Skanska has announced its plans to invest around Skr580m ($70.1m) in a multifamily project in Barkarbystaden, Järfälla, Sweden.
The project, called Parkkvarteret, will feature 220 rental apartments.
It will be developed by Skanska Rental Housing.
The construction contract is valued at around Skr370m ($44.7m), which is included in the order bookings for Skanska Sweden for the fourth quarter of 2020.
Located adjacent to the new Veddesta Bridge, the project will be connected to the commuter train station, future metro station and services, as well as park environments.
Skanska will develop an apartment building with 220 apartments in various sizes between one to five rooms.
The apartment block will feature garage and commercial premises on the ground floor and offer a range of services for residents and visitors.
The apartment will be constructed in line with Skanska’s own sustainability label called ‘Skanska Hållbar Hyresbostad’.
For the construction, the firm will use climate-compensated concrete such as Skanska green concrete, which provides up to 50% lower climate impact than conventional concrete.
Furthermore, the roofs will be equipped with solar cells that provide the building with electricity.
Work will commence in the first quarter of 2021 while the housing units will be ready for occupancy in 2023.
Skanska is a construction company based in the Nordics, with operations for construction and civil engineering in Sweden, Norway and Finland.
It develops residential and commercial property projects in home markets.
Skanska posted sales of around Skr70bn ($8.5bn) and had over 15,200 employees in its Nordic operations during 2019.