"Skanska's office project Népliget Center Phase II, is now above ground after finishing the garage levels, the company has announced on Monday. The construction of the second phase started in July 2008 and consists of two buildings with a total leasable area of 16,600 square metres of office space. The building will be completed in the first quarter of 2010.The Swedish developer sold Népliget Center office building to an unspecified real estate investment fund for EUR 72.2 million at the end of 2007. Skanska did not disclose the transaction yield.
Skanska will continue to manage the project and has the lease commission for the following two years.
The first phase of Népliget Center with 9,200 sqm office space was completed in January 2008.
The three buildings will have a shared underground garage with 450 parking spaces and a shared courtyard and is situated on the road towards the airport, at the intersection of Könyves Kálmán körút and Üllői út in the Hungarian capital city.
Skanska Commercial Development Europe initiates and develops office and logistic property projects. Operations are focused on the metropolitan areas in Hungary, the Czech Republic and Poland.
Skanska Commercial Development Europe is divided into three regional companies: Skanska Property Hungary, Skanska Czech Republic and Skanska Property Poland."
Source: Portfolio Online Financial Journal
06.01.2009