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2016-05-12

Magnolia Bostad AB: 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.

For more information, please contact:
Fredrik Lidjan, CEO
+46 70 223 43 47, fredrik.lidjan@magnoliabostad.se

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. More information is available at
www.magnoliabostad.se

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http://news.cision.com/magnolia-bostad-ab/r/magnolia-bostad-signs-land-a...
http://mb.cision.com/Main/12686/2008046/515055.pdf

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