Updated schedule for Karlatornet

Since the start of the year, the entire Karlastaden project, including Karlatornet, has undergone a thorough review and restructuring process to optimize areas and use, among other reasons. Under an exclusivity agreement, Serneke and a new project partner commenced negotiations during the spring for the complete financing of Karlatornet. As a result of these processes, the original schedule has been updated, with occupants now being scheduled to start moving into Karlatornet in the second half of 2022. According to an initial schedule, occupants would have started moving in during the latter part of 2021.

“Karlatornet is an extensive project, unparalleled within Sweden. We believe strongly in the project and are highly determined to implement it upholding the strict ambitions in terms of quality expected by our customer, the City of Gothenburg, and ourselves. With our review of the project now showing that we need a little more time than we had initially assessed, this should be considered in the light of Karlatornet being a unique feature in Gothenburg for a very long time to come,” says Ola Serneke, CEO of Serneke Group.

The negotiations currently in progress with an international player to bring a partner into the project are expected to be completed during the third quarter. The foundation works were completed in the early summer in connection with the casting of the base plate for the tower and Serneke is now proceeding with the construction work above ground.

Since the start of the project, there has been extensive interest in living in Karlatornet, with slightly more than 80 percent of the 594 apartments having now been sold. The buyers of the apartments in Karlatornet have been informed of the updated schedule.

“The 485 customers who have already bought an apartment are, alongside us at Serneke, part of a project that will forever transform Gothenburg's urban landscape and the perception of our city. The accommodation we will be providing for them will be completely unique and not comparable to anything else. I therefore have good hopes that they understand the challenges that such a project poses and that they can also accept their moving in date being postponed somewhat,” says Ola Serneke.

For additional information, please contact:

Patrik Lindström, President Serneke Project Development
Tel: +46 31 712 97 42
patrik.lindstrom@serneke.se  

Johan Live, Press Officer, Serneke Group AB
Tel: +46 768 68 11 37
johan.live@serneke.se

Serneke is a rapidly growing corporate group active in construction, civil engineering, project development and property management. The Group was founded in 2002 and today has income of approximately SEK 6.5 billion and about 1,200 employees. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industrial facilities, public buildings, roads and civil engineering projects, and other infrastructure. The Company’s customers are public and commercial clients, and operations are focused on the three metropolitan regions in Sweden, Gothenburg (Region West), Stockholm (Region East) and Malmö (Region South). Serneke has its headquarters in Gothenburg and offices in Stockholm, Malmö, Alingsås, Borås, Eskilstuna, Halmstad, Helsingborg, Jönköping, Skövde, Strömstad, Trollhättan, Uppsala, Varberg and Växjö. The Company's Series B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.

Mer information om Serneke Group AB finns på www.serneke.se