A lifting device (20) for installing lightweight prefabricated elements (21) in place on a wall or ceiling of a building. The lifting device comprises an intermediate storage (37) for the lightweight prefabricated elements and a lifting unit (22) provided with a gripping means (23, 36) for transferring the lightweight prefabricated elements from the intermediate storage to the installation site. According to the invention, the lifting device equipped with the intermediate storage incorporates at least one work station (26) for the installer (35) installing the lightweight element (21) in place. When there are two work stations (26a, 26b), the first work station (26a) is intended for the installer (35a) installing the first end of the lightweight prefabricated element (21) in place, and the second work station (26b) for the installer (35b) installing the opposite end of the lightweight prefabricated element in place. In a most preferred embodiment, the work stations (26a, 26b) are connected to turning booms (25a, 25b), which are mounted on the frame (24) of the lifting device so that the work stations are movable in both vertical and lateral directions.