Balder in new hotel investment
Balder together with Folkets Hus and the hotel operator Nordic Choice has entered into an agreement to develop, construct and operate the new hotel at Järntorget in Gothenburg.
On 7 June, the City Council approved the zoning plan for the area and start of construction of the new hotel is expected to occur in February 2019. The 33-floor building will contain 453 hotel rooms from where guests will have a fantastic view over the city and harbour entrance.
“Gothenburg has a special place in my and Nordic Choice Hotel’s heart and I know that Draken has a very special place in the heart of Gothenburgers. In other words, there is a lot of love and passion when this new hotel will now start to be built. This is a dream project for me and I am ready to turn the first sod any day you like,” says Nordic Choice Hotel’s founder Petter A Stordalen.
The existing building will be linked together with a new building. For all the partners involved in the project it has been important to retain the classic Draken cinema theatre but also to combine the 1950’s style with the present day.
“Folkets Hus in Gothenburg is a centre for meetings, entertainment and culture. We are now taking the next step in order to create a genuine meeting and entertainment culture with the help of Balder and Nordic Choice,” says Lina Lindqvist, CEO of Folkets Hus.
The new hotel is the result of the fact that the parties Balder, Nordic Choice Hotels and Folkets Hus Gothenburg have a common desire and ambition to preserve Draken but also to develop the property and provide more meeting and accommodation capacity to Gothenburg.
“It feels very positive together with Folkets Hus and Nordic Choice to be involved in the realization of this excellent project. I think it is really good that the project is part of a larger plan for the area, both for those who live in the area but also for the city generally,” says Erik Selin CEO of Balder.
Balder currently owns a total of 48 hotel properties, of which two are under construction.
For further information, please contact
CEO Erik Selin, tel. +46 706 074 790 or
Head of Finance Marcus Hansson, tel. +46 768 369 848
Photo: Adore Adore / Erséus Arkitekter
Fastighets AB Balder is a listed real estate company which shall meet the needs of different customer groups for premises and housing through local support. Balder's real estate portfolio had a value of SEK 104.1 billion (88.4) as of 31 March 2018. The Balder share is listed on Nasdaq Stockholm, Large Cap
Fastighets AB Balder (publ)
PO Box 53 121, 400 15 Gothenburg
Tel: +46 31 10 95 70
Corporate Identity No. 556525-6905, Registered office Gothenburg
balder.se
