Swedish construction company Peab has secured a €26m ($28.4m) contract from Senate Properties to build a forensic psychiatric hospital in Vaasa, Finland.

The project involves constructing a two-storey, 5,500m² building at Vaasa Hospital, which will replace an outdated hospital building.

The new psychiatric facility will comprise 48 care units and feature a multi-functional room, a kitchen and a staff dining room.

Senate Properties region manager Marko Jalkanen said: “Our investments in public premises amount to almost €500m annually.

“Our new construction projects are often specialised and demanding.

“The new construction at Vaasa Hospital will be aided by Senate Properties’ alliance model that we’ve developed for particularly large and demanding projects.”

Peab said it will prioritise security factors in the project, which will also aim to receive a four-star RTS environmental certification.

Construction is set to start in May next year and be completed by November 2025. The project is due to be order registered in the third quarter of this year.

Peab Finland regional manager Matti Joensuu said: “We’re proud of this project in Vanha Vaasa and the opportunity to build a more practical care centre.

“The project is a good fit for us since we’ve previously built similar hospital buildings.”

As described on Crunchbase, Vaasa Central Hospital operates as a hospital and healthcare company.

It offers a diverse range of specialist care services supported by various service units.

The hospital's capabilities include emergency services, medical examinations, surgeries, treatments and health promotion initiatives for the community, as well as childbirth-related services, rehabilitation and a variety of support functions.

In October 2021, the European Investment Bank (EIB) approved a €72.5m loan for an upgrade to Vaasa Hospital.

The loan was part of almost €677m made available by the EIB for projects in Finland.