Skanska invests USD 112M, about SEK 940M, in a multi-family development project in Washington, D.C., USA

Skanska will develop and build a new 12-story, 326-unit luxury apartment building in Washington, D.C. The building includes ground-floor restaurant and retail space. The building is targeting LEED Silver certification.

This project is a part of a three-building, mixed-use development Skanska is currently planning, which will offer 54,000 square meters of innovative office space, 326 apartments, 2,800 square meters of restaurants and retail and an open-air courtyard.

Skanska will begin construction in October 2016 and is scheduled to be completed in fourth quarter of 2018.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 10,000 employees and its 2015 revenues were SEK 54.5 billion.