Magnolia Bostad has signed an agreement with ICA Fastigheter for the acquisition of land in Enköping for the development of around 190 residential units with about 12,000 m2 of GFA.

The property has a zoning plan in force and the acquisition is through a corporate transaction. A turnkey contract has been signed with ByggPartner and construction is expected to start during Q2 2021. The buildings will be certified in accordance with the Swedish Green Building Council's silver certification. ICA Fastigheter is developing a supermarket in one of the blocks.

The area has a very attractive location close to the centre of Enköping and will be completely transformed into a new attractive district. Through this new district, Enköping's city centre will expand naturally and pleasantly.

"We are very happy to be developing residential units in Enköping which are located in the middle of the expanding region of Stockholm-Mälardalen. The location in Enköping is very good and we look forward to establishing ourselves in what is often called Sweden's closest city," says Björn Bergman, Eastern Regional Director at Magnolia Bostad.

For more information, please contact:
Björn Bergman, Eastern Regional Director
+46 70 968 15 82, bjorn.bergman@magnoliabostad.se

Marita Björk, IR and Financial Media Manager
+46 72 720 00 06, marita.bjork@magnoliabostad.se

Magnolia Bostad AB, CIN 556797-7078, is a leading urban developer that develops new residential properties primarily rental apartments but also tenant-owned apartments, community service properties and hotels, in attractive locations in Sweden's growth areas and major cities. Housing is being developed both for sale and for self-management. Our work is based on a holistic approach where the operations are conducted in a way that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.com 

https://news.cision.com/magnolia-bostad-ab/r/magnolia-bostad-acquires-land-in-enkoping,c3317688

https://mb.cision.com/Main/12686/3317688/1395946.pdf

https://news.cision.com/magnolia-bostad-ab/i/representation-ica-fastigheter-och-liljewalls-arkitekter,c2895459

(c) 2021 Cision. All rights reserved., source Press Releases - English