Peab will demolish the existing 87 apartments as well as supplementary buildings on the property Riggen 1 in Visby. After demolition Peab will build 105 new rental apartments and there is an option for additional construction of 53 apartments.

"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," says Anders Bergeling, Region Manager Peab.

"We're happy to have succeeded in signing a contract with Peab and look forward to working together on the Riggen block," says Kristoffer Strehlenert, Head of Development and Sustainability at Gotlandshem.

The project is a turnkey contract. Construction will start at the end of 2024and the apartments are expected to be completed in the first quarter 2027.

The project will be order registered in the fourth quarter 2024.