SSM starts production of Sollentuna Hills project with 94 homes
SSM Holding AB (publ), Sweden’s leading developer of smart and affordable homes, is now starting production of the Group’s second rental unit project, Sollentuna Hills. The project comprises 94 homes with a separate balcony/French balcony or terrace in Väsjön, Sollentuna, a growing urban area close to nature. The first tenants are expected to move in during 2020. The project is being developed solely by SSM. The Group’s long-term goal is for 30 percent of all homes in production to be rental units.
Sollentuna Hills is part of the Väsjön area in Sollentuna, an attractive and growing urban area close to nature. Väsjön is being prepared for approximately 4,000 homes in the form of villas, townhouses and apartments. According to the plans, the homes will be close to nature and sports facilities.
The Sollentuna Hills project was initially planned as a pure cooperative apartment project with 183 apartments but during 2018, it was restructured into a rental unit project and a cooperative apartment project of 94 homes each. The architecture of Sollentuna Hills will feature plaster facades and building sections of varying heights.
Today’s production start of the Sollentuna Hills project marks the beginning of the Group’s second rental unit project. The project will be developed under SSM’s own management. The homes in the rental unit project will be one- to three-room units with a residential floor space of 38 to 88 m2. About 80 percent of the units will have a floor space of between 40 and 64 m2. Occupancy is planned for 2020.
The conversion of booking agreements into pre-purchase agreements in the cooperative apartment part of the Sollentuna Hills project, consisting of 94 cooperative apartments, of which five townhouses, has also started. To date, 54 booking agreements and 13 pre-purchase agreements have been signed.
“It is with great pleasure that we announce the start of production of SSM’s second rental unit project. These 94 rental units will be a much-needed addition to Stockholm’s rental market,” says Mattias Roos, President & CEO of SSM.
SSM’s long-term business strategy is to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing.
The information in this press release is such, which SSM Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 07.30 CET on May 23, 2018.
| For more information, please contact: | |
| Mattias Roos | Ann-Charlotte Johansson |
| President & CEO | Chief Communications & IR Officer |
| Email: mattias.roos@ssmliving.se | Email: ann-charlotte.johansson@ssmliving.se Telephone: +46 (0)761-65 17 71 |
About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group – the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. SSM is the leading property developer in its niche within the Greater Stockholm area and in May 2018, the company had approximately 6,700 building permits in its portfolio. SSM was listed on Nasdaq Stockholm (Mid-cap) on April 6, 2017. www.ssmlivinggroup.com
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