Peab has secured a contract to construct three apartment buildings with a total of 46 apartments at Osebakken in Porsgrunn, Norway.
It secured the contract from Majorbygg.
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The contract is valued at $22.33m (NOK188m).
Majorbygg has been developing the old industrial area into the residential area Osebakken Park.
The firm is owned jointly by Peab Eiendomsutvikling and PBBL.
Peab region manager Terje Kaasa Larsen said: “This is a substantial and significant project for us. The buildings, construction materials and construction process will all meet stringent requirements for energy consumption, chemicals and quality. In addition, all the carpentry and the concrete work will be done by our own skilled craftsmen and trainees.”
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By GlobalDataThis is a turnkey contract, which will be registered in Q4 2021 by Peab.
The project is expected to be completed in Q4 2023.
In September, Peab secured a $13.69m (NOK119m) contract to construct Herkules Park in Skien, Norway.
Klosterfoss Utvikling, owned by Citycon and Peab Eiendomsutvikling, awarded the contract.
This company, which built 160 homes in the area during the past decade, is responsible for the development of Herkules Park at Hjellevannet.
Citycon commercial director Håkon Tuv Dalland said: “Our experience is that the housing projects in this area have been well received and make people happy.
“We want to contribute to the community by building homes connected to centers with meeting places, healthcare and shopping opportunities.”
The scope of work under the contract involves construction of 40 new apartments across two six-storey buildings.
The project will also include construction of a garage with 42 parking spaces.
Work on the project is scheduled to begin this month with the new one to four-bedroom apartments planned to be ready before the summer of 2023.
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Image: The three apartment buildings will feature a total of 46 apartments. Credit: PV arkitekter/Peab
