Sveafastigheter Starts Construction of 127 Apartments at Spånga Station

Sveafastigheter has broken ground on Project Hedvig, a 127-unit residential development located next to Spånga Station in Stockholm, the company announced June 18, 2026.

Project Hedvig: Development Details

The Spånga Station development comprises 121 rental apartments and six LSS homes alongside commercial space and meeting areas at ground level. Construction began in June 2026, with resident move-ins targeted for late 2028.

The project's total investment, annual rental income, net operating income, and direct yield figures are sourced from structured research metadata associated with the announcement. Specifically, the metadata indicates a total investment of SEK 348 million and a direct yield of 5.7% on cost; however, these figures do not appear explicitly in the press release headline or body text available in the source and should be treated as undisclosed unless confirmed in the full press release.

Sveafastigheter's Broader Development Pipeline

Project Hedvig is one of several active construction starts in Sveafastigheter's residential pipeline. The company previously announced construction of 131 apartments in central Västerås in December 2025 and 87 apartments in Nacka in June 2025. In January 2026, Sveafastigheter was proposed to receive development rights for two projects totaling approximately 260 apartments in Nacka municipality, and in February 2026, the company won a land allocation competition for the Silokvarteren development in Västerås. The company also received a land allocation for 120 apartments in central Tullinge in December 2025.

In April 2026, Sveafastigheter divested a new development project in Nacka to Acer Bostad.

Merger with KlaraBo and Capital Markets Activity

The Spånga construction start comes as Sveafastigheter advances a planned merger with KlaraBo, announced in May 2026. Under the transaction, KlaraBo would acquire a property portfolio from SBB, with the combined entity positioned to become Nasdaq Stockholm's largest listed residential property company. Sveafastigheter published a merger document in June 2026 and convened an Extraordinary General Meeting to address merger-related matters, with a bulletin from that meeting issued June 26, 2026.

Sveafastigheter was placed on Rating Watch Positive in connection with the KlaraBo merger.

On the capital markets front, in January 2026 the company priced EUR 300 million in five-year senior unsecured bonds and established a Euro Medium Term Note programme. In December 2025, the company carried out an exchange transaction of SEK 2.1 billion. Sveafastigheter also gave a conditional notice of early redemption of its outstanding bonds in January 2026, with the condition subsequently confirmed as satisfied later that month.

Earlier in 2025, Sveafastigheter listed its shares on Nasdaq Stockholm, with trading commencing June 18, 2025. The company received an investment grade rating of BBB- with Positive Outlook from Fitch Ratings in May 2025 and established a Medium Term Note programme and Green Bond Framework in May 2025, subsequently issuing green bonds under that programme on multiple occasions.

Other Company Developments

Sveafastigheter won the Kundkristallen Award for Greatest Improvement in Service for the second consecutive year in February 2026 and joined Unizon's housing bank in October 2025. The company's interim report for January through March 2026 was published April 23, 2026, and its annual report for 2025 was released March 24, 2026. The board resolved to initiate a share repurchase program in March 2026 and authorized an additional share buyback in February 2026 to support delivery of shares under its Share Rights Program 2025.

Sources

Sveafastigheter AB press releases: https://corporate.sveafastigheter.se/en/media/press-releases/