Corem Property Group AB and ALM Equity AB signed a letter of intent to investigate the conditions for creating a joint company. The parties have now entered into a binding agreement to form a joint company. The purpose of the company is to develop efficient and climate-smart rental housing for own management.

Its portfolio will include both investment properties and building rights for future development. The building rights portfolio consists of approximately 65 projects with potential for a total of approximately 24,000 homes. Geographically, the projects are focused to the Stockholm area with the remaining primarily in the Mälardalen region.

Properties and building rights which will make part of the joint company have an total underlying property value of SEK 10 billion. Transfer of possession is planned to take place during second quarter of 2022.