Why did it take so long to finalise the agreement?
We have been negotiating and working hard to finalise this agreement over the course of four years. I realise that this may seem like a long time, but it is an enormous and complicated project including many issues of varying degrees of complexity that must come into place. It feels incredibly gratifying to have it finalised and the Mall of Scandinavia will be highly significant to the development of the area.
Does the delay of the agreement impact Fabege’s plans?
No, Fabege’s plans are firmly in place. The conclusion of the agreement with Unibail-Rodamco enables us to now accelerate the completion of Arenastaden.
When will construction commence?
Project planning will begin in January 2012 and on-site work will commence as early as this spring.
When will it be completed?
The Mall of Scandinavia will be completed by autumn 2015. It will be the Nordic region’s largest shopping centre and an experience beyond the ordinary. Arenastaden will be able to offer a unique combination of fantastic experiences, shopping, residences for an urban lifestyle, a design hotel featuring a large conference centre, modern offices offering comprehensive service and exceptional transportation possibilities.
What will the Mall of Scandinavia entail for Fabege?
For Fabege, which owns most of the existing commercial properties in Arenastaden, the transaction boosts the attractiveness of the area. Arenastaden will now be able to offer a comprehensive selection of attractive and unique experiences, hotels, residences, workplaces, shopping, exceptional transportation possibilities and service.
What will the Mall of Scandinavia entail for Fabege’s shareholders?
For Fabege’s shareholders, the transaction boosts the attractiveness of the area. Fabege owns most of the existing commercial properties. The transaction increases the value of existing properties and our project potential. The development rights in Arenastaden can be utilised earlier.
What will the Mall of Scandinavia entail for Arenastaden?
For Arenastaden, the Mall of Scandinavia constitutes the arrival of another landmark in addition to the Swedbank Arena. The venture is one of the largest, even from an international perspective, and the project maintains a very high level of ambition. The shopping centre will become a destination in itself that attracts visitors from throughout Scandinavia. The Mall of Scandinavia constitutes a key component in Arenastaden and in the plan to achieve the vision of creating the meeting place of tomorrow for companies of the future.
What contractor is being used?
PEAB has been entrusted with constructing this unique shopping centre.
What type of centre will it be?
The Mall of Scandinavia will offer an entirely new all-round experience and set a new standard for the shopping experience. The centre will include a multiplex cinema and around 250 stores and restaurants.
Who will own and operate the Mall of Scandinavia?
Unibail Rodamco is the owner and operator of the Mall of Scandinavia and has appointed PEAB as the turnkey contractor for the construction of the centre.
Who owns the land on which the centre is being built?
Unibail Rodamco is the exclusive owner and has acquired the land on which it is being built from Råsta Holding. Fabege acquired the right to develop above the centre and will construct an office building in the space, which will be completed at the same time as the centre, meaning October 2015.
Does this impact the infrastructure planning?
No, it does not. The planned infrastructure investments are based on Arenastaden offering an attractive shopping centre combined with workplaces, residences and experiences beyond the ordinary in the form of the Swedbank Arena.
Will the costs for infrastructure investments be charged to Fabege?
The infrastructure investments being made will be financed by the jointly owned company Råsta Holding, whose capital derives from income from the sale of land and development rights in the Arenastad area. Råsta Holding is thus a zero-sum transaction, since the company’s capital is equivalent to the infrastructure investments being made.
Why Unibail Rodamco?
Unibail Rodamco is a financially strong international player with international visions that has the highest level of expertise regarding the Swedish retail market.