Bonava sells housing project with 36 rental apartments in Germany
Bonava has sold 36 rental apartments divided on several buildings and a commercial premise to the investor WERTGRUND. The project is located in Bonn.
- Germany is a strategically important market for us, especially in terms of developing our rental business. This project clearly indicates our vision for developing homes and happy neighbourhoods where people have the highest quality of life. This time, it is in the form of high-quality, affordable rental units, says Joachim Hallengren, President and CEO of Bonava.
The rental apartments are part of a new residential area now taking form in which, apart from these rental apartments, Bonava is also developing 40 tenant-owner apartments and 41 semi-detached houses. The neighbourhood is located near green areas, a preschool, and shops.
The project is expected to be handed over to the customer and recognised in profit as of the third quarter of 2018.
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