Notable progress is being made in the planning of the Color Factory Area in Tikkurila, Vantaa in Finland.

Deas to develop a new urban area in Vantaa

Finland Finland — Deas Asset Management has been selected as the partner by PPG Tikkurila for the planning and development of an exciting new urban area in Vantaa.
TOP 4 Nordic
Johan Gyllberg.
Nordic Nordic —
Global hotel giant heads to Kvarnholmen in 20-year deal
The deteriorating outlook is being driven by a combination of stricter climate regulations, growing pressure from capital markets and increasing tenant demand for sustainable premises.
Nordic Nordic —
German investors warn of energy crisis in property portfolios as technology emerges as lifeline
Carl-Adam von Schéele.
Nordic Nordic —
Urban Partners launches first-of-its-kind fund to accelerate urban regeneration
Housing is singled out as the single most important factor behind the differences between European capitals. For families who rent, housing costs are by far the largest expense item (the people in the image have nothing to do with the text).
Nordic Nordic —
Stockholm among Europe’s most affordable capitals despite high housing costs
According to the latest numbers published by MSCI, european commercial real estate showed negative returns in Q1 2023 compared with the preceding three months.

European commercial real estate showed negative returns in Q1

Nordic — MSCI’s Europe Quarterly Property Index shows that commercial real estate investments generated negative total returns of -1.1 percent in the first quarter this year compared with the preceding three months. That created a negative total return of -7.4 percent in the last year.
Anna Nyberg.

Anna Nyberg resigns from CEO position at Ica Real Estate

Sweden Sweden — Anna Nyberg, CEO of Ica Real Estate and a member of Ica Gruppen’s executive management, has decided to leave Ica Gruppen effective 30 June 2023. Mattias Lundgren, CFO of Ica Real Estate, will take over as interim CEO on 19 June 2023.
Denmark.

Novo Nordisk invest EUR 2.1 billion in expansion of Danish manufacturing facilities

Denmark Denmark — Novo Nordisk plans to invest DKK 15.9 billion (approximately EUR 2.1 billion) starting in 2023 to expand an existing Active Pharmaceutical Ingredient (API) production facility in Denmark for the future portfolio within serious chronic diseases.
Baard Schumann.

After the Bonava deal – here is what Union Residential Development wants to invest in next

Norway Norway — Union Residential Development takes a big step by acquiring Bonava’s Norwegian portfolio and operations. Baard Schumann, Partner and CEO of Union Residential Development, tells Nordic Property News about the acquisition, what new investments they are looking for and when they hope to have the next deal done.
The CapMan office in Stockholm.

Capman grows its Stockholm team

Sweden Sweden — Capman Real Estate grows its team in Stockholm as Tommy Lindblom and Mathias Ljungberg join as Investment Directors.

They increase their rental income the most in Q1 2023

Nordic — Nordic Property News has taken a closer look at the listed property companies' rental income in Q1 2023 to find out which companies increased their income the most compared to Q1 2022. Here is the full list.
Köksmästaren 2 and 3.

Revelop acquires industrial assets in Stockholm and Gothenburg

Sweden Sweden — The Swedish real estate fund manager Revelop acquires two fully let industrial assets in Stockholm and Gothenburg. The assets have a combined total lettable area of 8,800 sqm.
Peter Wallin, CEO of Bonava.

How Bonava wants to invest the capital from the Norwegian divestment

Nordic — Bonava sells its operations in Norway to Union Residential Development and with it leaves the Norwegian market completely. CEO Peter Wallin tells Nordic Property News how they arrived at the decision, how they will use the capital that is freed up and how Bonava views its other markets.
Victor Persson, CEO of Doxa, and Ola Serneke, founder of Serneke and CEO of Serneke Invest.

Doxa calls for compulsory redemption – Serneke applies for delisting

Sweden Sweden — Doxa, which after completion of the public takeover bid holds more than 90 per cent (excluding the shares owned by the company itself), of the shares and votes in Serneke Group has called for compulsory redemption of the remaining shares in Serneke.
Jacob de Lichtenberg.

The segment where Niam's sees the best opportunities on the Danish market

Denmark Denmark — Niam makes a change in its Danish leadership as Jacob de Lichtenberg becomes new Country Manager while Michael Berthelsen transitions into a new role as Senior Director. Jacob de Lichtenberg tells Nordic Property News about his new role and where Niam sees opportunities on the Danish market going forward.
Bonava.

Bonava divests Norwegian operations to Union Residential Development

Norway Norway — Bonava has reached an agreement to divest its Norwegian operations to Union Residential Development, a Norwegian real estate fund. The purchase price is SEK 1.5 billion (approximately EUR 129 million) and the transaction is expected to be finalised no later than the third quarter of 2023. The deal is pending approval from Norwegian authorities.
Blackrock expands its Nordic portfolio.

