Swedish construction business Skanska has signed an agreement with OBOS for two joint venture projects in Oslo and Bærum, Norway.

This agreement is related to the development and construction of approximately 700 homes by both companies during the next years.

Skanska is investing Skr525m ($50.1m) to acquire 50% of OBOS’ Nansenløkka project and is divesting 50% away from its Økern Park project worth Skr207m towards OBOS.

The Nansenløkka project in Fornebu, Bærum, will feature 400 units. Its construction is expected to commence in the last quarter of 2023.

Comparatively, Økern Park in Oslo will feature 300 units and its construction is expected to start in the last quarter of 2025.

Last month, Skanska was chosen by the Norwegian Public Roads Administration (NPRA) for the E10/rv. 85 Tjeldsund-Gullesfjordbotn-Langvassbukt road project in northern Norway.

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Under this project, Skanska will be responsible for carrying out road design and construction, as well as related operations and maintenance for 15 years once the construction itself is complete.

This project has been classed by the NPRA as a public-private partnership.

During the same month, the Swedish construction company secured a contract to build a new research centre, Campus Ullevål, in Oslo.

The contract was signed by Skanska with Campus Ullevål along with the Norwegian Geotechnical Institute and property developer Aspelin Ramm.