SSM sells Bromma Square housing project

SSM Holding AB (publ) has sold its share in the Bromma Square housing project, which includes 355 planned cooperative apartments, to joint venture partner Profi Fastigheter. The sale is the result of the evaluation of the project that was initiated in the third quarter 2019. The transaction will have a marginal impact on SSM’s results and the proceeds from the sale will have a positive impact on cash flow by 42.9 MSEK during the first quarter 2020.

SSM has sold its share of the Bromma Square housing project (Bordduken 7 and Linneduken 5) to joint venture partner Profi Fastigheter.

Within the scope of the Bromma Square project, the plan was to develop about 355 cooperative apartments with a total floor space of 18,850 m2. The project had been under evaluation since the third quarter 2019. The decision to sell the project was based on the conclusion that it would be more attractive to further develop the existing commercial space than to build housing.

The sale will have a marginal effect on SSM’s results and proceeds from the sale will have a positive impact on cash flow by 42.9 MSEK during the first quarter 2020.

This information is such information that SSM Holding AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted, through the contact person below, for publication on December 20, 2019 at 15:15 CET.
 

For more information, please contact:
Ann-Charlotte Johansson
EVP Communications & IR

Email: ann-charlotte.johansson@ssmliving.se
Phone: +46 761 65 17 71
  

About SSM Holding AB (publ) 
SSM produces functional smart and affordable housing with attractive communal areas, close to public transport in close proximity to the company´s target group – tomorrow’s urbanites. The company´s vision is a housing market with room for as many people as possible. SSM is a leading housing developer in its niche within the Stockholm area, and in September 2019, approximately 4,500 building rights are included in the company´s project portfolio. SSM was listed on Nasdaq Stockholm´s main list April 6, 2017. www.ssmlivinggroup.com