SOLNA (dpa-AFX) - Skanska AB (SKSBF.PK, SKAb.ST) Friday said that it has decided to divest the second phase of its H2Offices office complex in Budapest, Hungary, to ERSTE Open-Ended Real Estate Investment Fund, represented by ERSTE Alapkezelo Zrt. The transaction is valued at 98 million euros or approximately 1.1 billion Swedish Kroner.
The construction and real estate development company said that the transaction will be recognized by Skanska Commercial Development Europe in the third quarter of 2026, with the property transfer scheduled for the fourth quarter of 2027.
Skanska AB said that the second phase comprises approximately 22,000 square meters of leasable office space and is fully leased to a global company under a 10-year lease agreement. The building is currently under construction and is expected to be completed in the first quarter of 2027.
The company said that H2Offices is a three-building office complex located in Budapest's Váci Office Corridor. Upon full completion, the development will provide approximately 67,000 square meters of modern office space.
On the Stockholm Exchange, SKAB.ST ended Thursday's trading at 277.90 Swedish Kroner, down 4.10 Swedish Kroner or 1.5 percent.
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