Peab builds rental units for Tornet

Peab has been contracted to build 358 new rental apartments in Stockholm / Mälardalen, the Öresund region and the Gothenburg area. The client is Tornet Housing and the contract amounts to SEK 410 million.

89 of the rental units will be built in Malmö, 74 in Helsingborg, 80 in Västerås, 71 in Gothenburg and 44 at Lidingö. Construction of the units has started and it is expected to take between 15-18 months to complete.

Many of these rental units will be built with Peab PGS building system, which means that the result will be a cost-effective construction process with attractive, energy efficient and environmentally friendly homes.
In addition to these projects, we are planning for the production of 500 or more rental units in metropolitan areas.

- Demand for rental units in good locations increases. It is therefore of great importance that we together with Tornet can provide the market with good alternatives to reasonable housing costs, says Peab CEO Jan Johansson.

Tornet Housing is owned to 62 per cent by Tornet AB and 19 per cent each by Folksam and Riksbyggen. Further information about the neighborhoods where the rental apartments will be built, are reported at the Tornet site www.tornet.se

For further information, please contact:

Gösta Sjöström, C I O Peab +46 733 371010

Göran Wendel, MD Tornet +46 8 50891251

Peab is the Nordic Community Builder with some 14,000 employees and about SEK 45 billion in net sales. 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.

About Us

Peab is a leading Nordic construction and civil engineering company with about 15,000 employees and SEK 50 billion in net sales. The Group has strategically placed offices in Sweden, Norway and Finland. Company headquarters are in Förslöv on Bjäre Peninsula in southern Sweden. The Peab share is listed on NASDAQ Stockholm.

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