Balder becomes a new partner in Kungens kurva
KF Fastigheter has chosen Balder as a new partner and joint owner in the company that will develop Kungens kurva into a complete city district with about 3,500 new apartments, schools, retail space and services.
“KF Fastigheter is a well-run company with extensive experience of good urban development. I am convinced that we can create something really great together,” says Erik Selin, CEO Balder.
Balder is acquiring half of the shares in the joint venture company that was created to develop the future city district. The company will develop building rights, primarily for housing and community services in the form of schools, nursery schools, care centres, grocery stores, homes for the elderly and communications. A large district park will become the green heart of the area. The planning scheme is expected to be approved during the autumn of 2019, when the zoning plan work can begin.
“It’s a great asset for the implementation and future of the project to secure a strong and stable partner like Balder. We are now looking forward to developing the new city district together into a modern and sustainable future area south of Stockholm,” says Helena Liljedahl, CEO of KF Fastigheter.
The company also has the possibility to sell a part of the building rights in the future. As part of the transaction, 20 per cent of the building rights are also transferred to Trenum ‒ a company jointly owned by Balder and the Third Swedish National Pension Fund ‒ which will construct rental apartments in the future city district bordering IKEA, Heron City and the Gömmaren Nature Reserve.
"This is an important step in the development of Kungens kurva, which in a few years will not only be a location for shopping and experiences but will also be an attractive place to live for thousands of Huddinge residents," says Daniel Dronjak, Chairman of the Municipal Executive Board in Huddinge.
Kungens kurva is designated as a regional city centre in the County Council’s development plan for the Stockholm region. Major infrastructural investments include the Tramway South (Spårväg syd) and the Stockholm Bypass (Förbifart Stockholm), among other projects. In the Municipality’s detailed comprehensive plan, a lively combination is planned of a retail centre and attractive residential environments.
“Kungens kurva is an exciting location, which will have a key role in relieving pressure on Stockholm City with housing and communications, among other things. We already have a strong relationship with Huddinge Municipality and I am looking forward to further advancing this collaboration,” says Erik Selin.
The visualizations were produced by ÅWL Arkitekter.
For further information please contact:
Erik Selin, CEO, tel +46 706 07 47 90
Helena Liljedahl, CEO of KF Fastigheter, tel +46 10 7434465
Fastighets AB Balder Fastighets AB Balder is a listed property company which shall meet the needs of different customer groups for premises and housing based on local support. Balder’s real estate portfolio had a value of SEK 123.2 (104.1) billion as of 31 March 2019. The Balder share is listed on Nasdaq Stockholm, Large Cap.
Fastighets AB Balder (publ)
Box 53121, 400 15 Gothenburg
Tel +46 31 10 95 70
Corp. identity no. 556525-6905, Registered office Gothenburg
balder.se
