Skanska Invests in 300-Unit Multifamily Community in Denmark

Skanska's residential project planned for Ørestad City includes two- to five-bedroom apartments and a 4,000-square-foot retail store.
Ø Huset in Ørestad City

Ø Huset in Ørestad City

Copenhagen, DenmarkSkanska, a Swedish property developer, announced a new residential project in Ørestad City, an urban area that is part of the Copenhagen Metro. The company teamed up with Sjælsø Management to invest DKK 560 million (roughly $86 million) in the development of Ø Huset, a 300-unit multifamily community totaling almost 300,000 square feet. The project also includes a 4,000 square-foot store.

The four independent buildings, with heights ranging from six- to 12-stories, will comprise of two-, three-, four- and five-bedroom apartments with sizes varying from 613 to 1,420 square feet. Each unit will have its own private balcony, while the space between the four structures will be set up as a green area. The residential community will be located close to the Bella Center metro station and the town park, which makes it a great option for families with children.

“Copenhagen is growing and we see great need for rental housing in varying sizes. Especially many young families want quality accommodation combined with the flexibility of renting,” said Peter Nymann-Jørgensen, managing director of Skanska.

Construction is scheduled to start this month, while completion is slated for June 2018. The Ø Huset residential community in Ørestad City, which was designed by Vilhelm Lauritzen Architects, offers plenty of green spaces and the advantages of life in a big city, as it’s only a few metro stops from Copenhagen.

In recent years, Skanska has primarily developed office spaces, but is currently building 900 rental apartments of which 600 are already sold. The company’s activity is mainly concentrated in Europe’s Nordic states: Finland, Norway, Sweden or Denmark.

Image courtesy of Sjælsø Management