Skanska Invests $35M in Budapest Office Campus

Construction on the third phase of Nordic Light, a 150,000-square-foot complex, has begun. The building is scheduled for completion by the second quarter of 2020. 
Nordic Light

Skanska has invested around $35 million (SEK 308M) in the third phase of Nordic Light, an office project in Budapest, Hungary. Construction has already begun and the building is scheduled for completion by the second quarter of 2020. 

This last building will complete Nordic Light Trio, which includes two additional assets that were delivered, leased and sold in 2016. The third structure will comprise around 150,000 square feet of office space across six floors, as well as three underground parking levels. 

The entire campus aims to achieve WELL certification, minimizing the property’s environmental footprint and reducing operating costs. 

Skanska has remained active within the Hungarian market. Last month, the company sold Mill Park in Budapest for $116 million. The two-building office project was purchased by the real estate fund of Erste Alapkezelő Zrt., a subsidiary of Erste Asset Management GmbH. The 387,500-square-foot property features outdoor coworking spaces, an amphitheater, restaurant and café, as well as a garden of nearly 60,000 square feet with a green area and recreational facilities.

Image courtesy of Skanska