Exchanging land and receiving SEK 472 Million

18/06/2024, 09:11

Jan-Erik Hellman. Imagesource: ICA gruppen.

ICA Fastigheter and the City of Stockholm have exchanged land. ICA Fastigheter is divesting land for SEK 843 million and acquiring land for SEK 371 million, with a net cash flow effect of SEK 472 million.

Anna Broberg

In 2013, ICA Fastigheter signed a land allocation and letter of intent agreement regarding property regulation with the City of Stockholm concerning the divestment and acquisition of land in Årsta. The letter of intent means that ICA Fastigheter acquires additional land adjacent to Postgården 1 and divests land within Postgården 1 to the City of Stockholm.

“We are very pleased to now finally be able to take the next step in the development of the new ICA store with adjacent retail and services. The store will form the heart of the new district in Årsta and will become an important hub and a safe meeting place for residents and visitors,” says Jan-Erik Hellman, CEO of ICA Fastigheter.

ICA Fastigheter plans for a grocery store on the ground floor and 300 apartments above the store through three-dimensional property formation. The residential project is being driven through a joint venture with the residential developer Nordr.

The translation was written by an AI system, though the original text was authored by a human.