Entra, Skanska to Form JV for Norwegian Building Redevelopment

03:57 AM EST, 12/22/2025 (MT Newswires) -- Entra (ENTRA.OL) is forming an equally owned joint venture with Swedish construction company Skanska (SKA-B.ST) to redevelop Christian Krohgs gate 2 property located in the Oslo city center in Norway. Under the deal, the Norwegian real estate company will sell a 50% stake in the company that owns the property to Skanska, according to a Monday release. The transaction is based on a gross property value of 550 million Norwegian kroner. The Swedish company will act as turnkey contractor for the 21,200-square-meter project, which is expected to be completed by the end of fiscal 2030. Further, Skanska pre-leased 35% of the property for 10 years from the project completion, while Skanska agreed to extend its lease with Entra for its current office premises by two years, until relocation to the Christian Krohgs gate 2 property. Subject to regulatory approvals, the deal is expected to close in the first quarter of 2026, with the project scheduled to start in the second quarter of 2026.