ARTICLES TAGGED WITH "Bonava"

Bonava: "Joint ventures will increase significantly"

Sweden Sweden — The number of collaborations and joint ventures will steadily increase, says regional manager Carmtih Mårtensson at Bonava. During Thursday, they were able to disclose their first endeavor with Obos. As early as next year, they will jointly undertake to build 200 homes in the emerging Södra Änggården district in Gothenburg. But building in the city is far from optimal, he says.

Bonava CEO: "Recovery can take time"

Nordic — Bonava sees good opportunities to gradually increase production starts in the second half of 2024 and 2025. This is what CEO Peter Wallin says in the report for the second quarter. But there is one market that looks particularly bright.

Bonava sells housing project

Nordic — Bonava is selling a project of 89 rental apartments in Düsseldorf, Germany.

Bonava appoints Jon Johnsson as new CFO

Nordic — Jon Johnsson has been appointed Bonava's new CFO and a member of the Executive Management Group, and will take office not later than 2 January 2025.

Peter Wallin on Bonava's investment in Germany: "Germans are more forward-thinking"

Sweden Sweden — Bonava is, as we learned last week, starting production of around 180 homes in Germany. It is the regions of Berlin, Rhine-Main, North Rhine-Westphalia and Saxony that will be the stage for the current production starts, which are expected to be completed in 2025 and 2026. Nordic Property News has spoken to CEO Peter Wallin, who tells us more about the German investment.

Peter Wallin: "Bonava must be very active in the market"

Sweden Sweden — Bonava's president and CEO, Peter Wallin, spoke, on Thursday when delivering the interim report for the fourth quarter, about a gradually stabilized market with increased activity. Examples of this are, said the CEO, more speculators on viewings, a greater number of searches online and, as a result, more bookings and sales. “It is a little too early to talk about a turnaround and change in the entire market, but it is clear that it has stabilized and that the signs of an improvement are more concrete now,” says Wallin.

CFO Lars Granlöf leaves Bonava – new interim CFO appointed

Nordic — In connection with the implementation of Bonava's updated business plan for 2024 and onwards, Bonava's CEO Peter Wallin and CFO Lars Granlöf have agreed that Bonava needs a CFO with somewhat different competence and experience. Therefore, Lars Granlöf is leaving the role as CFO of Bonava. At the same time, Lars Ingman has been appointed as interim CFO. The change takes effect immediately.

Former Bonava CEO new head of Svevia

Sweden Sweden — Joachim Hallengren has been appointed president and CEO of Svevia AB after having been appointed since June 28, 2023. He took up his new position on January 1, 2024.

These are Union Residential Development's Swedish ambitions

Nordic — Just months after the acquisition of Bonava's Norwegian portfolio, Union Residential Development follows it up by buying 70 percent of Swedish Kynningsrud Bostäder. Per Martin Eriksson, Sweden manager for Union Residential Development, reveals what the investment plans are going forward.

Relief at Bonava as exit from Russia is completed: "Now we can focus on other things"

Nordic — It took 609 days between the decision to sell Bonava's subsidiary in St. Petersburg – until earlier this week they were able to announce that the deal had closed. And the tours have been many. Group Head of Press and Public Affairs Fredrik Hammarbäck tells Nordic Property News that the company now feels relieved to finally be able to focus on other things.

Bonava completes Russian divestment

Sweden Sweden — Bonava has completed the divestment of its operations in St. Petersburg to the Armenian company Star Development LLC. The transaction amounting to EUR 50 M has been completed and Bonava has received payment. This entails a positive result of SEK 564 M after transaction fees, which will be reported in the third quarter report. With this transaction, Bonava has concluded all operations in Russia.

Bonava takes new step towards divestment of St. Petersburg operations

Sweden Sweden — Bonava has signed an agreement for the divestment of its St. Petersburg operations with the Armenian company Star Development LLC. The transaction amounts to approximately EUR 50 M and Bonava has received the payment. The buyer has received acquisition permit from the special committee established to oversee business transfers. Closing of the divestment is subject to the approval of the Russian competition authority, which is expected in the fourth quarter of 2023.

