Skanska invests USD 112M, about SEK 940M, in a multi-family development project in Washington, D.C., USA

Skanska is investing USD 112M, about SEK 940M in a new multi-family development in Washington, D.C., USA. Skanska USA Commercial Development is both the developer and owner. Skanska USA Building is the construction manager and will include a contract worth USD 76M, about SEK 640M, in the order bookings for the third quarter 2016.

Skanska will develop and build a new 12-story, 326-unit luxury apartment building in Washington, D.C. The building includes ground-floor restaurant and retail space. The building is targeting LEED Silver certification.

This project is a part of a three-building, mixed-use development Skanska is currently planning, which will offer 54,000 square meters of innovative office space, 326 apartments, 2,800 square meters of restaurants and retail and an open-air courtyard.

Skanska will begin construction in October 2016 and is scheduled to be completed in fourth quarter of 2018.

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 USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 10,000 employees and its 2015 revenues were SEK 54.5 billion.

For further information, please contact:

Beth Miller, Communications, Skanska USA, tel: +1 917 438 45 23

Andreas Joons, Press Officer, Skanska AB, tel +46 (0)10 449 04 94

Direct line for media, tel +46 (0)10 448 88 99

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The information provided herein is such as Skanska AB is obligated to disclose pursuant to the EU market securities act (EU) no. 596/2014.

Skanska is one of the world’s leading construction and project development companies, focused on selected home markets in the Nordic region, other European countries and North America. Supported by global trends in urbanization and demographics, and by being at the forefront in sustainability, Skanska offers competitive solutions for both simple and the most complex assignments, helping to build a sustainable future for customers and communities. The Group currently has 43,100 employees in selected home markets in Europe and North America. Skanska's sales in 2015 totaled SEK 155 billion.

About Us

Skanska is one of the world’s leading project development and construction groups with expertise in construction, development of commercial and residential premises, and public-private partnerships projects. Based on its global green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has 41,000 employees in selected home markets in Europe and North America. Skanska's sales in 2016 totaled SEK 151 billion.