PKA and FB Gruppen Develops 2000 Apartments on Grønttorvet

Denmark — The plan to transform Grønttorvet in Valby has now become reality and Copenhagen will get a new district, New Valby with 4000 citizens, shops, childcare and its own park.<br /> The building developer FB Gruppen (Fokus på Boliger) stands behind the project worth at least DKK 5 billion (€670M), together with pension company PKA that has purchased the area of approximately 160,000 sqm.

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“We get the opportunity to create a mixed district with apartments with different tenures. At the same time it will be a green district – there will be a 19,000 sqm park in the middle”, says Hans-Bo Hyldig, adm. Director and co-owner in FB Gruppen.

The plan includes the right to 234,000 sqm distributed on about 2,000 apartments, more shops, some cafés, two childcare centers as well as office spaces.

A part of the construction is previously purchased by PKA, which also provides financing for other buildings that FB Gruppen develops and then divests, either as owner-occupied or as rental housing.

“PKA has previously had a good cooperation with FB Gruppen and Ny Valby is an exciting project with great perspectives. With this agreement, we are helping to address the challenges of homelessness in Copenhagen and ensure good, stable returns for our members' pensions “ says property manager Nikolaj Stampe from PKA.