Bonava's Peter Wallin calm despite German market turmoil

Sweden Sweden — Bonava sells apartment stock and builds new ones in the Cologne area. This at the same time as the cancellations in housing construction increase to a new peak level and the uncertainty in the market is enormous, according to experts. But Bonava's CEO, Peter Wallin, still believes in Germany: "It is a large and multifaceted market that we know well."

Bonava divests residential units in Germany

Sweden Sweden — Bonava is selling 176 rental apartments in Cologne, Germany, to a fund of Bayer pension schemes. In addition, production of 38 homes for consumers is being started in the same neighbourhood.

How Bonava wants to invest the capital from the Norwegian divestment

Nordic — Bonava sells its operations in Norway to Union Residential Development and with it leaves the Norwegian market completely. CEO Peter Wallin tells Nordic Property News how they arrived at the decision, how they will use the capital that is freed up and how Bonava views its other markets.

Bonava divests Norwegian operations to Union Residential Development

Norway Norway — Bonava has reached an agreement to divest its Norwegian operations to Union Residential Development, a Norwegian real estate fund. The purchase price is SEK 1.5 billion (approximately EUR 129 million) and the transaction is expected to be finalised no later than the third quarter of 2023. The deal is pending approval from Norwegian authorities.

Bonava Makes New Attempt to Divest Russian Subsidiaries

Nordic — Bonava intends to divest its subsidiaries in St. Petersburg, and has reached an agreement with buyer RBI Group. Completion of the divestment is contingent on approval from authorities.

Pre-purchased Homes Can Become a Problem for Housing Developers

Nordic — The housing developers suffer greatly from the pending purchase willingness of households when it comes to new construction housing. It is difficult to raise the level of pre-purchased homes, although most people believe that there are still few unsold apartments at completion. But for those who signed up for pre-sale, the situation now looks radically different, where there are now reports that the buyers are trying to pull out of sale. Nordic Property News has taken a closer look at how big the exposure is for the companies with their homes that are under production.

Bonava's CEO on the Challenging Market

Nordic — Still major challenges, but improvements are visible in some of the regions' portfolios. That's CEO Peter Wallin's words about this year's first quarterly report for Bonava can be summed up. "The results look good in terms of margins, with a few exceptions. The machinery works."

Bonava Sells Apartments to EQ

Finland Finland — Bonava is selling 75 rental apartments in Turku to the investor EQ. The housing units are expected to be completed and handed over to the customer in the second quarter of 2024.

Bonava Writes Down the NAV of the Operations in St. Petersburg

Sweden Sweden — Write-down of the net asset value of the operations in St. Petersburg in the fourth quarter 2022 for Bonava.

Bonava Sells Apartments in Germany

Sweden Sweden — Bonava is selling 94 rental apartments in Leipzig and 60 rental apartments in Dusseldorf, Germany, to the investor Industria. The transaction was closed during end of December 2022 and the amount is EUR 50 million. The first units are scheduled for completion and handover to customers in the second half of 2025.

Bonava Divests Russian Operations

Nordic — Bonava has entered into an agreement to divest Bonava’s subsidiaries in Russia for a purchase price of approximately EUR 98 M (SEK 1.1 Bn). The net financial impact amounts to approximately SEK -0.1 to -0.3 Bn and will be recognised when the transaction is finalised which is expected to be within six months.

Bonava Makes Residential Divestment to Taaleri

Finland Finland — Bonava is selling 313 sustainable rental apartments in the Helsinki region, Finland, to the investor Taaleri. The transaction includes three rental housing projects and amounts to EUR 85 million.

Bonava Acquires Approximately 235 Building Rights in Oslo

Norway Norway — Bonava has signed an agreement for the acquisition of approximately 12,000 square metres of land in the Jessheim district of Oslo, with plans to develop approximately 235 Nordic Swan ecolabelled housing units. The investment also includes approximately 4,900 square metres intended for commercial premises. The seller is a privately-owned residential developer and the transaction totals NOK 65 million.