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| Skanska says sells land in Warsaw Swedish construction firm Skanska said on Thursday it has sold land with building rights in Warsaw. The sales price amounts to SEK 117 M. The capital gain of SEK 94 M will be reported in the third quarter. The buyer is the Canadian investment fund, Capital Park. The land with building rights is located in Wilanow on the outskirts of Warsaw, and comprises 38,000 square meters. "We are selling these building rights because the Wilanow area is turning into a residential area with elements of retail. That is outside our focus, which is developing commercial premises with a high environmental profile. In recent years, the price of building rights in Poland has developed strongly and we will receive excellent returns from the sale of the land, which we acquired in 2004, " says Lars Vardheim, President of Skanska Commercial Development Europe. In Poland Skanska Commercial Development Europe is currently developing five commercial projects in Warsaw and Wroclaw, totaling 74, 000 square meters of leasable area. write your comments about the article :: © 2008 Construction News :: home page |