To renovate major hotel in Stockholm

Veidekke's subsidiary Arcona has signed a contract with Stena Fastigheter Stockholm to renovate the property Skansen 18, which currently houses the Sergel Plaza Hotel, among other things. The contract will be undertaken as a collaborative turnkey contract, and is valued at SEK 360 million, excluding VAT.

The project is located at Brunkebergstorg in central Stockholm. Following renovation, there will be a new hotel with approx. 420 rooms and 2,300 m² of restaurant and conference premises, in addition to 4,000 m² of retail premises in Drottninggatan.

"This contract represents another important step in the ongoing urban development around Brunkebergstorg. Arcona has a way of working that sits well with how we want to interact to create an attractive hotel and significant retail opportunities in the centre of Stockholm City. Arcona will therefore be an important partner in developing the project," says Nils Pers, who manages Stena Fastigheter Stockholm.

"We have cooperated with Stena Fastigheter Stockholm for a long time in developing the property to achieve its maximum potential, and we are happy and proud that we have been selected to perform the contract. Our ambition is that we will cooperate in creating one of Stockholm's leading hotels and a vibrant retail and meeting ground in the middle of City," says business manager Peter Kvist of Arcona.

Cooperation has got off to a good start, and the project will be completed and brought into use in stages until everything is completed in the course of 2017.

For press photos, see www.flickr.com/photos/veidekke, for more information, contact:
Jimmy Bengtsson, director of Arcona, tel. +46 8 601 21 14, jimmy.bengtsson@arcona.se
Peter Kvist, business manager with Arcona, tel. +46 8 601 21 52, peter.kvist@arcona.se
Communications Manager Helge Dieset of Veidekke, tel. 90 55 33 22, helge.dieset@veidekke.no

Veidekke is one of Scandinavia's largest contractors and property developers. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is almost NOK 24 billion (2014), and half of the 6,400 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.