Bonava finalises €112m rental housing divestment in Sweden

Bonava has entered into an agreement with Slättö for the forward sale of a rental housing project comprising just over 500 apartments in Norrbodahöjden, Upplands-Bro.

Norrbodahöjden in Upplands-Bro

The transaction is based on an underlying property value of approximately SEK 1.3 bn (€111.8 mln). Groundbreaking is slated for autumn 2026, with the buyer providing ongoing funding throughout the construction phase.

The deal aligns with Bonava’s strategy to expand its portfolio of low-risk rental projects, which are expected to generate immediate positive cash flow and boost business volume. Highlighting robust domestic and international investor appetite for Swedish build-to-rent assets, Bonava also recently secured two strategic land plots with development rights for 600 additional units: 100 in Skogås, Huddinge, and 500 in Stora Ursvik, with construction targeted within the next year.

Located in the growing Kungsängen district, the Norrbodahöjden development will offer a mix of studios to four-bedroom homes, alongside commercial units and parking. The energy-efficient project aims for an energy class B rating and Nordic Swan Ecolabel certification, utilising low-carbon concrete to reduce environmental impact.

The transaction remains subject to securing a building permit, with financial recognition booked upon the autumn construction launch.

Björn Bergman, regional manager, Stockholm, Bonava Sweden, stated: “We are experiencing strong demand for new rental apartments throughout the Stockholm region. By selling the Norrbodahöjden project, we are helping to develop an attractive and sustainable residential area in Upplands-Bro.”