Peab will be responsible for installing technical updates at the property. Credit: Peab/Cision.

Nordic community builder Peab has received a turnkey contract to renovate a hotel in Vantaa, Finland.

Kiinteistö OY Haukipurontie has commissioned Peab for this contract, which is valued at €13m ($14.23m).

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Construction is set to commence next month, with the completion of the project anticipated in February 2025.

Peab Finland region manager Ilkka Laakeristo said: “We really look forward to working on this project.

“We have extensive expertise in hotel renovation and an excellent model for carrying out this renovation project.”

Peab will be responsible for refurbishing the premises and upgrading technical installations.

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Built in 1991 and expanded in 2003, the original Sokos Hotel Vantaa Hotel is situated on the outskirts of Helsinki, in the centre of Tikkurila.

The building comprises seven floors with a total of 271 rooms.

The main lobby of the hotel will undergo modernisation by creating more open space.

Additionally, the load-bearing structure of the hotel’s basement garage will undergo renovation.

The company will register the order in the fourth quarter of this year.

This deal comes after Peab received a contract to construct a cold storage facility in Hyllinge, Sweden, last week.