Through co-owned Visio, Fabege and Peab share development rights for the Råsunda property. The original property comprised approximately 16,000 sqm of existing office buildings, 19,000 sqm of commercial development rights and 70,000 sqm of housing development rights.
Citylab Action is a forum for sharing best practice in sustainable urban development organised by the Sweden Green Building Council (SGBC). Involvement means that Fabege will establish a sustainability program, action plans, objectives and measures to methodically develop Solna Business Park in a sustainable direction.
Profit after tax for the first nine months of the year amounted to SEK 2,054m (828), corresponding to SEK 12.42 per share (5.01). Rental income declined to SEK 1,493m (1,565) due to a smaller property portfolio than in the year-earlier period. In an identical portfolio, income rose approximately 4 per cent. Investments, rising market rents and lower yield requirements in the market contributed to a high surplus ratio and strong value growth in the property portfolio.
Fabege secures contract with EVRY at Solna Business Park.
EVRY has decided to renew its contract with Fabege for the Sliparen 2 property and has signed a 12-year contract for approximately 12,000 sqm. EVRY’s operations will thus remain at the same address, but the company’s Swedish head office will be refurbished to meet new needs and requirements for a more flexible way of working.
Climate and Economic Research in Organizations (CERO) is a concept developed to assist organisations identify economically sustainable strategies in order to achieve climate targets for travel. Employees’ travel patterns and acceptance of alternative measures are analysed and modelled explicitly to achieve maximum support in the organisation. The model was developed as part of a doctoral thesis at the Royal Institute of Technology (KTH) and is currently applied by several major companies and players in the public sector.
Fabege is signing a new long-term credit facility with the European Investment Bank (EIB) for investments in environmentally certified property projects. The loan facility comprises a ten-year credit in an amount denominated in SEK that corresponds to EUR 100m. The financing will be used for investments in some of Fabege’s major property development projects in Arenastaden.
At Fabege’s Annual General Meeting on 26 March 2015, it was decided that the Nominating Committee, whose tasks include submitting proposals to Members of the Board, would primarily comprise representatives of the four largest shareholders. The names of the Nominating Committee's members and the owners they represent are to be announced no later than six months before the AGM and are based on the known ownership immediately before the announcement.
Fabege’s sustainability work ranked highest in Europe in office sector
In its annual survey, GRESB – whose mission is to enhance and protect shareholder value by evaluating and improving sustainability practices in the global real estate sector – has ranked Fabege as the leader in the office sector for listed property companies in Europe.
ICA Gruppen AB has signed a new 12-year agreement for slightly more than 23,000 sqm of floor space, excluding garage facilities, in Arenastaden. The total annual rental value including parking facilities amounts to about SEK 68m. The office will be built on the Signalen 3 property and occupancy is scheduled for the third quarter of 2018.
Fabege recruits new talent as part of ongoing robust city district development
Due to the combination of an extensive project portfolio of development rights and an ambitious goal to develop the most sustainable and attractive city districts of tomorrow, Fabege is now strengthening its business development and property management organisation. The new employees will contribute to the company’s continued development activities, bringing fresh ideas and renewed drive to the emergence of new city districts.
Record strong earnings during first six months of the year
Profit after tax for the period amounted to SEK 1,535m (563), corresponding to SEK 9.28 per share (3.40). The surplus ratio rose to 72 per cent (71), a record-high first-half-year figure. Profit from property management increased 16 per cent and value growth in both the property management portfolio and the project portfolio contributed to the strong earnings.
Telenor Sweden relocates to newly built office in Råsunda
Fabege and Telenor Sweden have signed a ten-year lease for 9,800 sqm of office, bicycle storage and garage space at a combined annual rental value of approximately SEK 31m. The lease marks the start of Fabege’s planned utilisation of office development rights in Råsunda. Occupancy is scheduled to occur in the second half of 2018.