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<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_655958dd-a3f3-4d33-8f2e-2a89d32853a6_totalLabel_sv" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Kassaflöden från (som används i) verksamheter före förändringar i rörelsekapital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_IncreaseDecreaseProjectAndDevelopmentProperties_label_sv" xlink:label="lab_peab_IncreaseDecreaseProjectAndDevelopmentProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Ökning /Minskning av projekt- och exploateringsfastigheter</link:label>
    <link:label id="lab_peab_IncreaseDecreaseProjectAndDevelopmentProperties_documentation_sv" xlink:label="lab_peab_IncreaseDecreaseProjectAndDevelopmentProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Increase Decrease Project And Development Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_IncreaseDecreaseProjectAndDevelopmentProperties" xlink:href="peab-2025-12-31.xsd#peab_IncreaseDecreaseProjectAndDevelopmentProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_IncreaseDecreaseProjectAndDevelopmentProperties" xlink:to="lab_peab_IncreaseDecreaseProjectAndDevelopmentProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_RaisedLoans_label_sv" xlink:label="lab_peab_RaisedLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Upptagna lån</link:label>
    <link:label id="lab_peab_RaisedLoans_documentation_sv" xlink:label="lab_peab_RaisedLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Raised Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_RaisedLoans" xlink:href="peab-2025-12-31.xsd#peab_RaisedLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_RaisedLoans" xlink:to="lab_peab_RaisedLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_InterestBearingShortTermReceivables_label_sv" xlink:label="lab_peab_InterestBearingShortTermReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Räntebärande kortfristiga fordringar</link:label>
    <link:label id="lab_peab_InterestBearingShortTermReceivables_documentation_sv" xlink:label="lab_peab_InterestBearingShortTermReceivables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Interest-bearing short-term receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_InterestBearingShortTermReceivables" xlink:href="peab-2025-12-31.xsd#peab_InterestBearingShortTermReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_InterestBearingShortTermReceivables" xlink:to="lab_peab_InterestBearingShortTermReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_InventoriesExcludingPropertyIntendedForSaleInOrdinaryCourseOfBusiness_label_sv" xlink:label="lab_peab_InventoriesExcludingPropertyIntendedForSaleInOrdinaryCourseOfBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Varulager</link:label>
    <link:label id="lab_peab_InventoriesExcludingPropertyIntendedForSaleInOrdinaryCourseOfBusiness_documentation_sv" xlink:label="lab_peab_InventoriesExcludingPropertyIntendedForSaleInOrdinaryCourseOfBusiness" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Inventories Excluding Property Intended For Sale In Ordinary Course Of Business</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_InventoriesExcludingPropertyIntendedForSaleInOrdinaryCourseOfBusiness" xlink:href="peab-2025-12-31.xsd#peab_InventoriesExcludingPropertyIntendedForSaleInOrdinaryCourseOfBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_InventoriesExcludingPropertyIntendedForSaleInOrdinaryCourseOfBusiness" xlink:to="lab_peab_InventoriesExcludingPropertyIntendedForSaleInOrdinaryCourseOfBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners_019b02a9-0b3d-7980-97fb-537bbbddf2c2_totalLabel_sv" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Ökning (minskning) till följd av transaktioner med ägare, eget kapital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_InterestBearingCurrentLiabilties_label_sv" xlink:label="lab_peab_InterestBearingCurrentLiabilties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Räntebärande kortfristiga skulder</link:label>
    <link:label id="lab_peab_InterestBearingCurrentLiabilties_documentation_sv" xlink:label="lab_peab_InterestBearingCurrentLiabilties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Interest Bearing Current Liabilties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_InterestBearingCurrentLiabilties" xlink:href="peab-2025-12-31.xsd#peab_InterestBearingCurrentLiabilties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_InterestBearingCurrentLiabilties" xlink:to="lab_peab_InterestBearingCurrentLiabilties" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities_a0bb9390-f0c6-4dc7-a8bd-de86af314deb_totalLabel_sv" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Kassaflöden från (som används i) finansieringsverksamhet</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_ChangeInIssuedCommercialPapers_label_sv" xlink:label="lab_peab_ChangeInIssuedCommercialPapers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av emitterade företagscertifikat</link:label>
