In December 2014, Besqab and Järntorget (today part of the ALM Equity group) signed an agreement with Cementa AB regarding the acquisition of building rights in Lövholmen in Liljeholmsviken in Stockholm. The detailed planning work has been carried out in a half-owned JV, and Besqab's part of the deal includes approximately 300–400 building rights. The detailed plan is in the consultation stage and the start of production of a first stage is currently estimated to take place in 2027.
The current acquisition agreement with Cementa recently expired. Changed market conditions for housing development with reduced purchasing power, increased production costs and increased interest costs together with the project's complexity and long lead time have made it difficult to agree on terms for an extension.
Besqab makes the assessment that the contractual conditions are not sufficient to balance the project's risks and opportunities and has therefore decided not to participate in further negotiations on an extension of the acquisition agreement. The decision gives Besqab the opportunity to focus on other interesting acquisitions with the ambition of adding new profitable projects to the building rights portfolio with potential production starts in the coming years. Besqab works strategically for an attractive building rights portfolio with a well-balanced mix of projects to ensure good risk spreading, low liquidity burden and redundancy for production starts.