Bonava sells 96 rental apartments in Germany

Bonava is selling a housing project in Schönefeld, Germany, to the property company Industria Wohnen. The project comprises 96 rental apartments in four apartment blocks. The transaction is worth approximately SEK 174 M.

- The development of high-quality, affordable rental units is important to realizing our vision of creating homes and happy neighborhoods where people have the highest quality of life, says Joachim Hallengren, President and CEO of Bonava.

This is not Bonava’s first project in the area. Bonava, which according to the independent market research company BulwienGesa is the most active residential development company in Germany’s metropolitan areas, has purchased a total of 115 000 m2 of land and sold 85 new row houses to private customers, and this new residential area is already home to 43 families.

The sale will be the sixth of its kind to Industria Wohnen. The housing project is expected to be completed and will be recognized in profit in Bonava Germany in the fourth quarter of 2017.

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: +46 700 887 133, E-mail: ir@bonava.com

Bonava is a leading residential development company in Northern Europe. Born out of NCC, Bonava has been creating homes and neighbourhoods since the 1930’s. Today Bonava has 1,400 employees and operates in Sweden, Finland, Denmark, Norway, Germany, St. Petersburg, Estonia and Latvia with sales of SEK 13 billion. Bonava’s shares are listed on Nasdaq Stockholm. For more information about us:  bonava.com