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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Fabege AB    FABG   SE0011166974

FABEGE AB

(FABG)
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Delayed Quote. Delayed NASDAQ OMX STOCKHOLM - 11/30 11:29:30 am
134.6 SEK   -0.74%
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Fabege : granted a land allocation permit at Sveaplan by the City of Stockholm

08/28/2020 | 03:01am EST

The Land Development Board (Exploateringsnämnden) decided at its meeting on 27 August 2020 to grant Fabege a land allocation permit at Sveaplan. A prerequisite for the creation of the development right, covering about 9,000 square metres, is that Sveaplan is redeveloped in accordance with the city's plans for Östra Hagastaden.

Fabege owns the well-known Wenner-Gren Center building and the three nearest buildings on Sveavägen. This allows a holistic perspective and co-utilisation of facilities by people using or working in the area.

· "It is not often that newbuild opportunities arise around the city centre, and we look forward to creating a new entrance to the centre of the city and strengthening the link to the new Hagastaden district and the national city park, together with the City of Stockholm," says Stefan Dahlbo, President and Group CEO of Fabege.

The city's planned reconstruction of Sveavägen and Sveaplan is within the framework of the detailed plan for eastern Hagastaden that has begun. This means that construction in the land area is dependent on the plans for eastern Hagastaden being realized. Fabege starts its work with the design through parallel assignments to selected architectural firms. A land allotment is an option to negotiate with the city with exclusive rights.

Fabege AB (publ)

For further information, please contact:
Stefan Dahlbo, President and CEO of Fabege, +46 (0)8-555 148 10, stefan.dahlbo.fabege.se
 

Fabege is the property company focusing on city district development and commercial properties. We develop attractive and sustainable districts with modern offices, housing and a broad range of services - together with strategic partners. Both our perspective and approach to ownership are long term and our passion is creating the right conditions for all those living, working and visiting our areas. We have a presence in a limited number of high-growth submarkets in the Stockholm region. Fabege's shares are listed on Nasdaq Stockholm, in the Large Cap segment. For more information,  www.fabege.com

https://news.cision.com/fabege/r/fabege-granted-a-land-allocation-permit-at-sveaplan-by-the-city-of-stockholm,c3183150

https://mb.cision.com/Main/1568/3183150/1298816.pdf

https://news.cision.com/fabege/i/visionsbild-sveaplan-och-ostra-hagastaden-200827,c2818290

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 2 797 M 327 M 327 M
Net income 2020 2 483 M 290 M 290 M
Net Debt 2020 26 574 M 3 107 M 3 107 M
P/E ratio 2020 18,3x
Yield 2020 2,45%
Capitalization 44 176 M 5 159 M 5 165 M
EV / Sales 2020 25,3x
EV / Sales 2021 24,5x
Nbr of Employees 190
Free-Float 79,6%
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Technical analysis trends FABEGE AB
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 126,78 SEK
Last Close Price 134,60 SEK
Spread / Highest target 31,5%
Spread / Average Target -5,81%
Spread / Lowest Target -40,6%
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Managers
NameTitle
Stefan Dahlbo President & Chief Executive Officer
Jan Åke Gustaf Litborn Chairman
Åsa Bergström Chief Financial Officer, Secretary & Executive VP
Anders Borggren Director-Technical Operations
Märtha Louise Josefsson Independent Director
Sector and Competitors