The zoning plan work is ongoing through active cooperation among construction companies, Stora Sköndals Framtidsutveckling and the City of Stockholm. The entire program area covers a total of approximately 4,500 apartments with related public services.

"It feels really great that we can bring with us our experience from fine urban development projects in both Gothenburg and Stockholm when we now have the opportunity to build new homes for many people in Stora Sköndal. Our ambition is to create an inclusive area where our tenants are happy and feel secure," says Hans Wallenstam, CEO of Wallenstam.

"We are very excited about the opportunity to participate in the design of the new district. We share Stiftelsen Stora Sköndal's clear vision for the development of the area towards becoming a new sustainable district and look forward to long-term co-operation," says Mathias Aronsson, Regional Director Stockholm and Uppsala and Vice CEO of Wallenstam.

 "We are very pleased and confident about the agreement with Wallenstam, which has extensive experience of urban development and in the construction and long-term management of rental apartments. Our shared view about sustainability, both social and environmental, means that we as a traditional foundation with strong values, feel confident that the land we are selling will be well managed," says Tomas Krywult, CEO, Stora Sköndals Framtidsutveckling, a subsidiary of Stiftelsen Stora Sköndal (The Stora Sköndal Foundation).

The acquisitions relate to parts of the property Stockholm Sköndal 1:26, which originate from agreements signed in 2020. When the zoning plan has gained legal force and property formation has taken place, three new properties will be created. In connection with these acquisitions, Wallenstam has also signed an agreement to purchase an additional area of land of approximately 60,000 sq m, which currently forms part of Stockholm Sköndal 1:8. This area of land will be taken into possession when property formation has taken place. All acquisitions will be carried out through company transactions for an agreed property value of about SEK 300 million in total.