Sweden's Diligentia has sold the Sturegallerian shopping mall in the central business district of Stockholm to Abu Dhabi Investments for a total of SEK 4 bn (EUR 440m). Diligentia indicated it received a higher price from the sale than it had initially hoped for, but the management did not want to comment on the exact sales result. The funds will be used to develop commercial properties in central Stockholm and Gothenburg.
Sweden's Diligentia has sold the Sturegallerian shopping mall in the central business district of Stockholm to Abu Dhabi Investments for a total of SEK 4 bn (EUR 440m). Diligentia indicated it received a higher price from the sale than it had initially hoped for, but the management did not want to comment on the exact sales result. The funds will be used to develop commercial properties in central Stockholm and Gothenburg.
Diligentia, one of Sweden's largest real estate companies, develops, manages and rents properties throughout Sweden's three growth regions: Stockholm, Gothenburg and Malmo. Its three main business areas are office space, retail/commercial properties and residential buildings. AXA Real Estate advised the institutional investor who acquired the shopping mall.
