Skanska divests the rental residential project Arkaden in Lund, Sweden, for about SEK 520M
Rhea-AI Summary
Skanska has announced the divestment of its rental residential project Arkaden in Lund, Sweden, to LF Skåne Hyresfastigheter for approximately SEK 520M. The project comprises 139 rental apartments and a grocery store, with about 11,000 square meters of leasable space. The transaction will be recorded in Q4 2024, with ownership transfer scheduled for Q2 2027. The construction contract, valued at SEK 340M, will be included in Skanska Sweden's Q4 2024 order bookings.
Located in Råbylund, about three kilometers from Lund's city centre, the project will be 20% more energy efficient than standard requirements, achieving energy class B. Construction is set to begin in spring 2025 with completion planned for Q2 2027.
Positive
- Secured sale of Arkaden project for SEK 520M
- Additional construction contract worth SEK 340M
- Project exceeds energy efficiency standards by 20%
Negative
- Long timeline between sale recording (Q4 2024) and ownership transfer (Q2 2027)
News Market Reaction
On the day this news was published, SKBSY declined 0.54%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
STOCKHOLM, Dec. 12, 2024 /PRNewswire/ -- Skanska divests a rental residential project with 139 rental apartments and a grocery store in Lund, Sweden, for about SEK 520M to LF Skåne Hyresfastigheter. The transaction will be recorded by Skanska Commercial Development in the fourth quarter of 2024, while transfer of ownership will take place in the second quarter of 2027. The construction contract, worth about SEK 340M, will be included in the order bookings for Skanska Sweden in the fourth quarter of 2024.
The Arkaden project is located in Råbylund, approximately three kilometers from Lund's city centre. The block will consist of approximately 11,000 square meters of leasable space.
According to the Swedish National Board of Housing, Building and Planning's calculation model for climate declarations the project shall be more than 20 percent more efficient, corresponding to 240 kg CO2/m2 gross area and it will achieve energy class B.
Start of construction is planned for spring 2025 and the project will be completed during the second quarter of 2027.
For further information please contact:
Olof Rundgren, Media Relations Manager, Skanska, tel +46 (0)10 448 67 94
Direct line for media, tel +46 (0)10 448 88 99
This and previous releases can also be found at www.skanska.com.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
20241212 SE Divestment residential project Lund | |
https://news.cision.com/skanska/i/image-1---arkaden,c3362107 | Image 1 - Arkaden |
https://news.cision.com/skanska/i/image-2---arkaden,c3362108 | Image 2 - Arkaden |
FAQ
What is the value of Skanska's Arkaden project sale in Lund (SKBSY)?
When will the Arkaden project construction begin and complete?
How many rental apartments will the Arkaden project include?
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What are the environmental specifications of the Arkaden project?
