Skanska To Offer Preconstruction Services For SPARC Project In New York In $59 Mln Contract

(RTTNews) - Skanska AB (SKSBF.PK), a construction and development company, Thursday said it has signed an initial contract worth $59 million or about 650 million Swedish kronor to provide preconstruction services for SPARC project in New York.

The deal has been signed with the New York City Economic Development Corp. or NYCEDC for preconstruction and deconstruction services associated with phase one of the Science Park and Research Campus Kips Bay project or SPARC Kips Bay, in New York.

Under the contract, Skanska will initiate preconstruction services and carry out the deconstruction of existing buildings on the current CUNY Hunter College Brookdale campus.

The project's preconstruction work started in the fourth quarter 2024, while its groundbreaking is anticipated by the end of 2025. Deconstruction work is anticipated to be completed in the first quarter of 2027.

Skanska noted that the first phase of SPARC Kips Bay will include building over 55,700 square meter of educational facilities for the City University of New York and New York City Public Schools, among others.

The company will include the contract in US order bookings for the first quarter of 2025.