Skanska to invest SEK 600 M in new residences in Stockholm

Skanska to invest SEK 600 M in new residences in Stockholm

Skanska is to develop and construct 168 apartments in central Stockholm. The
investment will total SEK 600 M. 

The planned Iskristallen block in the Kungsholmen district of Stockholm is
expected to be completed in 2011. The sales process for the apartments will
commence in May.

“Our customers show great interest in our new homes and we are now starting
certain projects without the normal requirement of advance sales of units. As a
rule, about 40 percent of the homes should be sold in advance of the actual
construction process commencing,” says Kaj Stenman, Sales Manager for Sweden,
Skanska Residential Development Nordic.

“This is a very attractive location. The apartments in the adjacent Snöflingan
project, which was completed last year, were sold out in two days.We believe
that demand will remain strong, primarily in prime locations in the large urban
regions, and to meet this interest, we are now increasing project start-ups.” 

Construction of the Iskristallen in the Kungsholmen district will be conducted
by Skanska Sweden and is expected to commence in April this year.

Skanska Residential Development Nordic initiates and develops residential areas
for apartment blocks and single family homes. At the beginning of 2010, the
business unit had approximately 1,800 new homes in production and has about 350
employees in Skanska Residential Development in Sweden, Skanska Kodit in Finland
and Skanska Bolig in Norway.

For further information please contact:

Peter Gimbe, Press Officer, Skanska AB, tel +46 10-448 88 38
Direct line for media: tel +46 10-448 88 99

This and previous releases can also be found at www.skanska.com

Skanska AB may be required to disclose the information provided herein pursuant
to the Securities Markets Act.

Skanska is one of the world's leading project development and construction
groups with expertise in construction, development of commercial and residential
projects and public-private partnerships. Based on its global green experience,
Skanska aims to be the clients' first choice for green solutions. The Group
currently has 53,000 employees in selected home markets in Europe, in the US and
Latin America. Headquartered in Stockholm, Sweden and listed on the Stockholm
Stock Exchange, Skanska's sales in 2009 totaled SEK 137 billion.