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Aros Bostadsutveckling AB: Aros Bostad acquires its first residential development project in Upplands-Bro

Aros Bostadsutveckling AB publ ("Aros Bostad") has signed an agreement regarding acquisition of building rights, corresponding to 33 terraced houses, within the residential development area Bro Mälarstad. The terraced houses will be Aros Bostad's first development project in Upplands-Bro. The seller is a joint venture between Magnolia Bostad and Heimstaden.

Bro Mälarstad is a new city district in Upplands-Bro, which will comprise c. 2,500 homes, schools and services, located close to the nature. There will be a marina, beach walk and bathing site at the shore of Mälaren. A pedestrian and bicycle path connects the residential area with Bro tram station area.

The building rights, which are acquired by Aros Bostad, are part of the second phase of the development. The construction start is estimated for the first quarter of 2022, with the first homes completed for move-in during the first quarter of 2023. The seller of the property Brogård 1:174 is a joint venture between Magnolia Bostad and Heimstaden, which will remain in the area with own residential developments. The zoning plan for the area is approved.

Aros Bostad plans for 33 terraced houses with wooden frames, in line with the company's concept for sustainable and affordable homes of good quality.

Magnus Andersson, CEO Aros Bostad:
"We are happy to add yet another attractive municipality within Greater Stockholm to Aros Bostad's map for development projects. The acquisition in Upplands-Bro is part of our expansion within industrially built wooden houses, where we focus on maximum quality to a lower cost."  

The Company's class A and B preference shares are listed on Nasdaq First North Growth Market. Certified Adviser is Erik Penser Bank. Financial information at www.arosbostad.se/investerare

Source: Cision
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