Skanska to build new city district

Skanska to build new city district with approximately 500 new residential units in Lidingö near Stockholm Skanska has completed plans for two housing projects that, combined, will result in a completely new city district. In all, 136 houses will be constructed at Gåshaga Strand, and 360 condominium units at Gåshaga Pirar, on the southeastern shore of Lidingö. The municipal approval has now been granted for the projects. The total project, which will be one of Stockholm's largest housing developments, is expected to cost at least SEK 1.2 billion. Skanska Residential Construction's two housing projects that are ready to get under way on the island of Lidingö are the result of Skanska's project development work, which involved cooperation with Cisterna in the case of the Gåshaga Pirar units. The industrial land on Lidingö's southeastern shore was acquired with the intention of developing new housing projects. One of the most sought-after sections of Lidingö thereby once again became accessible to the public following nearly a century as a closed industrial area. Nearly 500 housing units are being built close to the water. The new section will have the character of a small town but will be only 20 minutes from the center of Stockholm, which residents will be able to reach by local train as well as by car and bus. Skanska will be responsible for construction of all the housing units. The projects will be implemented by stages during the period between 1999 and 2003. Construction will start this autumn and plans call for the first units to be occupied in the spring of 2000. Ground for Gåshaga Pirar will be broken in September. A total of 350 housing units in multiple-family buildings will be constructed along the Lidingö shoreline. The Gåshaga Inn, with its fine old traditions, will be rebuilt. The Lidingö railway line will be extended to the water's edge, and boats plying the Stockholm Archipelago will call at Gåshaga, which will further enhance the value of the area. The new Gåshaga Strand housing development, which is adjacent to Gåshaga Pirar, consists of 136 homes with a view of the water. Boat docks, beach cabins and the proximity to transportation and schools will make the area one of the most attractive on Lidingö. -"We are pleased that the municipal approval for Gåshaga Strand have now been provided. It will give a lift to the entire area," says Ragnhild Jansson, who is responsible for marketing Skanska's projects at Gåshaga. "We are also beginning to sell the housing units in connection with the start of construction." "Gåshaga is one of a number of attractive housing developments that we are constructing in the Stockholm area right now," says Arne Olsson, Regional Manager of Skanska Residential Construction in Stockholm. "Our ambition is to build housing in locations where there is substantial demand. This applies to the surrounding municipalities as well as to the center of Stockholm." Stockholm, June 17, 1999 SKANSKA SWEDEN AB Information For additional information, contact: Ragnhild Jansson, Skanska Residential Construction Tel: +46 (0)8-627 3124 or +46 (0)70-689 31 24 This and previous releases are also available on www.skanska.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/06/17/19990617BIT00330/bit0001.doc http://www.bit.se/bitonline/1999/06/17/19990617BIT00330/bit0002.pdf