Skanska invests $86 million in 300-unit Copenhagen community

Swedish property developer Skanska has announced investment in a new residential project in Ørestad City, an urban area that makes up part of the Copenhagen Metro.

Skanska has collaborated with Sjælsøn Management to invest DKK 560 million (approximately $86 million) into the construction of Ø Huset, as designed by Vilhelm Lauritzen Architects. The multifamily community development will feature 300 units totalling 300,000 square foot, and a 4,000 square foot retail space.

The development will include four independent buildings, ranging in height from six to 12 storeys and comprising of two, three, four, and five bed apartments. Each individual unit will have a private balcony and the space between the four structures will serve as a communal green area.

Construction on the build, which will be located nearby to the Bella Center metro station, is set to begin this month, with completion slated for June 2018.

Peter Nymann-Jørgensen, Managing Director of Skanska, told Multi Housing News: “Copenhagen is growing and we see great need for rental housing in varying sizes… many young families want quality accommodation combined with the flexibility of renting.”

The scheme will be Skanska’s latest addition to its growing rental portfolio; the company has previously primarily developed office spaces, but is currently constructing 900 rental apartments throughout Europe’s Nordic states.

Follow @ConstructionGL and @BizClikTilly