SOLNA (dpa-AFX) - Skanska AB (SKSBF.PK, SKAb.ST) Wednesday said that it has divested a residential and hotel project at Ørestads Boulevard 31 in Copenhagen, Denmark to Urban Partners for 890 million Swedish Kroner or 608 million Danish Kroner.
The transaction will be recorded by Skanska Commercial Development Nordic in the fourth quarter of 2025, with ownership being transferring upon completion of the construction in the summer of 2028, the company added.
According to the Swedish construction company, the five-storey project is of 13,100 square metres, including 8,400 square metres of residential space and 4,700 square metres for hotel use. It will include 210 residential units, 143 hotel apartments, and a 1,350-square-metre courtyard, Skanska said in an official statement.
Being developed by Skanska A/S, the project is expected to ease the shortage of flexible urban housing in Ørestad and will be certified under DGNB Gold. The project benefits from strong transport links, including proximity to the Metro, regional trains, the motorway, Copenhagen Airport, and the Øresund Bridge, the company added.
On the OTC Markets, SKSBF.PK ended Monday's trading at $26.75, up $0.10 or 0.38 percent.
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