Serneke sells rental housing projects in Örebro

Örebro’s Tamarinden district will be one of Sweden’s first truly climate-intelligent residential areas. A total of 700 homes, a preschool, several parks and business premises will be built in the district. In the autumn of 2020, Serneke was allotted land in the area to develop the 139 rental apartments divided between to buildings with a basement garage.

“Being involved the development of Serneke Region Middle’s first PU project in a district as interesting as Tamarinden has been extremely exciting. This involves attractive, efficient housing and the project is a pioneer in smart energy sharing,” says Magdalena Nääs, Project Developer at Serneke.

The Tamarinden district has far-reaching plans to share energy between the properties through a pilot project. The five developers in the neighborhood are joining forces to buy a shared connection to a district heating network in the area to create a micro-grid for sharing heat between the buildings. A local direct current network will also be established between the properties, allowing them to share surplus solar energy from the properties’ solar cells. This is all intended to cut energy peaks and reduce energy consumption.

“Tamarinden in Örebro is the way of the future for developing and constructing districts. We want to be involved in such contexts and be able to influence them, while also learning more alongside investors and industry colleagues. We are particularly happy to have CapMan as a new customer for Serneke on that journey,” says Ola Serneke, CEO of Serneke Invest.

The project, which has now been sold to CapMan, is scheduled to commence construction in October 2022 and is scheduled for occupancy by the end of 2024. The total sales proceeds of approximately SEK 314 million includes associated project development commitments and contracts.

Pangea Property Partners has been Serneke’s adviser in the sales process.