Dive Brief:
- Skanska USA, the U.S. arm of the Sweden-based builder, is doubling down on its faith in U.S. work with the establishment of a new mid-Atlantic division, the contractor said in a Nov. 22 news release shared with Construction Dive.
- The new region will encompass four markets: Washington, D.C., Maryland, Virginia and North Carolina, according to the news release. The goal is to harness the markets’ collective talent and build on the strengths of its existing offices in the area, Skanska said.
- Skanska tapped a local leader to helm the new region. Mark Balling, current executive vice president and general manager for Skanska USA’s building operations in North Carolina and Virginia, will start the new role on Jan. 1, according to the release.
Dive Insight:
Balling said that the region’s teams have worked together on prior projects and the teams’ skills would position them for success.
“The combined experience and expertise in this new region will help Skanska better serve previously distinct geographies, address opportunities in the available space of this larger region and grow an already strong presence in the region,” Balling said in the release.
Mark Balling
Courtesy of Skanska USA
The move comes after Skanska reported a 130% increase in profits year over year to 1.3 billion crowns ($120.1 million) in its third quarter earnings call. Skanska CEO Anders Danielsson said during the call that he expected the U.S. market to remain strong for at least 12 months.
Skanska hopes to build a more robust portfolioin a larger area encompassing the four geographies, according to the release. The builder already has a foothold in the region — in 2021, for example, it opened an office in Vienna, Virginia, to capitalize on ongoing civil projects in the surrounding area.
In the mid-Atlantic region, the contractor is currently building:
- George Mason University’s Life Sciences and Engineering Building at its Prince William County Campus in Virginia.
- 17xM, an 11-story, 334,000-square-foot trophy office building in D.C.’s central business district.
- OZMA, a 12-story, mixed-use, residential development with 275 luxury apartments in the NoMa neighborhood of D.C.