Skanska has signed an agreement for the development of a residential block and commercial premises at Masthuggskajen mixed-use neighborhood in Gothenburg, Sweden. 

The contract is valued at about Skr340m ($33.5m). 

This development is a collaborative effort with real estate company Elof Hansson Fastigheter and Swedish housing company Riksbyggen. 

The project will introduce 114 new apartments to the area, with Riksbyggen overseeing the construction of 69 condominium apartments and Elof Hansson Fastigheter managing 45 rental apartments.  

Additionally, the development will include around 3,000m^² of commercial space.  

The design comprises three interconnected buildings, with a three-storey structure situated along two 18-storey towers.  

The commercial spaces will occupy the ground levels, with residential units above. 

Furthermore, the project will aim to achieve a 25% reduction in climate impact from concrete and reinforcing steel used during the construction phase.  

The initiative is set to be environmentally certified to Miljöbyggnad Silver level. 

Preparation for the construction is currently in progress, with the actual building work slated to commence in the first quarter of 2024.  

The completion of the residential and commercial complex is anticipated by spring 2027. 

In a separate development, Skanska, together with its equal joint venture (JV) partner Obos, plan to develop new residential block in Fornebu, Norway with a total investment of Nkr1.1bn ($104.75m). 

The new block comprises 121 apartments is the most recent part of the larger residential development project, Nansenløkka.  

Construction is expected to begin during the second quarter 2024. It is planned for completion in the second quarter of 2026.