Strabag to develop over 15,000 m[sup]2[/sup] in Stockholm

Construction group Strabag's Swedish development subsidiary is to develop over 12,000 m² of residential space and more than 2,000 m² of retail space in Tyresö, a southern suburb of Stockholm.

The plan for Tyresö View, as the project is called, envisages one high-rise building and an adjoining lower building with 150 apartments offering a total space of 12,863 m². In addition, about 2,335 m² of retail space as well as a parking lot with 100 parking spaces will be built. The project will require an investment of around SEK 600 million (EUR 67 mln) and offer a total amount of space for sale of 15,198 m².

Jens Lackmann, managing director of Strabag Projektutveckling, sees an urgent need for new residential space in Tyresö: 'Most houses in the area were built in the 60s and 70s and no longer conform to the latest living standards. There is a lack of modern, comfortably located residential space. This is evidenced in part by the fact that we have already received many enquiries from interested parties.'

Construction is set to begin in the autumn of 2011. The project will be developed in phases, with the retail space expected to be completed by March 2013 and the first residential building by August 2013.