AF Gruppen

Regulatory Filings • Apr 23, 2020

AF Gruppen to develop and build new neighbourhood in Halmstad

AF Gruppen to develop and build new neighbourhood in Halmstad

AF Bygg Syd, a subsidiary of AF Gruppen, has been commissioned to build apartments in a brand new neighbourhood in the town of Halmstad in southwest Sweden. The contract is work SEK 170 million excluding VAT.

The Stadsgården quarter will be built in the new, centrally located neighbourhood of Västra Förstaden, and is walking distance from restaurants, shops, areas of natural beauty and the sea. The principal is AF Projektutveckling in partnership with real estate developers Wood & Hill.

Phase 1 of Stadsgården incorporates 63 architect-designed, owner-occupied homes, including three two-storey town houses that are integrated into the building.

"Demand for these apartments has been strong and we are both thrilled and proud to be the first company to start work in Västra Förstaden," says Bård Frydenlund, EVP Sweden at AF Gruppen.

Phase one of Stadsgården will be ready for occupation during Q2 of 2022. Sales start for phase 2 will commence later during 2020.

The Västra Förstaden neighbourhood in Halmstad will expand over a five-year period to around 450 homes.

AF Gruppen has extensive experience in real estate development and is one of Norway’s biggest property developers. AF Projektutveckling is the group’s Swedish company for the development of housing and commercial real estate. Wood & Hill is run by well-established investors with a background in the real estate industry.

For further information:

Bård Frydenlund, EVP Sweden, tel. +47 918 68 621

Andreas Rydbo, CEO AF Gruppen Sweden, tel. +46 31 762 40 03