, about SEK 360 M, which will be included in order bookings for the third quarter of 2013.

The development features a 12-story office building connected to a nine-story parking garage with more than 1,300 spaces for tenants and visitors. The large amount of green space throughout the property strikes an appealing balance between working life and the surrounding green areas. The development is targeting LEED Gold certification.

Petroleum Geo-Services (PGS) is the first tenant and will occupy 11,300 square meters of the building.

The project will start in September 2013 and is expected to be completed in the first quarter 2015.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development, which develops public-private partnerships; and Skanska Commercial Development, which develops commercial projects in selected U.S. markets. Headquartered in New York, Skanska USA has approximately 8,300 employees and revenues in 2012 were SEK 37.3 billion.

Skanska AB may be required to disclose the information provided herein pursuant to the Securities Markets Act. Skanska is one of the worldʼs leading project development and construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. Based on its global green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has 57,000 employees in selected home markets in Europe, in the US and Latin America.

Headquartered in Stockholm, Sweden and listed on the Stockholm Stock Exchange, Skanska's sales in 2012 totalled SEK 132 billion.

This information was brought to you by Cision http://news.cision.com

Contact:
For further information, please contact:
Jessica Murray, Head of Communications – Project Development, Skanska USA, tel +1 404 946 7468
or
Edvard Lind, Group Press Officer, Skanska AB, tel +46 (0)10-448 88 08
Direct line for media: tel +46 (0)10 448 88 99

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