Skanska partners-up for green push

Skanska has muscled into the £10bn green retrofit market after forming partnerships with Arup and GE.

The Swedish giant will provide joint-delivered green retrofit and refurbishment packages with Arup.

Skanska’s strategic partnership with GE will see the firm invest in research in development in green technology for the retrofit market.

Mike Putnam, president and chief executive of Skanska UK, said: “The property market is changing. Tougher climate-change laws, new ways of working, and demands from investors and tenants are transforming the way we think about building performance and value.

“These changes are forcing the industry to evaluate property assets in ways that consider their long-term value and their role in achieving corporate goals.”

David Glover, Arup’s global property market leader, said: “It can be virtually impossible for portfolio holders to identify which retrofit and refurbishment initiatives have the most impact on an individual property’s market value.

“Short-term cosmetic upgrades may have an immediate effect, but in today’s market businesses need to make investments that bring value both today and tomorrow.”

Mark Elborne, president and chief executive of GE UK, said: “Both Skanska and GE are leading the way in their development of green solutions and technologies for the built environment.

“By combining forces we can offer a more attractive, practical and tangible proposition to future proof the UK’s existing building stock and deliver value to clients.”