Christian Hermelin, CEO of Fabege, comments on the third quarter of 2013:
“Rental income increased to SEK 513m (469) and profit from property management improved 6 per cent, year-on-year. The improvements were due to growth through positive net lettings and completed projects.
Fabege is now creating growth through value-generating investments in the company’s project portfolio and via value increases in the property management portfolio, primarily due to contract signings and higher rents. Although the rental market in Stockholm is stable, the processes are often protracted and we have still not completed a number of the attractive processes we have under way. However, we have time on our side, with project properties that will attract attention in a number of ways due to, for example, prime locations, modern flexible floor space and an advanced service concept.
I am becoming increasingly convinced of the fantastic location of Arenastaden, just seven minutes from the city. During the quarter, transport links to Arenastaden were further improved. The Målbron pedestrian bridge across the railway tracks and the new stairway down to Solna Station were opened in early October. It is gratifying to see the continuous expansion of the transport links to and from Arenastaden and that more companies are choosing Arenastaden as their address.”
Fabege AB (publ)