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Swedish markets attracts large-scale investment

The appeal of the Swedish property market has grabbed the attention of one of the largest property fund managers in Europe.

Standard Life Investments (SLI) has purchased property in the northern city of Gayle, as well as commercial property in Vasteras.

These new acquisitions strengthened the company's European Property Growth Fund (EPGF) to the tune of €35.5 million and illustrated the profit potential of the Scandinavian market.

Will Fulton, manager of the EPGF at SLI said: "This is Standard Life Investments' first entry into the Swedish market.

"With good locations, good properties and good tenants available, the Nordic region represents a key strategic market for the fund and I'm looking forward to announcing similar acquisitions in the future, particularly in Sweden and Finland."

The investment follows a recent report from the Swedish Associations of Local Authorities and Regions, which predicted a bright future for the Swedish economy.

GDP is expected to grow by 3.6 per cent, employment rates will rise and household income will increase.

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