Over the course of the year, Fabege’s Head of Urban and Property Development, Head of HR and Head of Communication have been co-opted members of the Executive Management Team. Their roles have now been made permanent, and as of 1 January, Fabege’s Executive Management Team has a total of nine members.
Fabege has achieved an important milestone in its sustainability work as all of the company’s loan agreements are now green. Therefore, Fabege is first among the Swedish property companies to exclusively choose green financing.
Hotel Giò wins the Solna Urban Environment Prize 2020
The distinguished Hagahuset building in Solna, which is owned by Fabege, houses Hotel Giò – a hotel and restaurant which takes its inspiration from Italy. The hotel opened during the spring of 2020 and today, as one of three finalists, it was awarded the Solna Urban Environment Prize 2020.
Fabege named by GRESB as global leader in sustainability in 2020
GRESB (Global Real Estate Sustainability Benchmark) produces an annual ranking of the property sector from a sustainability perspective. In this year's survey, Fabege achieved 93 points, which means that the company is ranked as sector leader in the Office sector among listed real estate companies. The companies surveyed represent more than USD 5.3 billion in assets under management, and GRESB's data is used by more than 100 institutional and financial investors to monitor investments and navigate the strategic choices required for the industry to transition to a long-term sustainable future.
Fabege AB (publ) has started the share buy-back programme approved by the Annual General Meeting on 2 April 2020. The AGM authorised the Board for a period no later than the next AGM to acquire Fabege shares. The shares acquired may not exceed 10 per cent of the total number of outstanding Fabege shares at any time.
The third quarter was characterised by a continued uncertain rental market, a strong recovery in the capital markets and a more positive view of property valuations. Fabege reported stable rental income and positive changes in value both in the quarter and for the entire period.
Electrolux Professional to move to Glädjen at Hornsbergs strand
Electrolux Professional has signed an agreement with Fabege to move to Franzéngatan 6 and the Glädjen district. Its new Group headquarters is now being created, a large showroom for a wide selection of products and demonstration kitchens for training. In total, the company is renting 1,300 sqm and is expected to move to the premises in June 2021.
Arenastaden has gained a playful and colourful addition in the form of a new Pep Park. At Arenatorget, a stone’s throw from both Friends Arena and Westfield Mall of Scandinavia, Fabege together with Generation Pep and the City of Solna has built the new park, which will inspire children and young people to be more active.
Fabege granted land allocation permit in Hammarby Sjöstad by the City of Stockholm
Fabege and the City of Stockholm have agreed on the granting of a land allocation permit for Hammarby Fabriksväg (Korphoppet 5) which covers up to 33,000 sqm GFA of office space and other business premises. This forms part of the city’s project to connect Hammarbyhöjden and Hammarby Sjöstad. Today, Fabege is the leaseholder of the Korphoppet 5 property.
At Fabege’s Annual General Meeting on 2 April 2020, 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 is included in the sustainability index Global Challenges (GCX)
Fabege is the first real estate company to qualify for GCX. The fact that all investment properties are environmentally certified according to BREEAM In-Use and all new production is certified according to BREEAM-SE is the reason for the inclusion in the index.
Fabege AB (publ) has started the share buy-back programme approved by the Annual General Meeting on 2 April 2020. The AGM authorised the Board for a period no later than the next AGM to acquire Fabege shares. The shares acquired may not exceed 10 per cent of the total number of outstanding Fabege shares at any time.
Fabege granted a land allocation permit at Sveaplan by the City of Stockholm
The Land Development Board (Exploateringsnämnden) decided at its meeting on 27 August 2020 to grant Fabege a land allocation permit at Sveaplan. A prerequisite for the creation of the development right, covering about 9,000 square metres, is that Sveaplan is redeveloped in accordance with the city’s plans for Östra Hagastaden.
Fabege acquires property and holding in the consortium SBD from WA Fastigheter
Flemingsberg is currently the site of Sweden’s biggest urban development project. Fabege has acquired the Regulatorn 2 property, which has a central location in the area and constitutes a key piece of the puzzle in the development of the district of Flemingsbergsdalen. In connection with the acquisition, an agreement has also been entered into with WA Fastigheter for Fabege to be the sole owner of the consortium SBD.
During the second quarter, the effects of Covid-19 on our earnings became visible through rent rebates and decreased property values. However, our projects progressed as planned, without any larger disruptions. Net letting during the first half of 2020 amounted to SEK 20m. The renegotiations decreased in volume due to the pandemic but contributed positively to the rental value. During the quarter, two properties were acquired.
Fast-growing technology company signs contract with Fabege
The fast-growing Swedish technology company Mentimeter, with over 80 million customers and users in obver 200 countries, is now moving its Swedish headquarters to the architectural gem Tulestationen in Vasastan, central Stockholm. The premises are located in the old turbine halls by the courtyard, accessible from Tulegatan, and are about 2,300 sqm with a rent of approx. SEK 16m. The contract runs for five years and the company is expected to move onto the premises in April 2021.
Fabege has acquired Påsen 1 in Hammarby Sjöstad from CapMan Nordic Real Estate. The building is very close to Fabege’s properties along Hammarby Fabriksväg and nextdoor to Trikåfabriken 9 on Textilgatan. It has a lettable area of about 10,000 sqm, 8,270 sqm of which is office space and the remainder is storage, with an additional area for parking spaces.
Resolution by Fabege’s Annual General Meeting on 2 April 2020
At the Annual General Meeting (AGM) of Fabege AB on 2 April 2020, the shareholders approved the Board’s proposal for 2019, a dividend of SEK 3.20 per share, to be paid on two occasions of each SEK 1.60 per share.The record date for payment of the dividend was set at 6 April 2020 and 6 October 2020. It is expected that the dividend will distributed through Euroclear Sweden AB on 9 April 2020 and 9 October 2020.