Skanska Norway has secured a housing project building contract in central Lillestrøm valued at Nkr490m ($56.82m).
Called Aveny Vest, the project involves development of 176 residential apartments divided into three houses.
It will be Skanska’s first BREEAM-certified housing project in the country. BREEAM is an international standard for a construction project that sets specific requirements for indoor climate, lighting conditions, ventilation and usage of non-toxic materials.
In addition, it includes strict requirements during the construction process and ensures the use of environmentally friendly methods.
BREEAM also encompasses safe and healthy requirements for the construction workers and people who live near to the site, while the project is being built.
With construction scheduled to start from the first quarter of next year, the project is expected to be ready for delivery by 2021. The next sale is scheduled to start next year.
Out of the total contract value, Skanska has booked Nkr304m ($35.25m) in its current order bookings for the fourth quarter of this year. The remaining amount will be booked in 2019 and 2020.
Headquartered in Stockholm, Sweden, Skanska is one of the leading development and construction companies in the Nordic region.
With more than 15,000 employees, the company provides engineering and construction services in Sweden, Norway, and Finland. It is also engaged in the development of residential and commercial property projects in selected home markets.
It offers its services through public-private partnerships. Last year, Skanska recorded sales of Skr65bn ($7.17bn).