Bonava acquires land and creates new neighbourhood in Langen, Germany
Bonava is entering into agreements for the acquisition of land from a number of sellers at a total price of approximately SEK 140 M to SEK 190 M. The properties are located in Langen near Frankfurt am Main, an area where Bonava will develop homes in the form of apartment blocks, row houses and semi-detached houses.
The land is located some 20 kilometres from Frankfurt am Main. With good infrastructure connections to both Frankfurt and Darmstadt, Langen is an ideal residential area for commuters working in either of the cities or at Frankfurt Airport. The area is located close to schools, shops and public transport.
- I am pleased that we can expand our building rights portfolio in the growing and prosperous area close to Frankfurt. We have been working for a relatively long time in the area and are aware of its potential, says Joachim Hallengren, President and CEO of Bonava.
The project is expected to start at the end of 2020, with the first customers scheduled to move in at the beginning of 2023.
For more information, please contact:
Ann-Sofi Danielsson, CFO and Head of Investor Relations
ann-sofi.danielsson@bonava.com
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 person set out above on 27 April 2017, at 8:00 a.m. CET.