Wallenstam leaves Property Owners Association in Gothenburg
Wallenstam leaves Property Owners' Association in Gothenburg Wallenstam has cancelled its membership of the Property Owners' Association in Gothenburg. The reasons for this are partly that the Association of Gothenburg and Wallenstam have for a long time had different opinions about what questions should be prioritised and partly that this year's rent negotiations have not been in line with the statements made by the Association. Hans Wallenstam, Managing Director of Wallenstam, comments as follows on the Company's decision: "The property Owners' Association of Gothenburg protects primarily the short- term interests of the small property owners and ignores the questions which are important in long term such as satisfying the demand for good housing by promoting more equitable rent levels in order to stimulate the production of new housing. Accordingly, the association has in our view not been able to supply the services Wallenstam needs. However Wallenstam will consider resuming its membership of the Property Owners' Association in Gothenburg when the interests of the two parties coincide again." Wallenstam's decision does not affect its membership of the Property Owners' Association of Stockholm and of Norra Skåne. Gothenburg, 9 April, 1999 Lennart Wallenstam Byggnads AB (publ) For further information, please contact Hans Wallenstam, Managing Director, or Thomas Dahl, Director of Marketing & Information, phone +46-31 200 000. Wallenstam was founded in 1944 and, with more than 10,000 apartments in its portfolio, is one of the largest residential property companies on the Stockholm Stock Exchange. With floor space totalling about 1,000,000 m2 and a market value of about SEK 1 billion, Wallenstam is also one of the largest listed property companies in Sweden ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/09/19990408BIT00310/bit0001.doc http://www.bit.se/bitonline/1999/04/09/19990408BIT00310/bit0002.pdf