STOCKHOLM, Sweden, May 12, 2003 (PRIMEZONE) -- Wihlborgs has sold four properties in Malmo and one property in Stockholm for SEK 394 million at a total profit of SEK 67 million. The profit will be included in the result for the second quarter of 2003. The property in Stockholm and one of the properties in Malmo were acquired by newly formed housing cooperatives/condominiums. The other properties were acquired by private investors.
"We continue to sell residential properties to both private investors and newly formed housing cooperatives, in line with our strategy of reducing the proportion of residential properties in our portfolio," says Erik Paulsson, president and CEO, Wihlborgs Fastigheter AB.
"Amongst both private investors and tenants there is still great interest in investments in residential property," Erik Paulsson continues.
For further information:
Erik Paulsson, President and CEO, Tel.: +46 (0)8-555 148 18, +46 (0)733-87 18 18
Olle Knaust, deputy CEO and CFO, Tel.: +46 (0)8-555 148 10, +46 (0)733-87 18 10
Mats Berg, communications manager, Tel.: +46 (0)8-555 148 20, +46 (0)733-87 18 20
Properties sold Property Municipality Region Category Area Dorrhaken 1 Stockholm Stockholm Residential 11,755 Askim 1 Malmo Oresund Residential 1,242 Dimman 12 Malmo Oresund Residential 23,047 Duvan 25 Malmo Oresund Residential 4,215 Concordia 27 Malmo Oresund Resid/retail 4,857
Wihlborgs Fastigheter AB (publ) is one of Sweden's biggest real-estate companies, with real estate to a book value of SEK 19.7 billion. The real estate, which is concentrated on the Stockholm and Oresund regions, has a rental value on a twelve-month basis totalling SEK 2.2 billion, and a rentable area of 2 million square metres. The company has offices in Stockholm, Malmo, Copenhagen and Helsingborg. Wihlborgs' shares are listed on Attract40 on the Stockholm Stock Exchange's O-list.
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