Peab secures $194m contract to rebuild Sture area in Stockholm

WCN Editorial Team 5 Jul 2022 EUROPE BUILDINGS

Sturegallerian has appointed Peab for an approximately $194.10m (SEK2bn) contract to undertake renovation and reconstruction work of the southern part of Kvarteret Sperlingens Backe at Stureplan in central Stockholm, Sweden.

This collaborative contract covers approximately 48,000m2 of the Sture area.

Under the contract, Peab will be responsible for revamping and recreation of older buildings, opening of more public spaces, and creating a new link to Östermalmstorg metro station.

The complete project is expected to get LEED Platinum, which is considered the highest sustainability certification.

Peab manager business area construction Stefan Danielsson said: “This is a very unique project with an extensive sustainability approach, where Peab with its knowledge can add a lot. As the Nordic community builder, it is an honour to be involved in modernising such a central neighbourhood in the heart of Stockholm.”

Sturegallerian project director Andreas Philipson said: “We’re glad to have Peab onboard in this exciting project, and are looking forward to a close collaboration in developing Sturekvarteret during the coming years.”

Work on the contract will start immediately and is anticipated to be finished in 2026.

The project will be recorded by Peab in the third quarter of this year.

Meanwhile, Peab has also been appointed to undertake a wide revamp of rental apartments for Helsingin kaupungin asunnot Oy (HEKA) in Pihlajisto of Helsinki, Finland.

Carrying a contract value of €13m, this project is the second stage of a main revamp project and involves renovation of four apartment buildings with their inner courtyards. These buildings were constructed in 1972.

Peab will renovate a total of 166 apartments and common areas such as basements and saunas.

An earlier assisted living facility will be converted into new apartments and a laundry room.

The aim of the project is to boost security and enhance the buildings’ energy efficiency.

Peab region manager Marko Rinkinen said: “It’s great that we can now carry out our fourth renovation project for HEKA and continue our smooth collaboration in this second stage. The renovation will be a huge lift for the residents of Pihlajisto.”

Construction of this turnkey project will commence in August 2022.

The project is anticipated to be finished in April 2024.

This contract will be booked by Peab in the third quarter of this year.
Image: Work on the Sture area contract will start immediately and is anticipated to be finished in 2026. Credit: Peab/Cision.

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