The agreement with Scandic encompasses 17,800 sqm Scandic will in the spring of 2017, open a completely new type of hotel in Stockholm - a city resort. The hotel is described as “a playful and beautiful oasis in the middle of the vibrant concrete jungle of the city”.

The city resort will have about 420 hotel rooms and 2,300 sqm of restaurant and conference facilities. The hotel, which has been operated under the Scandic brand since 2007 through a franchise agreement between Hilton and Scandic, will undergo a complete renovation starting in 2016.

In addition, Stena will create 4,000 sqm worth of retail space.

”The Brunkebergstorg area has been under development for some time and it is very significant for the development of downtown Stockholm. For this reason, we are very happy that we now have the opportunity together with Scandic to develop Sergel Plaza into one of Stockholm's most attractive meeting places with a hotel, restaurant and shops all in the same building” says Nils Pers, CEO of Stena Fastigheter Stockholm AB.