Our development projects create a well-proportioned balance between economic, social, ecological and cultural development. This results in vibrant areas featuring a favourable mix of offices, stores and residential units, as well as excellent transport opportunities and environmental consideration.
The company has vast expertise and extensive experience from running property development projects, and strives to attract long-term tenants for properties that have not yet been fully developed and can be redesigned based on the customer’s requirements.
Fabege’s project investments are forward-looking and designed to improve the environmental characteristics of the properties and reduce vacancy rates, thereby improving cash fl ows and capital growth. The company’s properties are developed and improved in response to changing demand. Project plans are developed for new constructions, while properties with development potential are acquired, developed to add value, and then either transferred to the Group’s investment portfolio or sold. New constructions and more extensive development projects are always based on the principles of the EU GreenBuilding programme.
Projects aimed at adding value to land and buildings run over a longer period, often 10–15 years. In many cases, the planning work is initiated in partnership with the local authority in the area where the property or land is located. Together, we create visions for how to develop the area in the best way for the residents, for society as a whole and for Fabege.
Responsibility for new constructions and development projects, procurement and follow-up rests with the Projects department. The department is selfsufficient in terms of project expertise. Construction services are, however, procured externally. During the year, the department expanded due to an increased need for proprietary resources.
Activities in 2010
In 2010, the Projects department focused on adding value to Fabege’s existing properties in about ten major property development projects in the Stockholm region, and in particular, Vattenfall’s new head offi ce in Arenastaden. Some SEK 0.9bn was invested in existing properties. The department also worked with assuring internal processes to improve efficiency and quality.
Focus 2011
Project volumes are expected to rise in the coming years and the activities will be focusing on developing the new Arenastaden district in Solna, and three major development projects in Stockholm inner city: Apotekaren 22, Klamparen 10, and Bocken 39.