Genova and Urban Partners have entered into an agreement regarding a newly formed joint venture for the first stage of the Viby urban development project in Upplands-Bro, in which Genova will hold a 50 per cent stake alongside Urban Partners via NSF V. Completion of the transaction is expected to take place on 31 March 2026.
The first stage comprises ten properties and approximately 40,000 sqm of gross lighted floor area. Urban Partners, which already has a joint venture with Genova relating to rental apartments and a retirement home in Norrtälje, holds an option to acquire 50 per cent of the project’s remaining two stages. Genova acquired the property Viby 19:3 in 2014. The zoning plan enables the long-term development of Viby into a new, accessible district comprising a total of 850 residential units, green spaces and strong community services. The project will be developed in three stages, and construction of the first blocks commenced in May 2025. These include approximately 300 residential units, a Hemköp grocery store, an elementary school with the Raoul Wallenberg School, and a sports centre. Completion of the first stage is expected during 2027–2028.
KANTER advised Genova on the transaction.