    <link:label id="lab_peab_ChangeInIssuedCommercialPapers_documentation_sv" xlink:label="lab_peab_ChangeInIssuedCommercialPapers" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Change in issued commercial papers</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_ChangeInIssuedCommercialPapers" xlink:href="peab-2025-12-31.xsd#peab_ChangeInIssuedCommercialPapers"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_ChangeInIssuedCommercialPapers" xlink:to="lab_peab_ChangeInIssuedCommercialPapers" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_AccrualsClassifiedAsCurrentAndCurrentDeferredIncomeOtherThanCurrentContractLiabilities_label_sv" xlink:label="lab_peab_AccrualsClassifiedAsCurrentAndCurrentDeferredIncomeOtherThanCurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Upplupna kostnader och förutbetalda intäkter</link:label>
    <link:label id="lab_peab_AccrualsClassifiedAsCurrentAndCurrentDeferredIncomeOtherThanCurrentContractLiabilities_documentation_sv" xlink:label="lab_peab_AccrualsClassifiedAsCurrentAndCurrentDeferredIncomeOtherThanCurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Accruals Classified As Current And Current Deferred Income Other Than Current Contract Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_AccrualsClassifiedAsCurrentAndCurrentDeferredIncomeOtherThanCurrentContractLiabilities" xlink:href="peab-2025-12-31.xsd#peab_AccrualsClassifiedAsCurrentAndCurrentDeferredIncomeOtherThanCurrentContractLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_AccrualsClassifiedAsCurrentAndCurrentDeferredIncomeOtherThanCurrentContractLiabilities" xlink:to="lab_peab_AccrualsClassifiedAsCurrentAndCurrentDeferredIncomeOtherThanCurrentContractLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities_04dabcc4-22aa-4b7a-b0f5-258e8fd60cfa_totalLabel_sv" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Kassaflöden från (som används i) investeringsverksamhet</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_IncreaseDecreaseInEquityCashFlowHedgeTransferredToCostOfInventory_label_sv" xlink:label="lab_peab_IncreaseDecreaseInEquityCashFlowHedgeTransferredToCostOfInventory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Increase (Decrease) In Equity, Cash Flow Hedge, Transferred To Cost Of Inventory</link:label>
    <link:label id="lab_peab_IncreaseDecreaseInEquityCashFlowHedgeTransferredToCostOfInventory_documentation_sv" xlink:label="lab_peab_IncreaseDecreaseInEquityCashFlowHedgeTransferredToCostOfInventory" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Increase (Decrease) In Equity, Cash Flow Hedge, Transferred To Cost Of Inventory</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_IncreaseDecreaseInEquityCashFlowHedgeTransferredToCostOfInventory" xlink:href="peab-2025-12-31.xsd#peab_IncreaseDecreaseInEquityCashFlowHedgeTransferredToCostOfInventory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_IncreaseDecreaseInEquityCashFlowHedgeTransferredToCostOfInventory" xlink:to="lab_peab_IncreaseDecreaseInEquityCashFlowHedgeTransferredToCostOfInventory" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_InterestBearingShortTermLiabilitiesProjectFinancing_label_sv" xlink:label="lab_peab_InterestBearingShortTermLiabilitiesProjectFinancing" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Räntebärande kortfristiga skulder, projektfinansiering</link:label>
    <link:label id="lab_peab_InterestBearingShortTermLiabilitiesProjectFinancing_documentation_sv" xlink:label="lab_peab_InterestBearingShortTermLiabilitiesProjectFinancing" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Interest Bearing Short Term Liabilities Project Financing</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_InterestBearingShortTermLiabilitiesProjectFinancing" xlink:href="peab-2025-12-31.xsd#peab_InterestBearingShortTermLiabilitiesProjectFinancing"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_InterestBearingShortTermLiabilitiesProjectFinancing" xlink:to="lab_peab_InterestBearingShortTermLiabilitiesProjectFinancing" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities_2e033b92-9e8e-45bd-ba5c-d5bbec7fe0e4_totalLabel_sv" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Kassaflöden från (som används i) den löpande verksamheten</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_TaxOnCashFlowHedging_label_sv" xlink:label="lab_peab_TaxOnCashFlowHedging" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt på kassaflödessäkring</link:label>
    <link:label id="lab_peab_TaxOnCashFlowHedging_documentation_sv" xlink:label="lab_peab_TaxOnCashFlowHedging" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Tax On Cash Flow Hedging</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_TaxOnCashFlowHedging" xlink:href="peab-2025-12-31.xsd#peab_TaxOnCashFlowHedging"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_TaxOnCashFlowHedging" xlink:to="lab_peab_TaxOnCashFlowHedging" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinanceIncomeCost_c51883e9-6b2d-41b3-be83-61db9474ead3_totalLabel_sv" xlink:label="lab_ifrs-full_FinanceIncomeCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Finansiella intäkter (kostnader)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinanceIncomeCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_FinanceIncomeCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinanceIncomeCost" xlink:to="lab_ifrs-full_FinanceIncomeCost" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_LoanAmortizationSwedishTenantOwnerAssociations_label_sv" xlink:label="lab_peab_LoanAmortizationSwedishTenantOwnerAssociations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Amortering av lån svenska bostadsrättsföreningar</link:label>
