The company has vast expertise and extensive experience from running property development projects, and strives to attract long-term tenants for properties that have not yet been fully developed and can be redesigned based on the customer’s requirements. Fabege’s project investments are forward-looking and designed to improve the environmental characteristics of the properties and reduce vacancy rates, thereby improving cash flows and value growth.
The company’s properties are developed and improved in response to changing demand. Project plans are prepared for new builds, while properties with development potential are acquired, developed and then either transferred to the Group’s investment portfolio or sold. New builds and more extensive development projects are always based on the principles of environmental building and energy requirements that comfortably fulfil the criteria for the EU GreenBuilding programme.
Projects aimed at adding value to land and buildings run over a longer period, often 10–15 years. In many cases, the planning work is initiated in partnership with the local authority in the area where the property or land is located. Together, visions are created for how to develop the area in the best way for the residents, for society as a whole and for Fabege as a company.
Responsibility for new builds and development projects, procurement and follow-up rests with the Projects department. Although the department is self-suffi cient in terms of project expertise, construction services are procured externally. During the year, the department expanded due to an increased need for proprietary resources.
During 2011
During the year, the Projects department focused on developing value to Fabege’s existing properties. Project volumes increased during the year and work was dominated by about ten major property development projects, including Vattenfall’s new headquarters in Arenastaden. Some SEK 1,457m was invested in existing properties.
The department also worked on assuring internal processes to improve efficiency and quality.
Focus 2012
Project volumes are expected to rise in coming years and the activities will focus on developing the new Arenastaden district in Solna, and on major development projects in Hammarby Sjöstad and Solna Business Park.