Swedish construction company Skanska has announced an investment of $128m (SEK1.1bn) in a multi-family development project, called OZMA, in the US.

Located in Northeast Washington, DC, OZMA is 13-story structure, which will feature 275-unit luxury apartments.

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With 5,200m2 amenity space, as well as 2,400m2 of ground floor retail space and a below grade parking, Skanska aims to achieve LEED Gold, WiredScore Gold and Fitwel Certifications for this project.

Construction works at the site are set to begin this month and the project is expected to be completed by 2024.

Skanska said that the construction contract which is worth $96m (SEK800m), would be added to its US order bookings for the third quarter 2021.

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In an another development, Skanska has announced an investment of nearly $52m (SEK450m) in a new residential block in Stockholm, Sweden.

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Located in Bromma borough, the residential structure will feature a total of 107 Nordic Swan eco-labelled apartments.

In a statement Skanska said: “The project is certified according to the Nordic Swan ecolabel, which means high demands on quality, environmental, energy and health aspects.

“The homes have lower energy use than the building requirements as well as higher requirements for chemicals and ventilation. All in all, this means a better indoor environment and a lower climate impact. The buildings will also be equipped with solar cells on the roofs.”

Additionally, Skanska said that the water views and the distance to Bällstaviken have been given importance while designing the buildings, apartments, and courtyards.

The condominium project includes three buildings and is expected to be completed during the fourth quarter of 2023.

Skanska said that preparatory works have already been imitated at the site.

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OZMA will feature 275 luxury apartments. Credit: Skanska.