Skanska to invest in Beverly Hills office development project

Skanska to invest in Beverly Hills office development project

(PRESS RELEASE) STOCKHOLM, 29-Oct-2020 — /EuropaWire/ — Multinational construction and development company Skanska (STO: SKA-B) announces it will invest USD 65 million (~ SEK 570 million / EUR 56 million), in its first Los Angeles office development project, which will be located in Beverly Hills. The construction contract is worth about USD 33.3 million, about SEK 290 million / EUR 29 million, and it will be included in the US order bookings for the fourth quarter 2020.

Located at 9000 Wilshire Boulevard in Beverly Hills, California, Skanska plans to develop and build a four-story, 4,270 square meter office building with roof top terrace and four below grade parking levels. The project will target LEED® Platinum certification.

Skanska expects to begin construction in the end of October 2020 and the project is scheduled to be completed in third quarter of 2022.

Since 2009, Skanska USA Commercial Development has invested more than USD 2 billion in office and multi-family projects, and has developed office headquarters for tenants including, Waste Management Inc., Bank of America, Brooks Sports, PricewaterhouseCoopers and Tommy Bahama.

Skanska is one of the leading construction and development companies in USA, specializing in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 74 billion and about 7,900 employees in its operations in 2019.

Media contacts:

Alicia Jones, Director – Communications, Skanska USA, tel + 1 703 835 2762
Jacob Birkeland, Head of Media Relations & Public Affairs, Skanska AB, tel + 46 (0)10 448 67 94
Direct line for media, tel +46 (0)10 448 88 99

SOURCE: Skanska AB


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