Klövern, Storheden, Näckebro, Balder and the ”old” Fabege are some of the property companies which, directly or indirectly, have been acquired over the years and have contributed to the creation of the present-day Fabege.
As the present-day Fabege has the same corporate identity number as the former Wihlborgs Fastigheter, the company can trace its origins back to the construction firm started by the master builder O P Wihlborg in Malmö in 1924. The company was then in the family’s ownership for 60 years, until 1985, when it was sold to the Malmö-based group Active.
The company name Fabege originates in a property company created by one of the leading property players in the 1980s, Birger Gustavsson. His initials formed part of the company name, as Fabege stood for Fastighetsaktiebolaget Birger Gustavsson. However, the present-day Fabege has very little to do with Birger Gustavsson’s creation. The then Fabege was acquired by Näckebro, which in turn was bought by Drott. Drott was then split into two companies, one of which was given the name Fabege. This company in turn was acquired by Wihlborgs Fastigheter, which in 2005 changed its name to Fabege. The present-day Fabege is consequently the third company to bear the name.
Important events
- 1990 Wihlborgs B shares are listed on the Stockholm Stock Exchange’s O list.
- 1993 Bergaliden becomes the new principal owner of Wihlborgs.
- 1996 In December Wihlborgs B shares are listed on the Stockholm Stock Exchange’s A list.
- 1997 In the spring Wihlborgs completes the acquisition of M2 Fastigheter. In September the Board of Wihlborgs makes a public offer for acquisition of Klövern Fastigheter AB.
- 1998 At the beginning of the year Wihlborgs completes the acquisition of Klövern Fastigheter AB. On 13 April Wihlborgs makes an offer for Fastighets AB Storheden, and the merger takes place during the late summer of the same year.
- 1999 Wihlborgs acquires Svedeg GmbH’s 50 percent share in the company that owns the property Blåmannen 20/Klara Zenit in central Stockholm. Wihlborgs thereafter owns 75 percent of the joint company, in which Peab AB continues to hold 25 per cent.
- 2000 There is a conversion of high-vote A shares into B shares.
- 2001 The principal owner Bergaliden sells its entire shareholding of 30.2 percent of Wihlborgs. Wihlborgs acquires Postfastigheter with 73 properties. In December Wihlborgs shares are listed on the Stockholm Stock Exchange’s O list.
- 2002 Wihlborgs sells 60 properties in non-prioritised locations to Adcore, which is converted into a property company under the name of Klövern AB. In June a reverse split is performed, which means that five Wihlborgs shares are combined to form one. In December Wihlborgs acquires the remaining 25 percent of the shares in Klara Zenit.
- 2003 Wihlborgs acquires shares in Drott AB (later split into Bostads AB Drott and Fabege AB), and during the year becomes the major shareholder in the company. At the end of the year, Klara Zenit is sold for SEK 2,950m, at a profit of SEK 400m.
- 2004 The acquisition of Fabege AB is completed after a public offering to the company’s other shareholders, which means that Wihlborgs’ property portfolio grows by around 150 commercial properties. In December the proposal to distribute the Öresund properties to the shareholders and thus concentrate operations on the Stockholm region is published.
- 2005 The Öresund operation is distributed and quoted on the Stockholm Stock Exchange’s O list under the name of Wihlborgs Fastigheter AB. The ”old” Wihlborgs changes its name to Fabege AB at the same time. Fabege sells properties during the year for a total of SEK 14 billion. In December an agreement is signed to acquire 82.4 per cent of the shares in Fastighets AB Tornet.
- 2006 Fabege acquired Fastighets AB Tornet with a total of 104 properties. Among this acquisition, WennerGren Center and Solna Business Park can be named. The property stock in Kista and Täby was disposed of to Klövern for SEK 4bn. Total turnover properties amount to SEK 28bn, of which SEK 12bn is sales and SEK 16bn is purchases.
- 2007 Fabege continues to concentrate its business to its main markets, Stockholm Inner City, Solna and Hammarby Sjöstad. 17 properties are sold and 8 are acquired. In June the company effects a 2:1 share split, doubling the number of shares.
- 2008 13 properties were sold, while 2 were acquired. Fabege increased tempo of projects where existing properties are processed and developed to increase cash flow and value growth.
- 2009 Fabege continues to concentrate its property portfolio, some 92 per cent of which is found in a 5 km radius of downtown Stockholm. Towards the end of the year, work is initiated in the new district, Arenastaden, in Solna.
- 2010 Fabege’s concentration of its property portfolio is now completed. The property portfolio is now concentrated to Stockholm inner city, Solna and Hammarby Sjöstad. The focus will continue to be on the development of Arenastaden, the new city district.
- 2011 The concentration of the property portfolio continues and Fabege continues to focus on the development of projects. The new Arenastaden city district is growing and developing, with the Mall of Scandinavia and Swedbank Arena as major landmarks.