Peab has been commissioned to build the Grand Quarter in Larvik in Vestfold, Norway. The customer is Grandkvartalet Eiendom AS and the contract is worth NOK 240 million.
The project comprises building three buildings with a total of 11,200 m2 and a parking garage. The buildings will contain apartments, a five-story hotel with 49 hotel rooms and commercial space.
“Peab is an entrepreneur with strong local roots in Vestfold and Telemark and we are highly motivated by the opportunity to contribute to building Larvik’s future. Local signature projects like the Grand Quarter bolster pride in the company. At the same time the project fits in well with our portfolio and generates net sales for the next two years,” says Terje Kaasa Larsen, construction manager Peab.
The project is a turnkey contract. Construction will begin in March 2020 and occupation is expected to be in March 2022.