Peab to Build Youth Housing and Sports Center in The Western Harbour, Malmö

Regulatory News:

Peab (STO:PEABB)

Peab has been contracted to build 130 youth residences and a sports hall with attached outdoor environment, including a multi-sport arena in the Western Harbour in Malmö. The client is Malmö City by Stadsfastigheter and the contract amounts to approximately SEK 112 million.

The contract covers 4,400 sqm of residential and 1,700 sqm sports hall with surrounding areas.

- It is gratifying to be able to help with youth housing in Malmö, which is highly demanded. We also look forward to realizing our competition entry in collaboration with Stadsfastigheter and MKB, says Håkan Olsson, Regional Manager Peab.

The project is a turnkey contract. Work is expected to begin in May 2015 and will be completed in phases until December 2016.

The project will be reported in the first quarter 2015.

Peab is the Nordic Community Builder with some 13,000 employees and net sales exceeding SEK 43 billion. The Group’s subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.

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