As of the interim report for the fourth quarter of 2018, SSM Holding AB (publ) will apply a new accounting principle for housing development through housing associations. The new accounting principle means that housing associations will be included in SSM’s consolidated accounts and that the profit or loss from completed projects will be reported at the time when the individual purchaser of a cooperative apartment takes possession of the unit. These changes do not affect the company’s project development process or financial targets.

On January 31, the Stockholm City Planning Committee decided to continue planning work to develop 1,500 homes at Telefonplan including homes in the skyscrapers of SSM’s Tellus Towers project. Tellus Towers is an important part of a greater vision and investment in the Telefonplan area that includes covering the subway station and constructing new station buildings. Some 18,000 people have already shown interest in Tellus Towers, which will offer 1,200 homes with various types of tenancy. A city plan is expected to be adopted in Q4 2020.

Following negotiations, SSM and Upland Securities have decided to terminate the Clustret project in Järfälla....

In 2018, SSM adjusted its business strategy and housing offering to meet the altered conditions of the housing market in Stockholm and to strengthen its offering to younger buyers and single-person households. The adjustment resulted in clear growth within rental apartments and a sharper focus on an increasingly optimized and affordable housing offering. SSM’s flexible portfolio of building rights has enabled rapid adaptation of both its strategy and products. During 2018, production started in two rental projects with a total of 272 rental apartments and at year-end, rental projects accounted for 43.8 percent of the company’s building rights under development. The sales rate for cooperative apartments in ongoing production was 96.9 percent. At the end of the first quarter 2019, SSM will relaunch redesigned apartments in the 1.3 to 2.3 MSEK price range in the Täby Market and Elverket i Nacka projects.