Bonava buys land and plans for 450 housing units in Düsseldorf

Bonava buys land in Düsseldorf, Germany. The site is located in an area where Bonava plans to create a new neighbourhood with more than 450 apartments. It is estimated that the first housing units will be recognised in profit and handed over to the customer in the second quarter of 2022.

- Germany is our largest market and the purchase in Düsseldorf is in line with our strategy to expand in the German market. We see high demand for affordable housing in areas where people want to live, which is in line with our offering, says Joachim Hallengren, President and CEO of Bonava.

The properties are immediately south of Düsseldorf, close to schools, preschools, businesses, gyms and public transportation. Bonava is expected to take over the property in the first quarter of 2020.

There is a substantial demand in the German market, where an estimated 400,000 new housing units need to be built each year for the next ten years. In the spring, Bonava was named Germany’s most active housing developer for the seventh consecutive year according to the market location and analysis company BulwienGesa.  

For more information, please contact:

Louise Tjeder, Head of Investor Relations
louise.tjeder@bonava.com
Tel: +46 707 826 374

Fredrik Hammarbäck, Group Head of Press and Public Affairs
fredrik.hammarback@bonava.com
Tel: +46 739 056 063

Bonava is a leading residential development company in Northern Europe. Bonava has been creating homes and neighbourhoods since the 1930s. Bonava has 2,100 employees and operates in Germany, Sweden, Finland, Denmark, Norway, St. Petersburg, Estonia and Latvia, with sales of SEK 14.0 billion in 2018. Bonava’s shares are listed on Nasdaq Stockholm.

For more information about us, visit: www.bonava.com