SSM acquires housing project for approximately 370 homes in central Jakobsberg
SSM Holding AB (publ), the leading property developer in the Stockholm region within affordable homes, is continuing to expand by acquiring a housing project in central Jakobsberg from Upland Securities AB. The project comprises a total floor space of approximately 19,000 m2 that SSM intends to develop into about 370 cooperative apartments. The initial purchase price is 30 MSEK plus an additional sum once the detailed development plan has been approved. The sales start is expected in the second quarter of 2018, with occupancy to start in the beginning of 2020.
SSM has acquired a property (company: Riddersvik Fastigheter AB) in central Jakobsberg (Järfälla municipality). In line with SSM’s focused acquisition strategy, the property is attractively located just 100 m from the commuter train station.
The project comprises about 19,000 m2 of floor space that SSM intends to develop into approximately 370 cooperative apartments. The project will be run solely by SSM and sales are expected to start in the second quarter of 2018, with occupancy to start in the beginning of 2020.
The vendor is Upland Securities AB and the purchase price in addition to 30 MSEK will be paid once the detailed development plan has been approved.
Järfälla municipality is expected to grow from 70,000 inhabitants to more than 100,000 by 2030. The municipality, in which Jakobsberg is a central point, is one of eight urban areas that has the potential to become a regional hub that can complement and relieve central Stockholm according to the Stockholm region’s development plan RUFS 2010.
- Our new project in Jakobsberg is completely in line with our customers’ demand for homes in urban environments close to good public transport. This makes it a valuable addition to our project portfolio, says Mattias Roos, President & CEO for SSM.
Following the acquisition, SSM will have more than 6,500 building rights in the planning or production phase, with a sales rate of 95.5 percent for units in production.
For more information, please contact:
Ann-Charlotte Johansson, Chief Communications & IR Officer
Phone: +46 761 65 17 71
About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group — the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. SSM is the leading property developer in its niche within the Greater Stockholm area and in October 2017, the company had approximately 6,500 building permits in its portfolio. SSM was listed on Nasdaq Stockholm (Mid-cap) April 6, 2017 www.ssmlivinggroup.se