Skanska makes its first land acquisition in Romania

Press release 11/19/2012 10:00 AM CET

Skanska acquired its first plot in Bucharest, in the Floreasca-Barbu Vacarescu area, marking the company’s entry on the Romanian real estate market.

The 15,000 square meter land is located on Gara Herastrau Street, next to the Aurel Vlaicu metro station. The plot will accommodate a 3-phased, highly sustainable, office complex named Green Court Bucharest.

Green Court Bucharest is located in the Floreasca-Barbu Vacarescu area which has developed into the most dynamic office sub-market in the city. It attracts much attention from the tenant and investment communities thus making it an ideal location for Skanska’s first office development in Romania”, Andreas Lindelöf, President of Skanska Romania, emphasized.

Green Court Bucharest consists of three buildings, with a total leasable area of 52,000 square meters. The project will be LEED Gold certified and is designed in line with latest office trends, featuring a particular accent on quality. Skanska is also the general contractor and construction is expected to start in Q1 2013.

At Skanska, we build more than offices. With Green Court Bucharest, we aim to create a green office alternative with efficient solutions and a healthy working environment that adds quality and value for the tenants. Functional and environmentally sound work spaces are increasingly in demand by tenants and investors”, said Andreas Lindelöf.

Skanska has financed and developed 1.9 million square meters of commercial space, has more than 500,000 square meters of modern office buildings in the development pipeline and is planning to start a total of 200,000 square meters of new space in the next two years.