Skanska invests USD 360M, about SEK 3.2 billion in a new office project in Houston, USA

Skanska is investing USD 360M, about SEK 3.2 billion, in an office project in Houston, USA. The construction contract is worth USD 151M, about SEK 1.3 billion, which will be included in the U.S. order bookings for the first quarter of 2017.

Skanska will develop and build a new 35-story office tower in a prime downtown Houston location with about 72,500 square meters of office space and 2,400 square meters of rentable retail space. The project includes an 11-level parking garage. The anchor tenant is Bank of America, who will occupy about 20,000 square meters after completion.

The office is the first project in Houston development to reach LEED v4 Platinum precertification from the U.S. Green Building Council (USGBC). The building will use 25 percent less energy than typical facilities.

Skanska will begin construction in April 2017 and expects to complete construction in the second quarter of 2019.

Skanska USA Commercial Development has invested about USD 1.5 billion, about SEK 13 billion, in projects since 2009 and has developed corporate headquarters for Brooks Sports, PwC and Tommy Bahama.

Skanska is one of the leading development and construction companies in USA, specialized in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska also offers services in public-private partnerships. Skanska USA had sales of SEK 59 billion in 2016 and had about 9,300 employees in its operations.

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

This and previous releases can also be found at www.skanska.com

Skanska is one of the world’s leading construction and project development companies, focused on selected home markets in the Nordics, Europe and USA. 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 about 41,000 employees. Skanska's sales in 2016 totaled SEK 151 billion.