Serneke Group AB (publ) and Fastighets AB Balder are forming a joint venture development company to continue their collaboration in the Karlastaden district. The joint venture company will develop three buildings in the district, comprising a total 45,000 square meters GFA and approximately 450 apartments. Through the joint company, Serneke and Balder will develop three more of the total of eight buildings in the emerging Karlastaden district in the Lindholmen area of Gothenburg.

The three buildings encompass about 45,000 square meters and, according to initial plans, will have between seven and 27 floors, containing mostly housing but also commercial spaces, retail, and offices. The buildings will include an estimated 450 tenant-owned apartments.