The number of realty projects the group will develop in Romania depends on available land to carry out such investments and on the evolution of office space rents, Karlstrom added.
Green Court Bucharest will include three class A office buildings with a total lettable area of 52,000 square meters. The first phase of the project has a lettable area of 19,500 square meters and is expected to be completed in August next year. Skanska will invest EUR46 million to develop it.
The second phase of the project will start after the first building finds tenants.
Karlstrom said the company finances all its projects with its own revenue resources.
In November 2012, Skanska bought a 15,000-sqm plot of land to develop the project from Romanian businessman Gabriel Popoviciu for aboutEUR17 million, VAT included.
Skanska is one of the world’s largest real estate developers and constructors. It is present in Sweden, Norway, Denmark, Finland, Estonia, Poland, the Czech Republic, Slovakia, Hungary, the UK, the U.S. and several countries in South America.
Skanska is listed in Stockholm and registered revenues of SEK132 billion (EUR15.1 billion) last year.