Peab builds apartments in Oslo

Peab's Norwegian subsidiary Peab AS has been commissioned to build 138 apartments on Lørenskog outside Oslo. The client is Selvaag Bolig and the contract amounts to NOK 257 million.

The project is divided into six residential blocks that will be six or seven stories high, and everyone will have parking spaces in the basement.

Work will begin in the first quarter of 2013 and is expected to be ready for occupation in autumn 2014.

"Selvaag works with standardized and well-designed solutions, which leads to an efficient construction and good quality end product, "says Petter Moe, CEO of Peab AS.

For further information, please contact:

Line Fredriksen, Communikation Peab AS +47 91362254

Gösta Sjöström, Communication Peab AB +46 733 371010

Peab is the Nordic Community Builder with some 15,000 employees and more than SEK 40 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.