Peab signs contract to sell a rental apartment complex in Växjö for SEK 716 million

Peab has today signed a contract to sell a rental apartment complex in Växjö for SEK 716 million which will be turned over during 2024 and 2025.

Peab has today signed a contract to sell a rental apartment complex containing a total of 334 apartments worth SEK 716 million. The complex will be erected east of the Fagrabäck Roundabout in Växjö. The purchaser of the rental apartment complex is K2A Knaust & Andersson Fastigheter AB. Production is planned to start in 2021 and the complex will be completely finished in 2025.

“The strong demand for rental apartments has provided us with good opportunities to develop more property into rental apartment projects. Being able to offer both tenant-owner and rental apartments in the coming years creates a good platform for operations in business area Project Development as well as the Group’s other business areas. Naturally we are also happy to be able to contribute to the range of housing alternatives in more municipalities,” says Göran Linder, BA Manager Project Development Peab.

Zoning for the area is already in place which enables a quick production start. The apartment buildings will be nearly zero-energy buildings with modern solutions for carpooling and smart mobility. The courtyards will be protected and green oases open up towards existing buildings in a square formation.

The rental apartment complex will be on Peab’s own balance sheet and recognized in revenue when signed over in 2024 and 2025.

Peab is beginning to develop following stages consisting of tenant-owner apartments.

 

For further information, please contact:

Daniel Ferreira, Communications Manager Project Development Peab, +46 725 33 50 86

Juha Hartomaa, Head of Investor Relations Peab, +46 725 33 31 45

Peab is the Nordic Community Builder with 16,000 employees and net sales of SEK 57 billion. With a local presence and focus on our own resources we develop, do the groundwork and build everyday life where it’s lived. Company headquarters are in Förslöv on Bjäre Peninsula in southern Sweden. The Peab share is listed on Nasdaq Stockholm.

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The strong demand for rental apartments has provided us with good opportunities to develop more property into rental apartment projects. Being able to offer both tenant-owner and rental apartments in the coming years creates a good platform for operations in business area Project Development as well as the Group’s other business areas. Naturally we are also happy to be able to contribute to the range of housing alternatives in more municipalities.
Göran Linder, BA Manager Project Development Peab