Coffee Break

Magnolia Bostad signs land allotment agreement with Örebro Municipality

In May 2015, Magnolia Bostad was awarded a land allocation in the new neighbourhood Södra Ladugårdsängen in Örebro. Now that the land allotment agreement is in place, the project’s next steps –building permits and construction start – can be initiated. The project involves approximately 220 rental apartments and construction is scheduled to start in the second half of 2016.

Örebro Municipality applies a process based on flexible zoning plans, whereby the municipality sets up a requirements specification for the new neighbourhoods based on the municipality’s quality program. Property developers are subsequently invited to participate in a pilot study for the project. The pilot study results in a reservation agreement when the property developer has met the requirements set for the project by the municipality.

Magnolia Bostad develops efficient, attractive and functional residential properties, including rental apartments, tenant-owned apartments and hotels, in attractive locations primarily in Sweden’s growth areas. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad’s share (MAG) is listed on Nasdaq First North. Erik Penser Bank is the Certified Adviser for the Company.