Bonava purchases land and creates neighbourhood for 450 homes in Germany
Bonava has entered an agreement with land development company Hugos Wohngärten GmbH to acquire land at a price of approximately SEK 490 M in Mariendorf, Berlin. A total of 450 housing units with mixed forms of tenure will be created.
The properties are located close to public transport, enabling future residents fast access to the centre of Berlin, which is only 14 kilometres away. The area is well-served by schools, shops and public transport, with good connections to Berlin’s airports.
- Berlin is growing, and neighbourhoods with affordable housing for people at different stages of life – which is what we offer – are in demand. The project is also in line with our ambition to grow in the German market, says Joachim Hallengren, President and CEO of Bonava.
Bonava will gain access to the land in Q3 2017, and plans to start selling the housing units in autumn 2017.
For more information, please contact:
Ann-Sofi Danielsson, CFO and Head of Investor Relations
Tel: +46 706 740 720
Bonava’s media line
Tel: +46 709 556 654
Bonava is a leading residential development company in Northern Europe. Born out of NCC, Bonava has been creating homes and neighbourhoods since the 1930s. Today, Bonava has 1,600 employees and operates in Sweden, Germany, Finland, Denmark, Norway, St. Petersburg, Estonia and Latvia, with sales of SEK 13.5 billion. The Bonava share is listed on Nasdaq Stockholm.
For more information about us, visit: bonava.com
Prior to publication, this information comprised inside information and, as such, is of the type that Bonava AB (publ) is obligated to disclose pursuant to the EU Market Abuse Regulation. The information was issued for publication through the agency of the contact persons set out above on 5 May 2017, at 08:00 p.m. CET.