Skanska may expand US office property business
Swedish developer targets several cities including San Francisco and Los Angeles where technology boom is fuelling demand for office space
Stockholm
SWEDISH construction company Skanska AB is considering expanding its US property development business to cities such as San Francisco and Los Angeles where a technology boom is fuelling demand for office space.
"We have the opportunity to do more now," Mats Johansson, head of Skanska's US commercial development unit, said in an interview in Stockholm. Skanska already operates in Washington, Seattle and Boston, where competition for prime land has made new projects harder to come by.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co