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    FABG   SE0011166974

FABEGE AB (PUBL)

(FABG)
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146.4 SEK   +0.41%
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Fabege : granted land allocation permit in Hammarby Sj÷stad by the City of Stockholm

09/25/2020 | 03:31am EDT

Fabege and the City of Stockholm have agreed on the granting of a land allocation permit for Hammarby Fabriksväg (Korphoppet 5) which covers up to 33,000 sqm GFA of office space and other business premises. This forms part of the city's project to connect Hammarbyhöjden and Hammarby Sjöstad. Today, Fabege is the leaseholder of the Korphoppet 5 property.

The raised road Hammarbyvägen and the lower lying Hammarby fabriksväg are proposed to be merged at the lower level and developed into an urban street, with buildings along both sides. The intention is to create a safe, attractive, contiguous urban space with approximately 4,000-5,000 office workspaces, hotels, a square and active ground floors with commercial premises facing the street.

Fabege is the owner of the surrounding properties on Hammarby Fabriksväg and is now planning the future development together with the city and other construction companies. Korphoppet 5 is currently used as a works tunnel for the expansion of the blue metro line, which will have two new stations in Hammarby Sjöstad, meaning that the district will be linked closer to the inner city and have a connection to Nacka to the east and Hagsätra to the south.

"Hammarby Sjöstad is a city district that is close to our hearts, with a good mix of housing, offices, schools, culture and service. Our recent acquisition of the Påsen 1 district, our properties along Hammarby Fabriksväg and this new land allocation permit give us excellent conditions to expand Hammarby Sjöstad's vibrant urban character and good working environment to the south," says Fabege's President and CEO Stefan Dahlbo.

A land allocation permit is an option to negotiate with the city on a specific piece of land, with exclusive rights.

Fabege AB (publ)

For further information, please contact:
Stefan Dahlbo, President and CEO, tel. +46 (0)8-555 148 10, +46 (0)70-353 18 88
Charlotte Liliegren, Head of Urban and Property Development, Fabege, tel. +46 (0)8-556 747 38,
 +46 (0)70-420 22 30

Fabege is a 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-land-allocation-permit-in-hammarby-sjostad-by-the-city-of-stockholm,c3202381

https://mb.cision.com/Main/1568/3202381/1310396.pdf

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

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Financials
Sales 2021 2 877 M 346 M 346 M
Net income 2021 2 290 M 275 M 275 M
Net Debt 2021 28 439 M 3 420 M 3 420 M
P/E ratio 2021 20,6x
Yield 2021 2,58%
Capitalization 47 123 M 5 661 M 5 667 M
EV / Sales 2021 26,3x
EV / Sales 2022 25,4x
Nbr of Employees 191
Free-Float 78,1%
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Mean consensus HOLD
Number of Analysts 9
Average target price 128,16 SEK
Last Close Price 145,80 SEK
Spread / Highest target 2,19%
Spread / Average Target -12,1%
Spread / Lowest Target -31,1%
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Managers and Directors
NameTitle
Stefan Dahlbo President & Chief Executive Officer
┼sa Bergstr÷m Chief Financial Officer, Secretary & Executive VP
Jan ┼ke Gustaf Litborn Chairman
Anders Borggren Director-Technical Operations
Mńrtha Louise Josefsson Independent Director