Serneke and Balder to develop additional properties in Karlastaden

Serneke and Fastighets AB Balder are forming a joint company to continue their collaboration in the Karlastaden district. The company will develop three buildings in the district, comprising a total approximately 45,000 square meters GFA and approximately 450 apartments.

“It feels highly gratifying to take the next step towards realizing one of the Nordic region’s most exciting property development projects alongside Serneke. We are continuing our beneficial collaboration with Serneke and look forward to the continued development of Karlastaden with confidence,” says Erik Selin, CEO of Balder.

Through the joint company, Balder and Serneke will develop three more of the total of eight blocks in the emerging Karlastaden district in the Lindholmen area of Gothenburg. The three buildings encompass about 45,000 square meters and, according to initial plans, will have between seven and 27 floors, containing mostly housing but also commercial spaces, retail, and offices. The transaction includes future contracts for Serneke. Construction of the buildings in question is scheduled to commence in 2022.

“This is a major event in Karlastaden’s history, but also for me personally, as numerous colleagues and I have for a long time been involved in advancing the plans for the district from the concept stage to implementation. That we are now continuing our collaboration with Balder, providing additional homes and a new, living part of the city, feels extremely satisfying,” says Ola Serneke, CEO of Serneke Invest.

Since December 2020, Balder has held a 50-percent share in the joint company Karlatornet AB, which owns and is developing Karlatornet, the Nordic region’s tallest building.

For further information, please contact:
CEO Erik Selin, tel. +46 706 074 790
Head of Swedish Property Development Emil Engelbrektsson, telephone +46 31 10 95 96
Head of Communications Sandra Nilsson, telephone +46 31 10 95 80

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 160.3 billion (151.2) as of 31 March 2021. 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