SSM Holding AB (publ), the leading operator within residential development in the Stockholm region, is continuing to expand its operations by acquiring another project in the Municipality of Stockholm. The project will be managed in full by the company and SSM intends to develop approximately 260 cooperative apartments. The purchase price is a total of 500 MSEK. Construction start is planned in 2018 with occupancy during 2020.
SSM has acquired another project within the Municipality of Stockholm. The building is attractively located near public transport including the subway, commuter trains and buses.
The project is a purely cooperative apartment project covering about 24,000 square meters of BUA that SSM intends to develop into approximately 260 apartments. The project will be managed by SSM in full with construction planned to start in 2018 and occupancy in 2020.
The purchase price is a total of 500 MSEK. The acquisition is conditioned and the conditions are expected to be removed during the second quarter of 2017.
– SSM targets a customer group looking for functional, space-efficient homes in central locations with access to public transport. Our new project meets all three criteria and will therefore be a valuable addition to our portfolio, says Mattias Roos, President & CEO of SSM.
Following the acquisition, SSM will have close to 5,800 building rights in planning or construction phase.
The information in this press release is such, which SSM Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 07:30 CET on March 24, 2017.
For more information, please contact:
Mattias Roos, President & CEO
Ann-Charlotte Johansson, Chief Communications & IR Officer
Phone: + 46 (0)761-65 17 71
About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group — the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. SSM is the leading property developer in its niche within the Greater Stockholms-region and in March 2017, the company had close to 5,800 building permits in its portfolio. www.ssmlivinggroup.se