Exactly what the tech giant plans to do with the space is a secret for now, with the municipality unable to share many details — but the local mayor has said that the deal could lead to hundreds of jobs.
Microsoft has paid 269 million kronor for the land, which is split between two sites with a combined size equal to 260 football pitches.
Patrik Stenvard, the mayor of Gävle, announced that the deal was completed on Tuesday, describing it as an “exciting” development.
“Our goal is to become one of the region's largest industrial establishments,” Stenvard said in a statement.
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Speaking to media, the mayor was unable to give any further information about the plans for the two sites in Gävle and nearby Sandviken.
The tech company itself has confirmed the deal, simply saying it purchased the land “for future use in order to strengthen its presence in Europe and the Nordic region”.
Microsoft currently employs around 600 people in Sweden, most of them working in the cities of Stockholm, Gothenburg and Linköping.