Swedish construction and development firm Skanska has secured a contract worth $299m (SEK2.9bn) to construct a new mixed-use commercial development in Victoria, London, UK.

Welput, the specialist central London office fund that is managed by BentallGreenOak (BGO), has awarded the contract.

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The new 43,700m2 building will provide commercial office space over sixteen floors. It will also include retail units at ground level.

Skanska’s scope of work under the contract involves construction of the new building along with the mechanical and electrical engineering services for the development.

The development will focus on carbon reduction by paying more attention from material selection, site operating efficiencies to using modern methods of construction.

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The company stated that the new mixed-use development will be designed to meet Energy Performance Certification, EPC, A and WELL ‘Platinum’ certification and exceed The Royal Institute of British Architects (RIBA) 2030 sustainability targets.

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It will also target several other certifications like BREEAM ‘Outstanding’.

Construction work on the project is scheduled to begin in the third quarter of this year and anticipated to be completed in the second quarter of 2026.

Recently, Skanska announced approximately SEK470m investment in a sustainable residential project, Kaprifolen, in Sweden.

Located in Solna, near Stockholm, the project will have 127 Nordic Eco-labelled apartments.

It aims to reduce the climate footprint from the time the shovel is placed in the ground until long after moving in.

Construction work on the project is planned to commence in this spring, with completion expected by the end of 2024 and the occupancy will gradually begin in 2024.

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The new building will provide commercial office space over sixteen floors. Credit: Christin Hume on Unsplash.