    <link:label id="lab_peab_LoanAmortizationSwedishTenantOwnerAssociations_documentation_sv" xlink:label="lab_peab_LoanAmortizationSwedishTenantOwnerAssociations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Loan Amortization Swedish Tenant Owner Associations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_LoanAmortizationSwedishTenantOwnerAssociations" xlink:href="peab-2025-12-31.xsd#peab_LoanAmortizationSwedishTenantOwnerAssociations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_LoanAmortizationSwedishTenantOwnerAssociations" xlink:to="lab_peab_LoanAmortizationSwedishTenantOwnerAssociations" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_CashFlowBeforeFinancing_019cfba1-da47-7488-b883-731974f39214_totalLabel_sv" xlink:label="lab_peab_CashFlowBeforeFinancing" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Kassaflöde före finansiering</link:label>
    <link:label id="lab_peab_CashFlowBeforeFinancing_label_sv" xlink:label="lab_peab_CashFlowBeforeFinancing" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Kassaflöde före finansiering</link:label>
    <link:label id="lab_peab_CashFlowBeforeFinancing_documentation_sv" xlink:label="lab_peab_CashFlowBeforeFinancing" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Cash Flow Before Financing</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_CashFlowBeforeFinancing" xlink:href="peab-2025-12-31.xsd#peab_CashFlowBeforeFinancing"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_CashFlowBeforeFinancing" xlink:to="lab_peab_CashFlowBeforeFinancing" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInWorkingCapital_7df60961-6215-4fe3-a60a-7137a626035b_totalLabel_sv" xlink:label="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Ökning (minskning) i rörelsekapital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_InterestBearingLongTermReceivables_label_sv" xlink:label="lab_peab_InterestBearingLongTermReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Räntebärande långfristiga fordringar</link:label>
    <link:label id="lab_peab_InterestBearingLongTermReceivables_documentation_sv" xlink:label="lab_peab_InterestBearingLongTermReceivables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Interest-bearing long-term receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_InterestBearingLongTermReceivables" xlink:href="peab-2025-12-31.xsd#peab_InterestBearingLongTermReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peab_InterestBearingLongTermReceivables" xlink:to="lab_peab_InterestBearingLongTermReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_peab_InterestBearingLongTermLiabilitiesProjectFinancing_label_sv" xlink:label="lab_peab_InterestBearingLongTermLiabilitiesProjectFinancing" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Räntebärande långfristiga skulder, projektfinansiering</link:label>
    <link:label id="lab_peab_InterestBearingLongTermLiabilitiesProjectFinancing_documentation_sv" xlink:label="lab_peab_InterestBearingLongTermLiabilitiesProjectFinancing" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Interest Bearing Long Term Liabilities Project Financing</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_InterestBearingLongTermLiabilitiesProjectFinancing" xlink:href="peab-2025-12-31.xsd#peab_InterestBearingLongTermLiabilitiesProjectFinancing"/>
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    <link:label id="lab_peab_RaisedLoansSwedishTenantOwnerAssociations_label_sv" xlink:label="lab_peab_RaisedLoansSwedishTenantOwnerAssociations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Upptagna lån svenska bostadsrättsföreningar</link:label>
    <link:label id="lab_peab_RaisedLoansSwedishTenantOwnerAssociations_documentation_sv" xlink:label="lab_peab_RaisedLoansSwedishTenantOwnerAssociations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Raised Loans Swedish Tenant Owner Associations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_RaisedLoansSwedishTenantOwnerAssociations" xlink:href="peab-2025-12-31.xsd#peab_RaisedLoansSwedishTenantOwnerAssociations"/>
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    <link:label id="lab_ifrs-full_GrossProfit_97b0f059-9dff-4f8e-b1dd-7fc6dfd686ed_totalLabel_sv" xlink:label="lab_ifrs-full_GrossProfit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Bruttoresultat</link:label>
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    <link:label id="lab_peab_LoanAmortization_label_sv" xlink:label="lab_peab_LoanAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Amortering av lån</link:label>
    <link:label id="lab_peab_LoanAmortization_documentation_sv" xlink:label="lab_peab_LoanAmortization" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Loan Amortization</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
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    <link:label id="lab_peab_InterestBearingLongTermLiabilities_label_sv" xlink:label="lab_peab_InterestBearingLongTermLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Räntebärande långfristiga skulder</link:label>
    <link:label id="lab_peab_InterestBearingLongTermLiabilities_documentation_sv" xlink:label="lab_peab_InterestBearingLongTermLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="sv">Interest Bearing Long Term Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peab_InterestBearingLongTermLiabilities" xlink:href="peab-2025-12-31.xsd#peab_InterestBearingLongTermLiabilities"/>
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