Swedish real estate company Castellum has secured approval from the City of Stockholm for the construction on the new Infinity office project in Stockholm, Sweden.

The new 26,600m2 development involves a total investment of approximately SEK1.7bn ($205.5m), of which the land acquisitions are estimated to cost nearly SEK 650m ($78.6m).

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The office development will include 12 storeys above ground and 2 basements building with approximately 19,800m2 of office space.

Castellum has planned to commence construction on the new Hagastaden project in the spring of next year and is scheduled to be completed in 2025.

The project involves an extensive building construction and foundation work by the real estate company and the completion and infrastructure work executed by the City of Stockholm.

Upon completion of Stockholm’s completion work, the company will formally take over the project site, will pay the purchase price and begin construction on the new office buildings which is expected in the first half of 2023.

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The real estate company said that the Hagastaden is the new urban district which connects Stockholm with Solna and expands the inner city to the north.

According to the company, the site will be developed with a mix of housing, park areas and knowledge-intensive business with a focus on life science over the next ten years.

Once fully developed, Hagastaden is expected to create approximately 50,000 new jobs and 6,000 homes.

Castellum Region Stockholm-Norr CEO Martin Bjöörn said: “Infinity will have all the qualities that guide us when we build for the future.

“With a focus on health and well-being, solar cells on the roof and WELL certification, we contribute with our know-how about the sustainable workplaces of the future.”

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Rendering of the new Infinity office property in Stockholm, Sweden. (Credit: Castellum.)