Bonava sells housing project in Denmark

Regulatory News:

Bonava has sold a housing project in Copenhagen, Denmark, to the property company Balder for approximately SEK 224 M. The project consists of 74 rental apartments.

- This represents our first sale to an investor in Denmark and is aligned with our strategy to develop additional rental projects and investor sales, says Joachim Hallengren, President and CEO of Bonava.

The project, called Fælledudsigten II, has a combined living area of approximately 7,200 sqm and is located close to schools, public transport and green areas. Bonava is also in charge of the construction of two conjoined buildings, 10 and 13 stories tall, and thus controls the entire value chain from development and production to sales.

The project is scheduled to be completed and recognized in profit in the fourth quarter of 2017.

Bonava is a leading residential development company in Northern Europe. Born out of NCC, Bonava has been creating homes and neighborhoods 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: bonava.com (http://www.bonava.com/)

This information was brought to you by Cision http://news.cision.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20160912005557/en/