US construction anchors Skanska’s results
AI Article Summary
Despite facing challenges in the commercial property market, the Swedish firm Skanska has leveraged the growth in data centers and infrastructure projects, especially in the United States, to bolster its financial outcomes for Q3. The significant investment in infrastructure in the U.S. has continued to be a stronghold for the company, even as they recorded some write-offs. Skanska's strategic focus on these areas underlines the potential for growth amid sector-specific downturns.
What This Means for Canadian Contractors
This project shows how focusing on infrastructure and data center construction can mitigate risks associated with a weakening commercial property market. For Canadian builders, this means there could be increased opportunities in infrastructure and technology-driven projects, which may influence funding and development timelines. It also suggests that diversification into these areas could buffer against downturns in other segments.
