Skanska constructs shopping center in Espoo, Finland, for EUR 170 M, about SEK 1.8 billion

Skanska has signed a contract with Citycon Oyj, a leading owner, manager and developer of urban shopping centres in the Nordic and Baltic region, to construct the Lippulaiva shopping center in Espoo, Finland. The contract is worth about EUR 170 M, about SEK 1.8 billion, which will be included in the Nordic order bookings for the fourth quarter 2019.

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The shopping center, located in the Espoonlahti area, will have a gross area of 44,000 square meters. The complex will include a bus terminal and parking facilities for both cars and bicycles, as well as facilities for public services. The main focus area of the shopping center will be groceries, and there will be about 80 different stores and services available. Lippulaiva will be a zero net energy building.

Skanska will begin the preparations for its construction works immediately, and the expected completion time for the project is spring 2022.

Skanska is one of the leading development and construction companies in the Nordics, with operations in building construction and civil engineering in Sweden, Norway and Finland, and developing residential and commercial property projects in select home markets. The commercial development stream is also active in Denmark. Skanska had sales of about SEK 67 billion and more than 15,500 employees in its Nordic operations during 2018.