News | Nordic Property News

NCC's Våghuset and in the background Brick Studios, both in central Gothenburg. CEO Tomas Carlsson.

NCC flagship projects remains unsold: "We'll do anything – but not at any price"

Nordic — Recently NCC presented its latest report. In it there were both flashes of light and some dark clouds. CEO Tomas Carlsson believes that a certain distance is required from the individual report in order to put things in context. But it will be particularly difficult in the commercial segment ahead.

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David Mindus, CEO of Sagax.

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Sagax acquires seven properties

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Areim exec exits the company

Henrik Bastman.

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Following the acquisitions in Finland – Storebrand Real Estate looks at new opportunities

Louise Richnau and Stefan Dahlbo.

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Prominent duo proposed to Cibus' board

SBB.

SBB rejects acceleration notice from bondholder

Sweden — SBB rejects purported and ineffective acceleration notice from a bondholder regarding Eurobonds issued under its EMTN programme.

NCC starts new business area for the green transition and updates its financial targets.

NCC starts new business area

Sweden — Yesterday, NCC presented updated financial targets for operations and the news that NCC’s resources for projects driven by the green industrial transition will be collected in a separate business area.

Peab.

Peab to build cold storage unit for Evolv

Sweden — Peab has been commissioned to build a cold storage unit in Hyllinge northeast of Helsingborg. The customer is Evolv Frysen 1 AB and the contract is worth SEK 111 million.

Prof. Dr. Thomas Beyerle, Group Head of Research at Catella, and housing in Gothenburg, Sweden.

Yield projections for the Nordic housing markets

Nordic — Both housing rents and housing yields are trending upwards in Europe, according to Catella’s European Residential Market Overview for Q3 2023. Prof. Dr. Thomas Beyerle, Group Head of Research at Catella, tells Nordic Property News about the projections for yields in the Nordics going forward.

Sverker Källgården.

Cibus increases the result in Källgården's last report

Nordic — On Tuesday, Cibus presented its interim report for the third quarter of 2023. The company was able to show an increased profit from property management during the third quarter, compared to the same period the year before. Leaving CEO Sverker Källgårdens submits his last interim report in a positive spirit: "I have a bright view of Cibu's future."

Peab builds more apartments in Umeå.

Peab to add more residential units in Umeå

Sweden — Peab has already completed construction of seven apartment buildings at Mariehöjd in Umeå and is now beginning on the eighth stage which will comprise 79 tenant-owner apartments and two common areas. The customer is Mariehöjd Produktion and the contract is worth SEK 133 million.

David Mindus, CEO of Sagax.

Sagax invests SEK 645 million – adds Finnish property to portfolio

Finland — On 26 October 2023, Sagax announced that the company had agreed to acquire 47 properties in France for SEK 930 million and that the investment, under certain conditions, could be increased by SEK 485 million. The conditions have now been met.

Fredrik Palmgren.

Leaves Savills – starts new company

Sweden — Fredrik Palmgren leaves Savills for a new venture in project development and starts his own company Dopo. He tells Nordic Property News about the business, the company's goals, which segments and markets the company will be active in and shares his view on the market situation for project development.

DEAS makes divestment in Oulu

Finland — DEAS fund sold office property in Oulu DEAS Property Fund Finland I has sold an office property in Oulu to a local investor.

The top transactions in the Nordics in October.

October 2023: The Nordic top transactions

Nordic — Nordic Property News presents the largest transactions on the Nordic property market in October, 2023.

SATO develops the urban environment of East Helsinki.

Sato develops major Helsinki area

Finland — Sato is involved in the development of the future of the Itäkeskus area (East Helsinki) as part of the project developer group.

Catena makes changes in regional divisions

Sweden — Catena will redefine its regional divisions as of 1 January 2024 and, thereby, update its segment reporting.

Jimmy Bengtsson, CEO of Veidekke.

Veidekke reduces its Swedish workforce by 60 persons

Sweden — CEO Jimmy Bengtsson: "The market downturn has long been apparent in the Swedish residential segment, and we will therefore be implementing an extensive reorganisation in Sweden in Q4."

Leaves Skanska for senior position at Niam

Sweden — Niam strengthens the team with a new senior hire.

Sthlm 04 and Jan Odelstam.

Skanska's future plans for its own portfolio

Sweden — Skanska adds a new large office property to its own book when Sthlm 04 is acquired for SEK 830 million. Jan Odelstam, business unit manager for Commercial Development Nordic at Skanska, tells Nordic Property News about the work of building Skanska's own portfolio, how the company views future acquisitions and why the current situation on the transaction market does not affect the work with the own portfolio.

YIT plans changes in the operating model of the Business Premises segment

Finland — YIT plans changes in the operating model of the Business Premises segment and considers adapting operations in Finland.

The Fokus Skärholmen project in southern Stockholm is expected to generate 4,000 new homes.

Klövern set to develop new homes in Stockholm

Sweden — This year, Klövern has plans to start at least 800 homes in Kista. Now it may soon become relevant for additional housing in southern Stockholm. Nordic Property News takes a closer look at the situation.

Entra.

Entra renews lease contract in central Oslo

Norway — Renewed and extended lease contract for 8,400 sqm in Biskop Gunnerus gate 14 in Oslo.

Veidekke.

Veidekke to add more work on residential project in Bjørvika

Norway — After very good residential sales for Mariakvartalet in Bjørvika, Oslo S Utvikling (OSU) has commissioned Veidekke to complete the basement of the environmentally certified residential project. The value of the contract is NOK 116 million.

Why invest in real estate with Invesco

Nordic — Real estate investments have the ability to offer diversification of an overall portfolio for investors who have traditionally invested solely in equities and bonds. But to get the most out of your real estate investments you need to be able to avoid the pitfalls. By investing with a manager who has extensive local experience combined with global reach is one avenue. A manager like Invesco Real Estate who has 40 years’ experience in real estate and whose sole focus it is to seek high quality investments in key real estate markets globally combined with driving performance for its investors is what its 180 on-the-ground team seek to do.

Rita Berg Hansen.

This is how Heimstaden will succeed with massive sales plan

Nordic — Recently, it was announced that Heimstadens Bostads plans to sell approximately 25,000 homes from the stock in five different markets. All in all, it should bring in SEK 85 billion (EUR 7.2 billion) for the company. Rita Berg Hansen has now been tasked with leading the work on the sales challenges expected in the coming years.

Markus Myllymäki, CEO of Toivo Group.

Toivo Group's special unit signs project agreement

Finland — Real Estate Special Situations Unit of Toivo Group signs its second project agreement.

Skanska builds student housing in Oslo, Norway, for NOK 513M, about SEK 520M.

Skanska to build new student housing in Oslo

Norway — Skanska has signed a contract with the Student Welfare Organization in Oslo (SiO) to build new student housing. The contract is worth NOK 513M, about SEK 520M.

Balder adds key-player from Unibail-Rodamco-Westifeld

Sweden — Balder strengthens the team with new Head of Leasing for retail.