Significant social values generated by positive development in Rosengård
A sharp decrease in criminality, more people in work and higher voter turn-out are the results of systematic work by property owners in partnership with the authorities and civil society in Herrgården, part of Rosengård in Malmö. These were the conclusions of a report that highlights developments in the area since 2013, and measures the socioeconomic effects of work carried out by Victoria Park to approximately SEK 260 M over a ten-year period.
When the property company Victoria Park acquired Herrgården in Rosengård in 2012, the area was characterised by criminality, high unemployment, run-down outdoor environment and dilapidated flats. The area has since been gradually transformed through systematic efforts by the property owner in partnership with the police, emergency services, the municipality and civil society, with a reduction in criminality, fewer people unemployed, a decrease in financial assistance and an improvement in the area’s standard and status. For example, criminality has decreased by almost 40 percent between 2012 and 2017 and financial assistance payments have fallen by almost 20 percent from 2014 to 2017.
“The transformation we can see in the area over the five-year period has a major societal impact. Not least, through more people in work and a reduction in social tension. We have also noted less criminality, such as fewer car fires, less violence and a reduction in vandalism, which are vital in our efforts to create an attractive residential area,” says Per Ekelund, CEO of Victoria Park.
Victoria Park’s social sustainability work has had an important role, and includes job creation for residents who are long-term unemployed, relationship building with residents and renovation of vacant flats. Together with practical physical measures in the indoor and outdoor environments and interaction with other private and public players, a major change is taking place in Herrgården with highly positive socioeconomic effects.
“When we studied Herrgården, we have calculated the socioeconomic effects in detail of the positive transformation of Herrgården. Given the assumptions we have made, the socioeconomic effects of the work carried out by Victoria Park are approximately SEK 260 M over a ten-year period. This includes both direct and indirect societal effects and commercial effects,” says the national economist Ingvar Nilsson.
The English summary of the Swedish Report “Droppen som urholkar stenen – Utvecklingen av Herrgården” [Constant dropping wears away a stone – the trend in Herrgården] is attached. Printed report can be ordered via www.victoriapark.se/english.
The full report in Swedish is available for download on the company´s website.
For further information, please contact
Per Ekelund, CEO Victoria Park, +46 (0)70 867 66 57, firstname.lastname@example.org
Ingvar Nilsson, National economist and author of the report, +46 (0)70 531 94 34, email@example.com
Victoria Park AB (publ) is a listed property company, which, through long-term management and social responsibility for more attractive living, creates value in an expanding property portfolio in growth cities in Sweden.
On 31 December 2018, Victoria Park's property portfolio amounted to 1,128,000 square metres, comprising 14,300 flats, with a market value of SEK 18.1 Bn. The shares in Victoria Park are listed for trading on the Nasdaq Stockholm Mid Cap exchange.
Victoria Park AB (publ)
Box 2, 201 20 Malmö, Tel +46 (0)40 16 74 40, Corporate Reg No 556695-0738, Head Office Malmö, www.victoriapark.se/english