Construction firm Skanska is investing Skr680m in the new Tyfonen project in Malmö, Sweden.
The 22,000m² building will have 14 floors including public spaces, offices and hotels.Tyfonen has a waterside location, with Malmö Central Station and the City Tunnel nearby.
The first tenant in the building is Story Hotel, which signed a 15-year lease for 4,200m² of space.
Story Hotel CEO and partner Sören Hultberg said Tyfonen was a clear choice for the company’s establishment in Malmö.
"Story Hotel will offer 98 rooms, restaurant, café, bar, lobby and a skybar with the best view in the city," Hultberg said.
Skanska said the construction contract amounts to Skr480m ($732m) and will be included in the order bookings for Skanska Sweden in the fourth quarter 2013.
The construction firm said the building permit is being considered by the board for city planning in Malmö.
Skanska Öresund project director Anna Björklund said: "The building will be ‘alive’ 24-hours a day and offer a new meeting place to the people in Malmö."
Construction is expected to start in spring 2014 and be completed in 2016.
Skanska Commercial Development Nordic develops property projects in offices, business premises and commercial buildings.
The company’s operations are focused on the three metropolitan regions of Sweden; Copenhagen, Denmark; Oslo, Norway and Helsinki, Finland.
Image: Construction on the building is expected to begin in spring 2014. Photo: courtesy of Skanska.