Blackrock buys logistics property in Sweden

Sweden Sweden — Hökerum Fastigheter is divesting a state-of-the-art logistics property in Skillingaryd, Vaggeryd municipality. The buyer is Blackrock and the transaction takes place through the transfer of the property-owning company.
The political parties Moderaterna, Kristdemokraterna and Demokraterna propose that the city should look at the possibilities of acquiring the property where the Russian consulate is located today. Axel Josefson (M) tells more about the suggestion.

Politicians in Gothenburg want the city to acquire the Russian Consulate property

Sweden Sweden — According to the Tass news agency, Russia has announced that the Russian consulate in Gothenburg will be closed from September 1. Now the political parties D, M and KD, who are part of the opposition, want the city management office to be tasked with investigating the possibilities of acquiring the land and property where the Russian consulate is housed today. Axel Josefson, opposition councilor and the municipal board's 2nd vice chairman, tells Nordic Property News more about the proposal and what ambitions they have for the property if the acquisition can be carried out.
Skanska to build new building in Lund.

Skanska builds office for Vectura in Lund

Sweden Sweden — Skanska has signed a contract with Vectura Properties to construct a building for office and research in Lund, Sweden. The contract is worth about SEK 650 million (approximately EUR 56 million).
Tom Leahy, executive director of MSCI Research.

Listed Swedish companies massive sales: 2.9 billion euros

Sweden Sweden — Investment activity in Swedish commercial properties has collapsed in the past year as companies have had difficulty adapting to higher interest rates. The latest statistics from MSCI show that the listed companies together have sold properties for approximately 3.1 billion dollars, close to 2.9 billion euros, so far in 2023. In an exclusive interview with Nordic Property News, Tom Leahy, executive director of MSCI Research, talks about the dramatic developments in the Swedish real estate market and what the future may hold.
The largest deals in the Nordics, during May.

May 2023: The Nordic top transactions

Nordic — Nordic Property News lists the largest transactions in the Nordics during May, 2023.
Vannkunsten syd.

Veidekke gets residential assignment in Oslo area

Norway Norway — Oslo S Utvikling has awarded Veidekke the commission to build the environmentally certified residential project Vannkunsten Syd in Bjørvika in Oslo. The contract is a design and build contract valued at NOK 476 million excluding VAT.
Drömfabriken.

NCC to construct new meeting place in Västerås

Sweden Sweden — NCC has been commissioned by the City of Västerås to construct Drömfabriken in Skultuna, Västerås. Drömfabriken will be a meeting place with a new school, library and after-school club.
Jannika Gylling.

Schroders appoints Asset Manager in Finland

Finland Finland — Schroders Capital announces two key appointments to its Nordics real estate team. Johan Persson has been promoted to Transaction Manager in Stockholm, while Jannika Gylling joins as Asset Manager in Helsinki, Finland.
On the left is the land designation area within the property Kristinebergs Slott 11. NCC's area for offices is marked with a red rectangle and Selvaag's for housing with a black rectangle. On the right is the block plan for the entire Hornsberg block.

The construction giant's next office project – 9,000 square meters on vacant land

Sweden Sweden — A major expansion of the vacant area at Hornsberg's old bus depot is underway. Selvaag Bolig is proposed to receive a land reference for the construction of housing and NCC for the construction of 9,000 square meters of offices, both land references where awarded in great competition.
Maarit Toivanen and Erik Toivanen.

Conficap is ready for the next generation to take over

Finland Finland — The CEO chair at Conficap gets passed down to the next generations as Erik Toivanen succeeds Maarit Toivanen in the fall. The duo tells Nordic Property News about the change, their new roles and about what is next for Conficap.
Eva Landén, CEO of Corem.

Corem signs lease contract in New York

Sweden Sweden — Corem has signed a lease contract with Patis Bakery for approximately 190 sq.m. of the ground floor in the project property 28&7 in New York. The tenant, a bakery chain, will move in during the first quarter of 2024 and the lease term is 15 years.
S&P downgrades SBB.

S&P lowers SBB's credit rating again

Sweden Sweden — The credit rating agency Standard & Poor's downgrades its long-term credit rating on SBB once again, this time to BB- with a negative outlook, from BB+. At the same time, the credit rating for the hybrid bonds is also lowered to B- from B+, while the short-term credit rating B is maintained.

Evli's real estate development fund buys property from Edita Group

Finland Finland — Edita Group Oyj has divested its property in Kuninkaantammi, Helsinki, to EAB Value Added Fund III Ky, a real estate development fund managed by Evli.