Swedish construction company NCC will be involved along with property management company Kustbostäder to build a new property in the center of Oxelösund, Sweden.
The turnkey contract is in partnership form and is valued at approximately USD 17.4 million (Skr 165 million).
The scope of the contract includes the demolition of the existing building and the construction of a new building with commercial and service areas as well as rental apartments.
The building at Järntorget in central Oxelösund will have 48 rental apartments on three floors above and retail space on the ground floor.
The 6,000 m² site will also include a playground and green spaces for residents.
Sagvan Abdulsatar, Production Manager at NCC Building Sweden, said: “Starting our collaboration early in the process has enabled NCC and Kustbostäder to explore many alternatives when it comes to developing the very best solution for the project and the development of Oxelösund Municipality .”
The company explained that the new homes will be built as part of NCC Lamell, a concept that offers well-designed homes with low energy consumption, high quality and good real estate economy.
The demolition of the existing building has already begun, earthwork is scheduled to begin in May and occupancy is expected in autumn 2024.
Kustbostäder Property Manager Linda Bernehjält said: “Together with NCC we are realizing the new Prisman House, which will significantly improve Järntorget.
“The modern retail premises will create opportunities for our traders and new housing close to the city center responds to the need for more housing and gives Oxelösund the opportunity to grow as a community.”
NCC was recently awarded a contract to build a new campus for Dalarna University in Borlänge, Sweden.