Magnolia Bostad and Heimstaden develops homes in Skellefteå
Magnolia Bostad signs an agreement to sell the Västra Erikslid project in Skellefteå municipality to Heimstaden Bostad. The project involves the development of approximately 300 residential units of 21,000 sq.m. GFA. Estimated property value at completion is about SEK 475 million.The sale concerns part of the Skellefteå 5:1 property in Västra Erikslid, in which Magnolia Bostad won a land allocation competition in March 2020. The project has a zoning plan in force and turnkey contract is signed with Derome. The sale takes place as a company transfer with estimated occupancy at the end of