Bonava sells 52 rental apartments in Germany
Bonava is selling a rental project in Mannheim-Käfertal , Germany, to the investor WERTGRUND Immobilien AG for approximately SEK 170 million. The project comprises 52 rental apartments and is the third divestment to WERTGRUND Immobilien AG.
- Germany is a strategically important market for us and one where our ambition is to grow. We can see that there is major demand for affordable housing in neighbourhoods where people can have the highest quality of life, which is in line with our offering. We are following our plan, which is to continue to grow in the German market by 5–10 percent per year on average, says Joachim Hallengren, President and CEO of Bonava.
The rental project is part of the construction of a new residential area in Mannheim-Käfertal. Pre-schools, supermarkets and shops are located near to the area, and central Mannheim is only a few minutes away by local public transport.
The project is expected to be handed over to the customer and recognised in profit in the third quarter of 2019.
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. 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 in 2016. Bonava’s shares are listed on Nasdaq Stockholm.
For more information about us, visit: bonava.com