For more than a decade, Folkhem has decided to only build in wood - something that has proven successful. Folkhem is today an expert and leader in the development of large wooden house projects in the Stockholm region with a well-known and popular brand.

The flagship project Cederhusen is located in Hagastaden and, with its 245 solid wood homes, is one of the world's largest of its kind. Cederhusen has been named Building of the Year 2022, Stockholm Building of the Year 2023 and has received great international attention with visitors from all over the world.

"Folkhem has great potential and we want to expand geographically in Sweden and Norway with the sustainable development of wooden apartment buildings," says Biljana Pehrsson, CEO of Nordr Sweden.

The goal is to preserve and strengthen Folkhem's unique identity, which is reflected in elaborate architecture, a focus on craftsmanship and a strong spirit of innovation. Folkhem participates in several research collaborations and is at the forefront of the development of large-scale wooden house construction.

Folkhem has over 1,600 building rights in Stockholm, Sundbyberg and Uppsala that will be realized in the coming years. In parallel, new land acquisitions are planned.

"We see an interest in large wooden house projects in all large Nordic cities. I look forward to an increased investment in wooden houses together with Nordr, for leverage on innovation work and specialist knowledge, as well as opportunities for great collaborations in projects," says Anna Ervast Öberg, Head of Operations at Folkhem.

Nordr and Rikshem have owned Folkhem together since 2017, after the then Veidekke Bostad bought half of the shares in the JV company Boostad bostad.

"We have had a good development in the JV but now make the assessment that the next step for Folkhem is best taken by Nordr themselves continuing to run the business. The liquidation of this joint venture means that Rikshem continues to refine the business to run a long-term business with a focus on develop our existing portfolio of rental and community properties," says Anette Frumerie, CEO of Rikshem.

The deal will be examined by the Swedish Competition Authority, which is expected to announce during the month of October.