Occupancy underway in phase 1 of 22byQuartiers project
Quartiers Properties AB (publ) (“Quartiers Properties” or “the company”) has sold 80 percent of phase one, with occupancy having started as planned on 28 September.
The total realised sales value of the project so far is EUR 3.9 million. This compares with the book value in the balance sheet of approximately EUR 2.5 million, before selling costs. The estimated profit margin for the project as a whole is around 40 percent, which is in line with the forecast issued on 11 December 2017.
Sales activities are now focused on phase two, with occupancy taking place in January 2019. A number of apartments have already been reserved.
“We’re happy with the rate of sales we’ve achieved on the project since its full-scale launch in June this year. The sales organisation we’ve built up during 2018 has delivered according to plan,” said Interim CEO Marcus Johansson Prakt.
The previously announced profit from the overall project is estimated to remain intact.
For further information, please contact:
Marcus Johansson Prakt, Interim CEO
Phone: +46 (0)72-018 59 98
The company in brief
Quartiers Properties is a Swedish property development company with operations on the Spanish Costa del Sol. The company was founded in 2014 and has since built up a property portfolio of investment properties and project properties. The company develops, sells and leases property.
Mangold is the company’s certified adviser. Mangold can be contacted on +46 (0)8-503 015 50.