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Peab to Build Rental Apartments in Stockholm

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Feb 25 2010

Peab (STO:PEABB) has signed an agreement with the KPA Pension on transferring a land and obtain a contract to build 179 rental apartments in Fruängen in southern Stockholm. Project cost is estimated to 254 million. Work will begin immediately and is scheduled for completion in summer 2012th

The interest in rental properties has increased significantly over the past year and there is great demand. This project in Fruängen is part of the cooperation Peab and Folksam Group, which includes KPA Pension, launched in 2009, says Peab's MD Mats Paulsson a comment.
This is part of our commitment to invest in attractive properties. This means that we spread the risk and get a good long-term returns for our pension savers, says KPA Pension CEO Lars-Åke Vikberg.

Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 2.30 p.m. on 24 February 2010.

Source: http://www.peab.com/

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