Nordic builder Peab has secured contracts for two construction projects in Sweden and Finland, respectively.

These projects include the construction of three rental apartment buildings in Tampere, Finland, and the Norra Hallsås School project in Lerum, Sweden.

Tampereen Vuokra-asunnot Oy (TVA) has commissioned Peab for the Tampere apartment project, with the contract carrying a value of €24m ($26.02m).

The project will encompass three apartment buildings, ranging from four to six floors, with a combined total of 215 apartments.

Construction on this project is scheduled to commence in January 2024, with its completion anticipated in December 2025.

Peab will register the order in the fourth quarter (Q4) of this year.

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By GlobalData

TVA MD Marko Salonen said: “We’re pleased with the progress in the Hipposkylä project and development in the area. The project is the largest in TVA’s history.

“Collaboration with Peab has begun well and we believe we will be able to deliver high-quality apartments to meet the growing demand in Tampere.”

Meanwhile, Lerum Municipality in Sweden has awarded the Norra Hallsås School project to Peab.

This turnkey contract is worth Skr390m.

Peab will be responsible for constructing a new school for 800 students from preschool to ninth grade, alongside premises for 50 students with special needs.

The company will build a standard-sized sports hall, a new main road with a turnaround, a bus stop, and paths for both cyclists and pedestrians.

Beyond the school’s perimeters, the contractor will build roads with safe crosswalks and clearly marked road lines.

The school’s design is expected to prioritise the preservation of nature and to maintain existing topography and vegetation.

As part of this, Peab will construct an amphibian pond and a tunnel for amphibians adjacent to the school grounds to safeguard biodiversity.

Downpour solutions will also be implemented to connect the school area with the nearby Säve River.

These measures are anticipated to help the area manage substantial water volumes during heavy downpours.

Construction on this project is expected to begin immediately, with work scheduled to be finished in mid-2027.

Peab will enter this project in its order bookings for Q4 2023.