Swedish contractor opens UK residential development arm with first projects on site early next year

Skanska has opened a UK housing division as part of a global expansion strategy.

The Swedish contractor is launching a UK residential development arm focusing on London and the South-east. Its first projects are due to start on site next year.

Residential development was the area with “the best growth potential”, it said.

The contractor is also planning to launch a residential operation in Poland.

It said: “Skanska has long had a large and successful construction operation in the UK.

“The financial crisis and the dramatic decline in the housing market have now created excellent opportunities for entry as a residential developer.”