Swedish construction giant Skanska expects to invest around Skr510m (€55m) for a Polish office development located in Warsaw.

The first phase of the project will involve construction of a single building with two underground storeys and 11 storeys, which are to be developed above ground.

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The building is expected to offer a cumulative leasable area of around 21,000m² when completed.

The entire project will comprise two more office building constructions, and is expected to receive LEED Platinum certification.

"The entire project will comprise two more office building constructions, and is expected to receive LEED Platinum certification."

All three developments will be offering a total leasable area of around 84,000m², Skanska said.

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The highest among the three developments will be a 34-storey tower, which is expected to rise up to 140m or 180m if the spire is included.

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Construction works for the first phase of this office development project have been scheduled to start from this month and are expected to be completed in the fourth quarter of 2017.

The development works will be carried out by Skanska Commercial Development Europe, a company division responsible for office property projects.

It operates across metropolitan areas of the Czech Republic, Hungary, Romania and Poland through its four local units Skanska Property Czech Republic, Skanska Property Hungary, Skanska Romania and Skanska Property Poland.

Skanska has recently sold another office property Green Court to Globalworth Real Estate Investments for approximately €47m.

The office development is located in Bucharest, Romania and includes three office buildings, offering a total leasable area of around 54,500m².