Our focus for the remainder of 2026 is clear: to increase the occupancy rate, conclude ongoing customer dialogues, protect cash flow and continue developing sustainable, attractive meeting places and workplaces in the Stockholm region.

The Swedish bond market is important for Fabege's financing and development. With a focus on credit quality and sustainability, it helps our capital structure and achieve the goal of balanced and sustainable financing.

We had a good start to the year, with net letting of SEK +24m in the first quarter. This reflects our business model, with demand for premises across our various segments, and includes offices as well as residential units and an elderly care facility.

“We are committed to being transparent with the capital market and the Moody's credit rating reflects our creditworthiness. We feel we have a high level of confidence from the capital market, which is also confirmed by the issues carried out by us during the current year. The total outstanding volume of bonds and certificates now amounts to just over SEK 15 billion.

We are proud and happy about our continued top ranking, which highlights the commitment to sustainability issues in our organization. It is proof that our work permeates the entire business and produces results. The work creates value and also develops our customer offering,

It has been a tougher first half-year than we expected at the start of the year, but still a stable result. Activity in the rental market gradually increased during the quarter, however the time to completion is still drawn out. On the positive side, the continued decline in interest rates and resulting lower average interest rates are particularly noticeable. The transaction market confirms our valuations. We look forward with confidence to the second half of 2025.

The capital market accounts for a significant portion of Fabege’s financing. At present, we borrow approximately SEK 11.5bn through the MTN program. The MTN program, together with our recently updated green framework, forms an important foundation for our green financing and our commitment to more sustainable business practices.

Sustainable financing is an important part of Fabege's sustainability efforts and our target is for all our financing to be sustainable. On the basis of the green framework that has now been updated, we will continue along that path.

After several quarters with negative net letting, we had a positive net letting this quarter. However, the political turbulence of recent weeks is again contributing to increased uncertainty. Looking a little further ahead, we believe that with a stronger economy, office employment will increase again. Our focus now is to have a close relationship with our tenants, to increase the occupancy rate in the existing stock and to create the conditions for future projects and growth.  

With their proximity to central Stockholm and wide range of services and events, Haga Norra and Arenastaden form an attractive city district. There is now only 6,500 sqm of office area remaining before the property is fully let. Our aim is that this will occur during the year.

We are pleased to be able to contribute to the City of Solna having a well-located, representative and appropriate city hall. This is a logical transaction, in which Fabege is streamlining its property portfolio in Solna, which mainly consists of Arenastaden and Solna Business Park

It's fantastic to have had the opportunity to work with Fabege and all its employees, customers, partners and owners. Although I still find the task enjoyable and inspiring, it is time to hand over to somebody else and do something different in my everyday life. The first half of the 2020s has involved a lot of challenges, but at the same time Fabege has continued to develop and is in a strong position for the future.

After a tough 2024, we deliver a stable result with increased rental income and improved net operating income. The financial net also developed positively during the year. However, the management result decreased slightly and the net letting was disappointing. Our assessment today is that we will begin to see a turnaround in the economy in 2025, which will positively affect both the rental and transaction markets. We have faith in the future regarding Stockholm's office market.

It is one of our strengths that we can offer our customers modern offices both in and outside the city centre when they want to move. We have previously successfully helped both ICA and Tietoevry relocate within our portfolio of properties.

The zoning plan has become legally binding, and we look forward to starting the renovation and expansion of the building once a lead tenant has signed. We are confident that Tegelterrassen, with its attractive location and range of services, will be highly sought after in the office market.

The sale is a natural part of our business model. The property is located outside our strategic urban development areas and the transaction also further strengthens our balance sheet and provides financial scope for further investments and acquisitions.

For Fabege, it is important to have continuity and transparency to facilitate a solid review of our creditworthiness. We experience a high level of confidence from the market, which is also confirmed by the issues we have made on the capital market, as during 2024 we have increased the outstanding bond volume by just over SEK 2bn to SEK 11.6bn

We are very much looking forward to moving to our new office in Hammarby Sjöstad. Providing a sustainable and attractive office in a good location is more important for employers than ever, and our new office in Textiltorget will fulfil the needs and wishes of our employees and the business.

We are very pleased that SEI has chosen to move into Textiltorget. The first tenants moved into their office premises in November and it is great to see the building really coming to life. There is considerable interest from the market as a result of the property's unique character and attractive location.

The rating from S&P Global Rating confirms that our dedicated work with sustainability issues is yielding results. It is another external validation that, alongside GRESB, gives us high marks. That Fabege is classified as a green company is positive from an investor and financing perspective as well as from a customer perspective.

Rental income and operating surplus increased during the period. In a like-for-like property portfolio, rental income rose by 5 per cent compared to the previous year. Lower interest rates are positive for the market and property values ​​rose during the third quarter. It is a good result in a market that continues to be cautious and pending. Although we see increased vacancies in the Stockholm area, rent levels are stable. However, the net letting so far this year is disappointing.

We are incredibly proud that our commitment and focus on driving Fabege towards an even more sustainable social actor is reflected in the evaluation. Together we make a difference.

 It is positive that the transaction market has come back to life. We saw several transactions in the CBD and in the outskirts with yield requirements that confirm our valuations.

For Fabege it is important with continuity and transparency to support the analysis of our credit profile. We feel that we have good confidence from the market, which our latest public issue of SEK 1.2bn last week proves.

