Swedish developer closes UK housebuilding division
Published by Max Salsbury for 24dash.com in Housing and also in Development
Top DCLG director admits Government housebuilding targets are 'under threat'
Swedish multinational developer Skanska is to close its UK housebuilding division.
The constructor launched Homes by Skanska in 2011 with the intention of it becoming one of the UK's biggest housebuilders.
Skanska chief executive Mike Putnam said that though the firm was profitable, areas like infrastructure and the commercial sector offered a better return on capital investment.
Speaking to Building.co.uk, Mr Putnam said: “We started this with high ambitions but we soon lowered those ambitions and it’s a relatively small part of what we do today.
“We see big opportunities in infrastructure generally and in future commercial developments.”
READ NEXT »