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Persson remains bullish on the U.S. infrastructure market, largely thanks to the $1.2 trillion Infrastructure Investment and Jobs Act.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n “It’s a very strong civil market in the U.S. at the moment, and we have a pretty good event horizon into the future in that market because we can see the bid pipeline, and we expect the market to continue to be this strong at least 12 months out ahead,\u201d Persson said.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Civil U.S. projects won last quarter include the <\/span><\/span><\/span><\/span><\/span><\/span>$1.24 billion design-build contract<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a> to improve roadways around JFK Airport in Queens, New York. Skanska won the contract as part of a joint venture with New York-based Halmar International.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n But Persson added he\u2019s also happy with how the overall construction arm has performed in the U.S. and beyond for the last two years, outside of just infrastructure.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n “We have the biggest order backlog we’ve ever had in the history of Skanska,\u201d Persson said. \u201cAnd so the future looks very bright in that sense.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Skanska reported a 15 million SEK loss in operating income from commercial property development in Q2, a massive drop from the 834 million SEK it reported from the same period the previous year.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Office workers\u2019 presence in the U.S., especially the West Coast, has remained limited since the COVID-19 pandemic, Persson said. But the lack of workers in-office is a uniquely American issue, as the pendulum has swung back in Europe.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n \u201cIn Central Europe, in the U.K. and in the Nordics, the pendulum has shifted back,\u201d he said. \u201cSo people are maybe not a hundred percent back, but close to it, in many cases.\u201d\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Nevertheless, there has been a strategy shift in the office environment \u2014 as with anything else real estate, location, location, location is key to leasing success, Persson said. But Skanska also pursues construction design to fit end use; aiming for greener buildings that cost less to operate.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n But even in the face of a weaker property development market, Persson voiced confidence.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n \u201cI just want to emphasize the strength we have here on our balance sheet, which is key to sort of seeing this through to up until the market improves a bit,\u201d Persson said. \u201cWe have plenty of staying power in our balance sheet.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\nLeasing business<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n