Magnolia Bostad and Heimstaden Bostad form a JV and sign agreement on acquisition of land in Åkersberga

Magnolia Bostad and Heimstaden Bostad have formed a joint venture aimed at jointly developing about 150,000 sq.m. of GFA housing in Näsängen, a seaside area in Åkersberga, Österåker municipality.

The acquisition concerns parts of the properties Näs 7: 1, Näs 7: 3 and Näs 7: 5 and is taking place as a corporate transaction. The seller is Näsängen Utveckling AB, which is owned by a number of property players.

Näsängen is planned to consist of multi-dwelling buildings, terraced and detached houses and single houses, of a typical small-town character. In addition to housing, plans are also being made for services in the form of shops and restaurants, as well as preschools, schools and possibly residential care units. The main focus is on public areas such as streets, squares and parks.

A far-reaching zoning planning process was previously carried out but was cancelled in 2019 by the Land and Environmental Court. As the area is scenic and located by the sea, it is important to take this into account when developing the area. The recently formed JV, together with Österåker municipality, will continue to run a revised zoning plan.

“It’s very gratifying to continue our collaboration with Heimstaden Bostad and we see great value in combining our strengths and expertise in an area with great potential such as Näsängen. We have a joint ambition to develop a sustainable urban district partly built of wood, focusing on social areas,” says Fredrik Lidjan, CEO of Magnolia Bostad.

Magnolia Bostad, together with Heimstaden Bostad, will develop and run the project for long-term management. The acquisition is conditional on the zoning plan coming into force.

For more information, please contact:
Thomas Persson, Head of Business Generation and Eastern Regional Director
070 533 15 68, thomas.persson@magnoliabostad.se

Mikaela Senator, IR Manager
070 775 57 57, mikaela.senator@magnoliabostad.se

Magnolia Bostad AB, CIN 556797-7078 develops new residential properties, including rental apartments, tenant-owned apartments, residential care housing and hotels, in attractive locations in Sweden's growth areas and major cities. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.se

Tags: