PST said in a stock exchange release on Wednesday that PST Nordic, its subsidiary, had signed a construction contract with Sweden's Ake Sundvall Byggnads.
Under the contract, the company is to design and construct, between January and July 2016, the reinforced concrete frame for a 33-apartment building with a total area of almost 5,000 sq. meters.
PST entered Sweden's market in late 2011 when it signed a contract with HSB Bostad for the construction of a 123-apartment building in a suburb of Stockholm.
The company last April closed down its representative office in Cherepovets, a city in the Vologda region, in northwestern Russia, where it had developed real estate projects. It said then that it would focus on expansion in Lithuania and Sweden.
Also, PST last May closed its branch in Kaliningrad after dropping plans to build a large shopping center in Russia's Baltic Sea exclave.
