Investors

"During Q3, we completed 725 residential units and since the beginning of the year, we have completed over 1,500 residencies. Given our planned completions, we are hopeful that we will reach the milestone during the year of 15,000 completed residencies since the company started in 2009. Since the beginning of the year, we have sold two projects through forward funding, one project in Kista for the construction of 310 residential units and one in Tyresö for the construction of 140 residencies. The project in Kista is in full production and the project in Tyresö is now starting construction after a building permit recently came into force.

During the period, we signed an agreement for an extension of our revolving credit facility, with a term in line with our existing bond duration. Combined with the bond refinancing in Q1, this means that the average capital commitment period is 2.3 years compared to 0.8 years as of 31 December 2024. This contributes to increased financial flexibility and enables us to fully focus on our core business.

Now that the Riksbank (Swedish Central Bank) has lowered the base rate to 1.75% in September to support the economy, it improves financing conditions in the market, which leads to a greater willingness to invest in housing development, and our rental segment. Our building rights portfolio currently consists of just over 9,000 building rights, of which around 60% have completed zoning plans. The building rights portfolio is concentrated in metropolitan areas, where we are ready to start several new projects."

Johan Tengelin,
CEO

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