Fabege sells residential development rights

Fabege sells residential development rights

 

Fabege has divested the forthcoming development rights for residential
properties in Alvik (Racketen 11) and Solna (Styckjunkaren 4) to Peab and JM,
respectively. While the transactions were already agreed upon, the terms and
conditions have only now been fulfilled. Both of the transactions were
implemented as sales of companies and resulted in a combined after-tax gain of
SEK 47m, which will be recognised in the accounts for the fourth quarter of
2011.

“The detailed planning work generated strong value growth for us and the time
was now right for the residential developers to take over,” says Klaus Hansen
Vikström, Director of Business Development at 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
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 13 80
Klaus Hansen Vikström, Director of Business Development, phone +46(0)8 555 148
74, +46(0)70 239 34 81