Peab Lands SEK763 Million Deal to Develop Jail in Sweden

02:30 AM EST, 12/23/2025 (MT Newswires) -- Peab (PEAB-B.ST) secured a 763 million-krona contract to convert an office building in Skövde, Sweden, into a new jail facility. Construction on the seven-story, 12,000-square-meter building is expected to start in January 2026, with completion scheduled for September 2028. The Swedish builder said Tuesday that it will include the order in its fourth-quarter order book. The turnkey partnering contract was awarded by Lorentzon Våmb, which will hand over the building to the Swedish Prison and Probation Service upon completion.