Skanska to enter residential sector in UK and Poland

By Helen Wright09 December 2010

Skanska is targeting the residential construction market in its new 2015 business plan and aims to grow organically in the sector with the launch of new businesses in the UK and Poland.

Skanska described residential construction as one of the markets with the "best growth potential" and said it will invest the most in this sector under its new business plan.

"The next phase is investment in profitable growth... with continued strong focus on profitability and capital efficiency, but also on expanding construction operations and significantly increasing investments in project development," Skanska said.

As well as founding new operations in the UK and Poland, Skanska also expects to deepen its footprint in residential development in the Nordic region and strengthen its business in the Czech Republic and Slovakia.

"The goal is to sharply increase the number of residential development projects in Skanska's existing markets and to assume the position as the leading residential developer in the Nordic region," Skanska said in a statement.

The new business plan for 2011-2015 marks a fresh phase in Skanska's expansion model, which has seen the company grow through acquisitions for the last decade.

Skanska said it would strengthen financial synergies within its operations and increase its cash flow reinvestment rate to fuel expansion in all areas of project development.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
10 ways to join the hydrogen power revolution
Interest in the use of hydrogen has soared over the past few years as the construction industry races to reduce its carbon footprint. We roundup some recent initiatives
Telescopic boom lifts - the trends
Higher capacities and 100% electric models are the trend. And what lies ahead for 200ft models, or above?
How construction can become sustainable
The construction industry is undergoing a transformative shift to adapt more environmentally friendly practices
CONNECT WITH THE TEAM
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA