SBB and Savana build 409 apartments in Brandbergen, south of Stockholm
Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) and Savana Holding AB (”Savana”) initiates a collaboration on new production of housing in Brandbergen centre in Haninge Municipality. In total, the project comprises 409 apartments, an investment of approximately SEK 800m. SBB expects a "yield on cost” of 4.5 per cent. Savana guarantees the construction cost. In addition, Savana will focus on selling 137 apartments as condominiums. The condominiums are estimated to generate a profit of approximately SEK 50 million for each party. SBB will be the long-term owner of 272 rental apartments. The tenancies will be taken over upon completion, which is expected to take place during the first quarter of 2022 and the fourth quarter of 2022.
"We continue to strengthen our position in the Stockholm region and in Haninge Municipality, where in addition to this new construction we expect to commence building in Jordbro and Västerhaninge", comments Krister Karlsson, Deputy CEO of Samhällsbyggnadsbolaget i Norden AB.
Savana has been advised by Tango.
For further information, please contact:
Krister Karlsson, Deputy CEO, Samhällsbyggnadsbolaget i Norden AB, firstname.lastname@example.org
Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region’s leading property company in social infrastructure. The Company’s strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB’s commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company’s series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. The Company’s preference shares (ticker SBB PREF) are listed on Nasdaq First North Premier Growth Market. Certified Adviser is Erik Penser Bank (contact: email@example.com / +46 84638300). Further information about SBB is available at www.sbbnorden.se.