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    FABG   SE0011166974

FABEGE AB (PUBL)

(FABG)
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Real-time Estimate Quote. Real-time Estimate Cboe Europe - 07/27 11:30:00 am
148.65 SEK   -0.03%
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07/09TRANCHE UPDATE ON FABEGE AB (OM : FABG)'s Equity Buyback Plan announced on May 3, 2021.
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Fabege : acquires land for further long-term urban development in Solna

03/19/2021 | 02:01am EDT

Fabege and Skanska Sweden are together acquiring approximately 150,000 square metres of land, which has become available as a result of the Mälarbanan railway line being expanded and partly put in a tunnel. This creates the conditions for extensive urban development, with space for 1,000 new homes and 2,000 new jobs next to Solna Business Park and into Huvudsta.

New opportunities for urban development with green city districts, housing and workplaces have arisen as a result of the Mälarbanan railway line being expanded through Solna and part of it being put in a tunnel. Fabege is acquiring land to create approximately 52,000 sqm of office space and approximately 10,000 sqm of housing. The purchase price for the land is approximately SEK 900m, which will be paid to the city of Solna as the new urban districts are built. The construction start for the expansion of the Mälarbanan is planned for 2023 and the new buildings are expected to be built between 2030 and 2040.

"The development of central Huvudsta is by far Solna's largest and most complex urban development project, as the railway will be put underground and lined with new buildings. It therefore feels good that we are working with two companies that have extensive experience of urban development in complex metropolitan environments," says Pehr Granfalk, Chairman of the Municipal Executive Board in Solna.

The Municipal Executive Board in Solna is expected to approve the agreement on 29 March 2021. The proposed local development plan will have its consultation phase in spring 2021.

"Along with our current development of Arenastaden, Haga Norra and Solna Business Park, the land acquisition is a natural addition that contributes to new value-creating opportunities in Solna in a long-term perspective. The geographical location and Solna's many advantages mean that we are keen to increase our portfolio in the area," says Stefan Dahlbo, President and CEO of Fabege.

150,000 square metres of land for new housing, nursery schools and workplaces
In addition to Fabege's acquisition of land for offices and homes, located close to the start of the tunnel in Huvudsta and next to Solna Business Park, Skanska Sweden will also acquire land to build approximately 85,000 square metres of housing with premises for restaurants and other service outlets at the street level, as well as two nursery schools and a communal home for supported housing.

The urban development will reduce the barrier currently formed by the railway, as new buildings will link the districts of Huvudsta and Skytteholm together with central Solna. At the same time, public transport accessibility will be improved in the area as a result of a new commuter train station in Huvudsta and a new station entrance in Solna Business Park for Sundbyberg station.

Fabege AB (publ)

 

For further information, please contact:
Stefan Dahlbo, President and CEO, tel. +46 (0)70-353 18 88, stefan.dahlbo@fabege.se
Charlotte Liliegren, Director of City and Property Development, tel. +46 (0)70-420 22 30, charlotte.liliegren@fabege.se
 

With a focus on commercial properties, Fabege develops attractive locations in the Stockholm area. We are a proactive partner that puts people in front and centre. Our innovative, responsible and flexible ethos enables companies, locations and our city to develop and thrive. We take a long-term approach in our perspective and ownership. We know that when we create sustainably, we also create value. The Fabege share is listed on Nasdaq Stockholm, in the Large Cap segment. For further information, please visit us at www.fabege.com.

https://news.cision.com/fabege/r/fabege-acquires-land-for-further-long-term-urban-development-in-solna,c3309372

https://mb.cision.com/Main/1568/3309372/1389065.pdf

https://news.cision.com/fabege/i/oversikt-malarbanan,c2891010

https://news.cision.com/fabege/i/malarbanan-farg,c2891011

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 2 875 M 333 M 333 M
Net income 2021 3 073 M 356 M 356 M
Net Debt 2021 28 748 M 3 334 M 3 334 M
P/E ratio 2021 16,0x
Yield 2021 2,53%
Capitalization 47 865 M 5 562 M 5 551 M
EV / Sales 2021 26,7x
EV / Sales 2022 25,6x
Nbr of Employees 191
Free-Float 78,1%
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Last Close Price 148,65 SEK
Average target price 140,49 SEK
Spread / Average Target -5,49%
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Managers and Directors
Stefan Dahlbo President & Chief Executive Officer
┼sa Bergstr÷m Chief Financial Officer, Secretary & Executive VP
Jan ┼ke Gustaf Litborn Chairman
Fred Gr÷nwall Director-Technical Operations
Mńrtha Louise Josefsson Independent Director
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