Danish pension fund manager PKA is investing DKK1.2bn (€160m) in a residential development project in the Copenhagen suburb of Hedehusene, alongside developer FB Gruppen.

The project is part of the broader long-term Nærheden development, to create a new residential district on a 65-hectare area south of Hedehusene train station.

The site as a whole is being developed by the philanthropic association subsidiary Realdania By & Byg in partnership with Høje-Taastrup Municipality, with 1,000 residents have already moved to the new district.

Jon Johnsen, chief executive officer of PKA, which manages four labour-market pension funds, said: “We are pleased to be able to expand our collaboration with the FB Group in an innovative project such as Nærheden.

“As the name suggests, we are investing in a sustainable district where everything is within reach, both nature, shopping, school and care for the little ones,” he said.

PKA previously collaborated with FB Gruppen on the DKK5bn development of the Copenhagen Wholesale Market (Grønttorvet) in Valby, which was repurposed to become a new residential district.

PKA said construction work on its portion of the residential development is to start in February 2022 and be completed in May 2023.

Hedehusene lies 28 km from Copenhagen city centre, and 18 minutes by train from the capital’s central station.

To read the digital edition of the latest IPE Real Assets magazine click here.

Topics