Peab builds apartments in Helsinki

Peab's Finnish subsidiary Peab OY has been commissioned to build a new neighborhood in the timber, containing 113 rental apartments in Helsinki. The client is Etera Mutual Insurance Company and the contract amounts to 17 million Euros.
Peab OY will also build 32 apartments in downtown Helsinki. The buyer is AS OY Hietalahden Helmi and the contract price is 12 million Euros.
Both projects have construction start in early 2011 and is expected to be ready for occupancy in June 2012.

For further information, please contact:

Jari Uusitalo, project manager Peab OY +358 207 606 252

Jorma Kilpeläinen, project manager Peab OY +358 207 606 266

Gösta Sjöström, CIO Peab +46 733 371010

Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.

The information was submitted for publication at 10.00 am on 14 January 2011.

Previous press releases from Peab are available at www.peab.com

Peab is one of the leading construction and civil engineering companies in the Nordic countries with a net sale exceeding SEK 35 billion and approximately 13,000 employees. 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.