Convendum and Fabege sign agreement on new coworking space on Drottninggatan
At Drottninggatan 29, in the middle of the government quarter, Convendum is opening a new coworking arena of approximately 4,000 sqm. The central location and proximity to the major workplaces in the Swedish Government Offices have been crucial factors. The agreement is for ten years and Convendum will take possession in June 2023.
Fabege AB (publ) has started the share buy-back programme approved by the Annual General Meeting on 25 March 2021. 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.
Offices with a strong character and timeless architecture are emerging in Haga Norra
Fabege is now starting construction of the first office block in Haga Norra. This is a project with a strong environmental profile and architecture that flirts with an industrial feel by using recycled brick with patina, large mullioned windows and timeless material choices. Haga Norra Block 1 will be ready for occupancy in early 2024 and will provide approximately 31,500 sqm of office space spread over eight floors.
International architecture award for Pep Park in Solna
The Pep Park “100 metres Pep” in Huvudsta, Solna has been awarded the IOC IAKS Award in Bronze and has also received an additional award for its accessibility.
There was heightened activity on the rental market in the third quarter, and net lettings were very strong. The period saw an increase in rental income and improved net operating income compared with the previous year. Value growth in the property portfolio was healthy, while projects are progressing according to plan.
SHH is a real estate development company with a focus on residential and local authority properties. Fabege’s strategy of optimising the value of its residential development rights portfolio is thereby being reinforced by the company acquiring both expertise and more development rights in its home market of Stockholm. All the shares in SHH are being acquired for a purchase price of SEK 880m. As of 18 October, SHH will be a wholly owned subsidiary of Fabege.
Invitation to Fabege’s presentation of interim report Jan-Sep 2021
On Wednesday 20 October 2021 at 07:30 (CET), Fabege’s Interim Report January-September 2021 will be published. Investors, analysts, journalists, and other interested parties are invited to participate in an audiocast and teleconference at 11:00 (CET) the same day.
The Nomination Committee consists of the following members:
· Göran Hellström, Chairman and representative for Backahill AB.
· Suzanne Sandler, representative for Handelsbanken funds.
· Eva Gottfridsdotter-Nilsson, representative for Länsförsäkringar funds.
· Mats Qviberg, representative for the Qviberg family.
Attaining the qualifications needed to get into upper secondary school is one of the most important factors in securing a better future in our modern knowledge-based society. Fabege has therefore signed an agreement with the educational foundation Läxhjälpen as a main sponsor, to help support more children in schools. The aim is to help more pupils achieve upper secondary school entrance qualifications and make personal contacts with university students.
Alfa Laval signs lease with Fabege on move to Flemingsberg
Alfa Laval is to be Fabege’s first major new office tenant in Stockholm South Business District in Flemingsberg. The company will be leasing just over 17,000 sqm, with an option to lease additional office space in the heart of this urban centre for which the local development plan will be initiated shortly. The lease is for 22 years and Alfa Laval is expected to take up occupancy during the second quarter 2025.
Fabege is now strengthening its letting team and has recruited three letting agents, who will join the company this autumn. On 1 August, Johan Zachrisson also joined the company as the new Director of Business Development and Transactions, and as a member of the Executive Management Team.
New appointment for Arenastaden and reinforcement in business development
On 18 August, Sanel Hasic will be assuming responsibility as Market Area Manager in Arenastaden, while Niclas Ternstål will be taking up a bespoke role in business development, tasked with continuing to run and develop Fabege’s range of solutions for customers.
Fabege proposed new land allocation in Hammarby Sjöstad
The City of Stockholm has agreed to allocate the leasehold property Korphoppet 6 and adjacent Korphoppet 7 to Fabege. Both properties are part of the ongoing local development planning work for the Sjöstadshöjden area, which aims to connect Hammarby Sjöstad with Hammarbyhöjden.
Stable quarter with heightened activity on the rental market and good net lettings. Renegotiations also made a positive contribution towards the rental value in renegotiated leases at healthy levels. Value growth persisted in the property portfolio, while projects are progressing according to plan.
Invitation to join an audiocast and teleconference 9 July for the presentation of Fabege’s Interim Report Jan-Jun 2021
On Friday 9 July 2021 at 07:30 (CET), Fabege’s Interim Report January-June 2021 will be published. Investors, analysts, journalists, and other interested parties are invited to participate in an audiocast and teleconference at 11:00 (CET) the same day.
Fabege was the first Swedish property company to opt exclusively for green financing. Fabege is now embarking on the next step along with Handelsbanken, as the first to take out a taxonomy-adapted loan for the Signalen 3 property in Solna.
Fabege has signed an agreement with Elgiganten regarding moving to Franzéngatan 6 in the Glädjen district. The design and adaptation of modern office space, training facilities and a pleasant courtyard is now underway in consultation with Elgigantent. The agreement covers nearly 2,300 sqm and will run for seven years. The building will be ready for occupancy in September 2022.
Solna Business Park is now getting a colourful addition in the form of a new park. The aim with this is to highlight Agenda 2030 and the UN’s 17 Sustainable Development Goals and make them accessible to everyone. In addition, the park will contribute to there being more activity between the buildings and make Solna Business Park a new destination to visit.
Fabege AB (publ) has started the share buy-back programme approved by the Annual General Meeting on 25 March 2021. 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 first quarter was characterised by stable revenue, higher winter-related costs and continued value growth in the property portfolio. We signed a major 12-year lease with Convendum which resulted in positive net lettings. The volume of renegotiations remained low but contributed positively to the rental value in renegotiated leases by 12 per cent. Our projects progressed according to plan.