Quartiers Properties given go-ahead to apply design changes to Ocean View project
Quartiers Properties AB (publ) (“Quartiers” or “the company”) has today been granted permission to carry out changes to the Ocean View project. This will enable the company to make significant improvements to the project and apply a more modern, appealing style compared with the original drawings. The decision sees Quartiers taking an important step towards realising its objective of creating additional shareholder value of just under EUR 10 million for the current project.
The decision was reached today at an extraordinary meeting for the association in question, where Quartiers also owns the apartments that are rented out by the company. The Ocean View project comprises 60 apartments located in Benahavís with an estimated sales value of just under EUR 30 million and an anticipated profit after tax of around EUR 10 million.
“This is a major success for Quartiers, which means we can now accelerate the commercialisation of the project ahead of rollout in the first half of 2019. We will be engaging architecture and branding studio Whyte Lilja, based in Stockholm and with previous experience of property development in Spain, to advise on the design concept for the project.”
Marcus Johansson Prakt, Interim CEO.
Further information about Ocean View and the company’s other projects can be found on Quartiers’ website and in the investor presentation that was published on 13 December 2018.
For further information, please contact:
Quartiers Properties
Marcus Johansson Prakt, Interim CEO
Email: marcus.prakt@quartiersproperties.se
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.