In 2010, Fabege sold a property portfolio to Profi Fastigheter. The parties then jointly conducted a detailed work plan to enable the development of housing on two of the properties. Profi Fastigheter has now agreed on the implementation of the housing project with a third party which leads to an additional consideration will be paid to Fabege.
Provided the new zoning plangains legal approval, the additional consideration is estimated to be at least SEK 200m and will be reported as a realised change in value in the fourth quarter of 2016. A condition for the additional consideration to be paid is that the new zoning plan for the properties in question must gain legal approval, which is expected to happen in the first quarter of 2017.
- We’re delighted about the creation of residential development rights on the properties, allowing the additional consideration to be realised, commented Klaus Hansen Vikström, Vice President and Director of Business Development at Fabege.
Fabege AB (publ)
This information is information that Fabege AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:30 CET on October 7 2016.