Magnolia Bostad awarded land allocation for approx. 200 homes in Norrtälje Municipality

Magnolia Bostad has been awarded a land allocation in Norrtälje. The Company is to develop approximately 200 new homes in the new neighbourhood Lommarstranden.

Situated by the water, Lommarstranden offers proximity to beautiful nature, good transportation connections and local services. When completed the area will include over 1,000 new rental and tenant-owned residential units, apartments as well as small houses.

Currently, Magnolia Bostad is performing preliminary investigations in cooperation with the municipality. Local planning is to be initiated in early 2016 and is estimated to become final in October 2017.

– I am pleased that we have been given the possibility to contribute to the development of Norrtälje through our participation in the Lommarstranden project, says Fredrik Lidjan, CEO of Magnolia Bostad. Norrtälje’s positive population growth and its proximity to Stockholm and Uppsala make it a very interesting municipality for Magnolia Bostad.

For more information, please contact:
Fredrik Lidjan
CEO
+46 70 223 43 47
fredrik.lidjan@magnoliabostad.se

Magnolia Bostad was founded in 2009 with the vision of creating modern homes and residential environments through smart functions and attractive architecture. The company develops new housing, both rental apartments and tenant-owned apartments, mainly in attractive locations in Sweden’s larger cities and regional capitals. We operate with a holistic view that aims to achieve long-term sustainable development for the society at large. The project portfolio encompasses approximately 5,700 homes. Magnolia Bostad is listed on Nasdaq First North. Erik Penser Aktiebolag is engaged as the Certified Adviser for the Company. 

More information about Magnolia Bostad can be found at www.magnoliabostad.se 

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