Mall of Scandinavia – Another key component in place for Arenastaden’s continued development
As part of a transaction with Unibail-Rodamco, Fabege’s co-owned company Råsta Holding has divested land worth SEK 630m for the construction of the Mall of Scandinavia shopping centre. In conjunction with the transaction, Fabege is also acquiring, from Råsta Holding, the right to develop 45,000 sqm of office space at a value of SEK 70m. The transaction with Unibail-Rodamco confirms and strengthens Fabege’s vision of Arenastaden as the meeting place for companies of the future.
For Fabege, which owns most of the existing commercial properties in Arenastaden, the transaction boosts the attractiveness of the area. Arenastaden will now be able to offer a unique combination of fantastic experiences, shopping, residences for an urban lifestyle, a design hotel featuring a large conference centre, modern offices offering comprehensive service and exceptional transportation possibilities.
Fabege’s wholly owned portfolio in Arenastaden totals 425,000 sqm of commercial floor space, of which existing space accounts for 200,000 sqm and development rights for 225,000 sqm (including the acquisition).
“This is one of the most exciting projects in my businesslife. The Mall of Scandinavia represent something unique in the whole of northern Europe and together we will create a strong offer,” says Erik Paulsson, Chairman of the board of Fabege.
“The fact that the Mall of Scandinavia now will be realised feels incredibly inspiring and very exciting. It will accelerate the development of Arenastaden and it constitutes a key component in the plan to achieve the vision of Arenastaden as the meeting place for companies of the future,” says Christian Hermelin, CEO of Fabege.
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Erik Paulsson, Chairman of the board, Fabege, phone 46 (0)73 387 18 18
Gunilla Möller, IR and Press Coordinator, Fabege, phone 46 (0)8 555 148 45, 46 (0)72 232 41 03
This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 07.00 a.m. CET on 23 December 2011.
Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The carrying amount of the company’s property portfolio is approximately SEK 28.7bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.1bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.
Tags: