The new apartments are expected to be ready by the first quarter of 2027. Credit: Ahlqvist & Almqvist AB/Peab/Cision.

Peab, a Nordic community builder, has secured a Skr225m ($21.70m) contract from Gotlandshem to undertake a construction project in Visby, Gotland, Sweden. 

In April 2024, Peab was commissioned to demolish and reconstruct the Riggen 1 block.  

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The board gave the green light for the project to move forward into the planning and execution stages.  

However, following the contract award, two competing bidders submitted requests for a review to the administrative court, leading to a delay in finalising the contract with Peab. 

By mid-September 2024, the administrative court had dismissed the objections raised by the appellants. 

Gotlandshem Development and Sustainability head Kristoffer Strehlenert said: “We’re happy to have succeeded in signing a contract with Peab and look forward to working together on the Riggen block.” 

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The redevelopment of the block is segmented into three phases. 

The latest contract involves the demolition of 87 old apartments and ancillary buildings on the Riggen 1 property, followed by the construction of 105 new rental apartments.  

There is also a provision for the potential addition of another 53 apartments. 

The construction work is slated to begin at the end of 2024, with the new apartments expected to be ready by the first quarter of 2027.  

This turnkey contract will be formally registered as an order in the fourth quarter of 2024.  

Peab region manager Anders Bergeling said: “It’s fantastic that we have been entrusted with implementing this project together with Gotlandshem. We look forward to contributing to the development of Gotland and Visby and creating beautiful new homes.” 

The latest announcement of the Visby project comes on the heels of Peab’s contract for a new mobility building in Sundsvall, valued at Skr109m. 

This new eight-storey mobility building in Sundsvall, commissioned by Urban Hub, is designed to accommodate parking and electric vehicle charging stations.