Bonava to develop new neighbourhood in Espoo, Finland

Bonava has signed a binding pre-agreement with Kemira’s pension fund Neliapila enabling Bonava, in cooperation with Neliapila and Kemira, to develop a new neighborhood in the Finnoo district of Espoo that will become approximately 50,000 m2. The area is scheduled for completion around 2030.

-  It pleases me to note that Espoo and Finnoo are continuing to grow as an attractive area, and we look forward to being active there. We can see that there is demand in the area for affordable housing where people have the highest quality of life, which is something we will now offer in Finnoo, says Joachim Hallengren, President and CEO of Bonava. 

Both parties will initiate negotiations with Espoo Municipality to produce a detailed development plan. The final transaction will be effected when the initial commitments have been met and the detailed development plan becomes final. 

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:

ir@bonava.com

Tel: +46 709 556 654

Bonava is a leading residential development company in Northern Europe. Bonava has been creating homes and neighbourhoods since the 1930s. Bonava has 2,000 employees and operates in Sweden, Germany, Finland, Denmark, Norway, St. Petersburg, Estonia and Latvia, with sales of SEK 14.5 billion in 2017. Bonava is listed on Nasdaq Stockholm.

For more information about us, visit: bonava.com

This is the type of information that Bonava AB (publ) could be 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 12 June 2018 at 9:00 a.m. CET.