Skanska to Renovate Kista Galleria For SEK 900Million.
Business Editors
STOCKHOLM, Sweden--(BUSINESS WIRE)--June 29, 2000
Skanska has signed a contract with Kista Galleria KB to develop, expand and renovate the shopping center in Kista, north of Stockholm. The assignment is valued at about SEK 900 million for Skanska. The project
Kista Galleria KB is owned by Lansforsakringar's life insurance company and a property fund administered by the Swedish affiliate of the German real estate company Bavaria, with each holding a 50% interest. Jerry Larsson has been appointed president of Kista Galleria KB.
Kista Galleria is being renovated and will become a modern and bright shopping mall for quality shopping, rich in enjoyable experience and with a distinct leading-edge profile within IT. The new mall will house 140 shops, a number of restaurants, an advanced multimedia movie facility operated by SF, with seating for 2,100 in 15 theaters, 375 student apartments and parking for about 2,000 cars.
After the reconstruction, 12 million people are expected to visit Kista Galleria annually and sales for the shopping center annually are estimated at SEK 1.5 billion.
Construction begins in July and the entire renewal of Kista Galleria is scheduled to be completed in spring 2003. Kista Galleria will be open for business as usual during the entire construction period.
"Due to the good cooperation between the Kista district board and Skanska we can now start with the major renovation of Kista Galleria. This is very satisfactory," says Jerry Larsson, President of Kista Galleria KB.
"By being involved at an early stage of the project, we can control the product, time and economy in collaboration with the customer in an optimal manner," says Allan Leveau, Business Manager at Skanska Building division.
This and previous releases can also be found at www.skanska.com
Please visit http://www.bit.se for further information.
The following files are available for download: http://www.bit.se/bitonline/2000/06/29/20000629BIT00400/bit0001.doc http://www.bit.se/bitonline/2000/06/29/20000629BIT00400/bit0002.pdf
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