TK Development and the Swedish housing developer JM AB have entered into a cooperation agreement with SKF Sverige AB to develop SKF’s former factory area in the old part of Gothenburg. The contemplated project comprises a total floor space of about 75,000 m²: 30,000 m² for a shopping centre, 15,000 m² for services/commercial use and 30,000 m² for housing. TK Development will be in charge of developing the 45,000 m² for a shopping centre, services and commercial facilities, while JM AB will have responsibility for the 30,000 m² of housing. The local plan is currently being prepared, a process that is taking longer than anticipated. The local plan is now expected to be approved in mid-2014 rather than in 2013, as previously envisaged. The project is being discussed with potential tenants, and a number of lease agreements have been concluded.