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Fastighets Receives Building Permit to Construct 600 New Condominiums in Copenhagen

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Jul 17 2015

Fastighets AB Balder has obtained a building permit for the construction of 600 new condominiums in Copenhagen covering 57,000 sqm of lettable area. Balder will invest a total of approximately SEK 1,900 million until the last quarter of 2018. The construction will commence in the third quarter of 2015.

The completion will take place in stages from the first quarter of 2017 to the last quarter of 2018. Approximately 160 apartments will be built in Ørestad Syd next to Balder´s existing construction and where Balder since many years owns apartments. The remaining apartments will be built in Amager overlooking Öresund.

Balder discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication on 15 July 2015 at 10.00 CEST.

Fastighets AB Balder is a listed real estate company which shall meet the needs of different customer groups for premises and housing through local support. Balder's real estate portfolio had a value of SEK 38,1 billion as of 31 March 2015. The Balder share is listed on Nasdaq Stockholm, Large Cap.

This information was brought to you by Cision http://news.cision.com

Source:

http://www.balder.se/

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