Peab to build Stockholm Klara – office, hotel and conference for SEK 1.4 billion

Peab has been contracted to build one of the most unique real estate property projects in northern Europe – new Stockholm Klara Office Hotel and Conference at Klarabergsviadukten 63 in the central of Stockholm.

The client is the Real Eastate Company Norrmalm 43 i Stockholm AB and the contract amounts to totally SEK 1.4 billion.

The property is located in one of the most attractive areas in Stockholm, in connection with Riddarfjärden between World Trade Center and the Stockholm Town Hall, with views over the heights of Söder and The Old City.

The contract includes building about 34 000 square metres office, a new hotel with 418 rooms with a total a size of 20 500 square metres and a new congress department dimensioned for an audience of totally 3 000 people in cinema seating.

- We will build one of the most attractive establishments for large conferences and congresses in the central part of Stockholm. Peab has won this contract because we are convinced that they are able to carry through the advanced technical solutions, considering technique and environment, says Christer Olofsson, the building owner representative.

The project is estimated to be ready in the end of 2010.

Pictures and more information about this project are to be found at building owner’s website www.jarlam.se

For additional information, please contact:
• Lars-Erik Söderberg, division manager Peab + 46 733 372200
• Christer Olofsson, Norrmalm 43/JarlAsset Management +46 706 417200
• Gösta Sjöström, information manager Peab + 46 733 371010

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

This is the type of information that Peab AB is obligated to disclose in accordance with the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act.