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2016-06-07

Magnolia Bostad AB: Magnolia Bostad wins land allotment competition in Åkersberga, Österåker Municipality

Magnolia Bostad has won a land allotment in the vicinity of Åkersberga
centrum. The company will develop about 300 space effective rental
apartments on the property.

The municipality is planning a new residential area two kilometres
west of Åkersberga centrum, with about 500 homes, a retirement home,
a school, shops and office premises. The property is situated next to
the Österåker golf club, with the Roslagsbanan light railway within
easy reach. Magnolia Bostad will develop approximately 300 space
effective one- and two-room apartments in the area.

Local planning work is underway and the local plan is expected to be
approved in 2017. Construction is estimated be initiated during the
second half of 2017. The agreement is conditional upon the municipal
council's approval of the land allotment.

Magnolia Bostad's winning proposal was developed in cooperation with
the architects LINK arkitektur.

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-wins-land-al...
http://mb.cision.com/Main/12686/2023031/524699.pdf

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