Skanska signs trio of data center deals

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The largest of the deals is a $263 million (SEK 2.6 billion) contract with a repeat client for the construction of a new data center.

The project includes the building shell and full interior fit-out for technical spaces, support areas, and office functions.

Construction is scheduled to begin in the first quarter of 2026, with completion expected in the third quarter of 2027.

The company has also secured two additional contracts with an existing client for data center projects in Virginia, valued at $105 million (SEK 1 billion) and $58 million (SEK 570 million) respectively.

Both contracts involve the interior build-out of remaining data halls (three halls in the first contract and two in the second), each measuring 4,300 square meters, bringing both facilities to a full 22,800-square-meter capacity.

The company said work on the two Virginia projects is already underway, with both scheduled for completion in the first quarter of 2027.

In its financial results in 2024, Skanska’s full-year revenue climbed 13% to $17.3 billion, driven by continued strength in US infrastructure projects and the booming data centre sector.

“It’s a very attractive segment, the data centres,” said Skanska’s president and CEO, Anders Danielsson. “We are well positioned when it comes to that segment in the market, especially in the US, where we see the strongest activity. There are multiple clients, repeat clients, that want to build out. We see a strong pipeline.”