Urban Partners and Genova form joint venture for urban development project in Viby, Stockholm

Urban Partners, through Nordic Strategies Fund V, has entered a joint venture with Genova Property Group relating to the first phase of the Viby urban development project in Upplands-Bro, north of Stockholm. The underlying property value of the first phase amounts to approximately €33.5 million. Closing is scheduled for 31 March 2026.

The joint venture builds on an established partnership between the companies, which will each hold a 50 percent ownership stake in the project. The first phase comprises to the delivery of around 300 residential units as well as service and public functions, corresponding to approximately 40,000 square metres of gross floor area (GFA). The project forms part of a larger development totalling approximately 850 residential units.

Carl-Adam von Schéele, Head of Sweden of Urban Partners, said:

“This latest project in Viby marks a natural progression of our partnership with Genova, with strong potential to unlock the area’s full value through active development and close collaboration. It reflects our long-term commitment to combining capital with deep expertise in urban development to deliver high-quality, sustainable development over time, while playing a leading role in advancing an ambitious vision that will contribute meaningfully to the continued growth of the wider Stockholm market.”

Viby is being developed from a previously underutilised site into a new district with a mix of residential, service and public functions. Its location, in close proximity to existing residential areas, workplaces and nature, provides strong conditions for a well-functioning and sustainable district over the long term.

Michael Moschewitz, CEO of Genova Property Group, said: “We are pleased to expand our collaboration with Urban Partners to Viby, with a focus on developing attractive and sustainable housing and community services. Through this transaction, we continue to execute our strategy of developing building rights with low entry costs and, together with a strong capital partner, delivering urban development projects with clear profitability.”

For further details, contact: Maria Gertell, Communications Sweden, Urban Partners +46705886500 / xt_mage@urban.partners

FTI Consulting, PR advisers: urbanpartners@fticonsulting.com