Bonava Acquires Land and Creates Neighbourhood with 450 Housing Units in Täby

STOCKHOLM--()--Regulatory News:

Bonava (STO:BONAVAA) (STO:BONAVAB) has concluded an agreement for the acquisition of eight properties from Pentavägsfastigheter i Täby AB at a price of approximately SEK 236 M. The properties are located in the Pentavägen industrial area in Roslags-Näsby, an area for which Bonava will pursue a zoning process to construct about 450 housing units.

The Pentavägen industrial area has been identified as a prioritised development area in Täby, given its attractive location south of the Täby Centrum shopping centre. The area is located close to schools, shops and public transport, with good connections to the centre of Stockholm.

- I am pleased that we can expand our project and development rights portfolio in a prime residential location in Täby. The acquisition is in line with our strategy of developing homes and happy neighbourhoods where people have the highest quality of life, says Joachim Hallengren, President and CEO of Bonava.

Bonava will assume possession of the property once Täby Municipality has made a decision to initiate the zoning work, which is expected to take place in 2018. The first sod is expected to be turned in 2021, with the first residents scheduled to move in at the end of 2022.

Bonava is a leading residential development company in Northern Europe. Born out of NCC, Bonava has been creating homes and neighbourhoods since the 1930s. Today, Bonava has 1,400 employees and operates in Sweden, Finland, Denmark, Norway, Germany, St. Petersburg, Estonia and Latvia, with sales of SEK 13 billion. Bonava’s shares are listed on Nasdaq Stockholm.

For more information about us, visit: bonava.com (http://www.bonava.com/)

This information was prior to this release inside information and is information that Bonava 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 person set out above, at 1st December 2016 at 12.00 CET.

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Contacts

Bonava
Ann-Sofi Danielsson, CFO and Head of Investor Relations
ann-sofi.danielsson@bonava.com
Tel: +46 706 740 720
or
Bonava’s media line: +46 709 556 654
E-mail: ir@bonava.com

Contacts

Bonava
Ann-Sofi Danielsson, CFO and Head of Investor Relations
ann-sofi.danielsson@bonava.com
Tel: +46 706 740 720
or
Bonava’s media line: +46 709 556 654
E-mail: ir@bonava.com