Skanska sells ongoing office project in Malmö to Aberdeen

Skanska sells the ongoing office project Citykajen in Malmö. The buyer is Aberdeen Property Nordic Fund I SICAV-FIS and handover is on September 30, 2009.

The sale refers to the two phases of the project Citykajen at Universitetsholmen in Malmö, together comprising about 14,200 square meters of leasable space. The project was started at year-end 2006 and will be completed during the third quarter 2009. Skanska’s investment amounts to about SEK 375 M. Major tenants in Citykajen are Banverket (Swedish Rail Administration) and Öhrlings PriceWaterhouseCoopers and the occupancy rate is about 94 percent. Citykajen was designed by architect Lars Iwdahl, Arkitektbyrån. – We are very happy to be able to complete our portfolio with Malmö’s best office property – both in regards to location and the quality of the building as well as the tenants, says Magnus Kenning, responsible for the transaction at Aberdeen Property Investors. – The successful leasing and our ability to sell the project before completion show that the location close to the City Tunnel station and at Universitetsholmen is very strong. It’s also evident that modern and flexible offices that are energy efficient attract tenants as well as investors, says Camilla Wieslander, Marketing and Transaction Manager, Skanska Öresund Malmö. Lately we have also seen an increased interest from international investors in acquiring properties in the Nordics. Citykajen is one of several modern office properties that Skanska is developing at Universitetsholmen in Malmö. Skanska has already developed the property Hjälmarekajen next to Citykajen and developed and sold the new Court of Appeals building a few blocks away. Just recently the new office project Bassängkajen was started, with Malmö University as the first tenant. In accordance with Skanska’s information policy, the sales gain for commercial development properties under construction is not disclosed. The development gain is reported quarterly in pace with completion of the project. Skanska Commercial Development Nordic initiates and develops property projects within offices, logistics centers and retail warehouses. Office operations focus on the three large metropolitan regions in Sweden, the Copenhagen region in Denmark and Helsinki, Finland. The development of logistics centers and volume retail properties is conducted in strategic locations in Sweden, Denmark and Finland. Skanska Commercial Development Nordic Region is divided into five regional companies: Stockholm, Gothenburg, Öresund Malmö, Öresund Copenhagen and Helsinki. For further information please contact: Camilla Wieslander, Marketing and Transaction Manager, Skanska Öresund Malmö, tel +46 10 448 32 89. Peter Gimbe, Press Officer, Skanska AB, tel +46 10 448 88 38. Direct line for media: tel +46 10 448 88 99. Magnus Kenning, Investment Management, Aberdeen Property Investors, tel +46 8 412 86 33.