Skanska’s commercial development business unit in Central and Eastern Europe has summarized its 2021 performance. The company has sold two buildings for EUR 362 M and started 7 new projects across CEE region.
Skanska’s commercial development business unit in the CEE region sold 2 office buildings for EUR 362 million to European investors and leased more than 55,000 sqm. The developer started 7 new projects in 2021 including developments in Warsaw, Prague, Bucharest, Poznań and Wrocław that will add over 152,000 sqm to its office portfolio in CEE. Currently, the developer has almost 240 000 sqm of office space in 10 buildings under construction in CEE.
“We concluded last year with a record-breaking transaction in the history of Skanska commercial development business unit. Sale of Generation Park Y building, which is our first skyscraper in the CEE region, was the largest registered in our part of Europe in 2021. This transaction is very much aligned with the trend where core and core-plus projects in good locations, meeting high ESG standards, are what investors and tenants are and will be looking for in long-term. At Skanska we call such projects future-proof workplaces. We are very happy that last year we started 7 project developments across CEE as they will answer the current and future needs and expectations of our clients”, says Katarzyna Zawodna-Bijoch, CEO and President at Skanska’s commercial development business unit in CEE.
ESG as part of business strategy
Sustainability has never been higher on the business agenda than now and it has an increasing impact on companies operating in the real estate sector. This is influenced both by the growing awareness in terms of sustainable development and environmental impact and also by the need to comply with ESG reporting requirements. However, it’s not a new topic for Skanska as the company always puts special focus on this matter, as demonstrated by continued ESG reporting since 1997, the sustainable impact being part of Skanska’s Group strategy and attention to ESG aspects at every stage of office projects development. 2021 was no exception.
“We are aware that the construction sector accounts for 40% of global greenhouse gas emissions. For years we have been trying to undertake measurable actions for sustainable development. We create offices that support the well-being of users and allow operating in an environmentally responsible way, in line with the high standards set by globally recognized certificates won by our projects. We continue implementing climate-smart solutions such as low-emission concrete, that contribute to the delivery of our own sustainability targets and help our tenants and investors meet theirs”, adds Katarzyna Zawodna-Bijoch.
In 2021 Skanska’s Group received a prestigious accreditation in line with the global standards provided by the Science-Based Targets Initiative, confirming that the company’s target is consistent with the global climate goal to limit global warming to 1.5°C by 2050. Skanska was the only company amongst the 10 largest companies in the construction and engineering sector to have achieved this. Skanska’s goal is to achieve net-zero carbon emissions from its own operations and the value chain not later than 2045. This includes the recently updated interim target to reduce own emissions by 70 percent between 2015 and 2030. For emissions in the value chain, the target is a 50 percent reduction in emissions by 2030, compared with 2020, with a focus on Skanska’s own developed projects.
Flexibility – new key to the office space
Due to the ongoing pandemic, in the first half of 2021 many companies were still postponing important decisions regarding relocations or new offices. Yet, the second half of the year brought activity to the market and further interest not only in offices but also in flex solutions, such as workstations offered by Business Link, a flex operator within Skanska Group. Last year, Skanska together with Business Link prepared “Workplace Flexibility Vademecumv” in order to provide comprehensive information and share the best flexible workplace practices.
“Tenants are increasingly interested in combining the use of core and flex office spaces. Our ambition is to shape smarter spaces for our customers’ talented employees. Spaces to live, work and connect. We believe that creating a workplace is more than putting the physical elements like walls and equipment. It’s about working closely with our customers and using our knowledge and foresight to make sure the spaces we create for them support the various needs of organizations and individuals who use them”, summarizes Katarzyna Zawodna-Bijoch, CEO and President of Skanska’s commercial development business unit in CEE
Skanska commercial development business unit in Central and Eastern Europe (CEE)
Skanska commercial development business unit is a leading office developer in the CEE and operates in four countries: Poland, Hungary, Romania and the Czech Republic. It uses knowledge & foresight to shape the way people live, work, and connect. Together with our customers, partners and the collective expertise of our teammates, we create future-proof and sustainable places and solutions that support healthy living beyond our lifetime. Skanska's office projects are certified in the LEED, WELL Core & Shell, and WELL Health-Safety Rating systems. In 2021, Skanska commercial development business unit in CEE sold office buildings for over EUR 362 million and leased 55,137 sqm of office space.
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