The settlement with Telia is commercially motivated and will eventually have a positive impact on net letting as well as the property's NOI and property value. We appreciate our relationship with Telia as an important tenant that contributes to Arenastaden's attractiveness. Together we continue to develop Arenastaden, says Stefan Dahlbo, CEO Fabege.

A stable result as a whole.  We increased rental income and improved net operating income despite a wait-and see and somewhat cautious market. CEO.

We are very happy that BSH is moving to us and thereby further strengthening the mix of brands in the area. We look forward to welcoming all the new employees to Solna Business Park.

It is people who make a city and we are building for people. With its unique mix of academia, business and new cultural experiences in an attractive location, we are building a dynamic, unique and attractive urban centre that strengthens the entire Stockholm region.

We deliver a strong result with increased rental income, improved surplus ratio, increased profit from property management and strong net letting despite a turbulent environment. During the autumn, the rental market continued to be pending, while the financing market improved considerably.

We are delighted that Bengt Dahlgren has chosen to move into our fantastic Textiltorget property. With its vibrant street environment, people will not just pass by, but will also take time for a morning coffee, shopping or a cafe visit after work. This is completely in line with our vision of really bringing the area along Virkesvägen to life.

What we call an office has a central function in the lives of many. The office is important for creating community, belonging and enthusiasm. Still, it’s important for all of us to be open and responsive to developments, not least because of new technology. We believe and hope that this report can support this development.

Attractive offices are the engine of a city’s growth. What makes an office attractive is largely defined by employees, and to create long-term sustainable office concepts we need always be curious about how we can meet our tenants’ needs and wishes.

It is no longer enough to ‘entice’ employees back to the office. Instead, attention must be given to the whole person and to creating work environments that allow for well-being as well as productivity. You shouldn’t need to work at home to be able to concentrate.

We are continuing to develop Haga Norra. The next step is a residential housing project. Due to our long-term approach and financial stability, as well as the demand seen in previous housing development projects in the area, we are positive about launching the next phase even though the market has become more uncertain and the general economic situation is tougher.

We have worked together with Fabege on several projects in recent years and are now looking forward to the first residential housing project conducted via Birger Bostad. During the design phase, we worked on the project’s climate impact by looking at the possibility of reusing bricks and using climate-enhanced concrete. The apartments will also have the Nordic Swan Ecolabel.

As a result of her active work and leadership, Mia has ensured that our environmental, social and economic sustainability efforts are at the forefront in the industry. I am very pleased that Mia, with her broad experience of everything from management and projects to development and reporting, will now also take on an even more wide-ranging responsibility within the Group as a member of the Executive Management Team.

Arenastaden is a very attractive area and we are only halfway through its urban development. We will put people at the heart of the development of the new city blocks, by filling the best location in Arenastaden with restaurants, housing and offices.”

Continuing to develop a vibrant urban environment in Solna is an important part of our long-term efforts to create a more sustainable municipality. It is great that the local development plan has now come into force, as this will make it possible for even more people to live and work in Arenastaden.

Fabege has long engaged in dedicated sustainability initiatives to reduce the industry’s climate footprint. The green share is further proof that we take our sustainability efforts very seriously. This makes it easier for investors to make informed and sustainable choices.

AIK Fotboll belongs in Solna. It feels fantastic to now be able to offer AIK a sustainable and comprehensive solution for its men’s and women’s teams, as well as the youth academy, while we also make a big push regarding football activities for children and young people in Solna.

We are very pleased that the City of Solna is making it possible for AIK Fotboll to have a home within the municipality’s boundaries. We see ourselves as a key social stakeholder in the City of Solna and it is therefore important for both us and the municipality that AIK Fotboll can continue to grow in an environment in which we, and our players, trainers and members, can thrive."

Our youngsters benefit greatly from sport, as they get to meet and interact with their teammates and dedicated adults. They also need idols and role models to look up to in their club and the national teams. We want to help ensure that football continues to be a positive force in Solna. And what is good for Solna and AIK is also good for Fabege.

For Fabege it is important to make investors aware of our high quality and our long-term approach. We’re delighted to have received this acknowledgement of the company’s financial stability via the affirmation from Moody’s.

- We are very pleased that the Swedish National Agency for Education has chosen to stay with us, after evaluating a large number of other potential premises. This testifies to the great attractiveness of Solna Business Park, with its mix of companies, authorities and service outlets, as well as the value of its proximity to public transport.

We want to, we can and we will make a difference. “The reuse hub is a catalyst that enables a greater degree of reuse in Fabege’s business operations. In the long term, we also want to open it up to other participants, like a DIY store for the property industry, but with reused materials,.

We need to create the right conditions to enable circular material flows. This means building primarily with recycled materials and also with materials that have a high proportion of recycled or renewable content. Our goal is that at least 20 per cent of the materials used in a redevelopment project are circular.

We disseminate information about our reuse strategy and share our experiences, systems and working practices regarding reuse. There is great interest in the industry and we believe the whole sector can move forwards together. The potential of the reuse market for construction materials is huge.

We are very proud that Saab has chosen us as its partner to create a new workplace in Solna for its employees. The fact that even in the current market we at Fabege are making one of Sweden’s largest lettings is a sign of strength.

We saw stable earnings with increased rental income and improved operating surplus that almost met increased interest expenses. The interest rate trend has led to higher yield requirements and continued pressure on property values.

We consider this year’s GRESB result to be further proof that we are a leading company with our ambitious sustainability agenda. We have the industry's lowest energy performance, at 73 kWh/sqm Atemp, we environmentally certified our entire portfolio already three years ago and we were the first Swedish property company to achieve 100 percent green financing.