Besqab and Alfa Development secure rights for 400 new homes

Besqab and Alfa Development have acquired development rights for 400 new residential units in Södra Hagalund, Solna, from Humlegården Fastigheter for SEK 459 mln (€40.5 mln).

Besqab residential

The acquisition involves properties Gelbgjutaren 3, 4, 10, 13, 14, and 17, totalling about 34,000 m2 of gross floor area.

The transaction, structured as a share purchase, is contingent upon the City of Solna approving an addendum to the development agreement. If approved, the closing is expected by the end of May 2026, with construction potentially commencing in 2027.

The Södra Hagalund area is currently undergoing a significant transformation, aiming to create a vibrant new district with housing, retail, workplaces, cultural venues, and services. A new metro line will also run through the area, improving connectivity to central Stockholm. The acquired properties are covered by an existing detailed development plan that permits multi-family residential buildings centred around a shared green courtyard.

Besqab and ALFA Development plan to develop the project in four phases, offering a mix of housing types to attract a diverse range of residents and foster a dynamic neighbourhood.

Magnus Andersson, CEO of Besqab, says: “Alfa Development has solid experience in transforming former commercial environments into modern residential areas. We look forward to deepening our collaboration and, together, creating a truly attractive new residential neighbourhood.”

Andreea Kaiser, Group CEO of Alfa Development Sweden, added: “By combining Besqab’s best-in-class Swedish product with our Danish design expertise and experience in transforming old commercial areas into vibrant urban environments, we create attractive districts with quality, identity and long-term value.”