Fabege signs land allocation agreement in Flemingsberg

NACKA, Sweden, March 12, 2021 /PRNewswire/ -- Fabege and Huddinge Municipality have signed an agreement on land allocation in Flemingsbergsdalen. The agreement provides for Fabege to be granted exclusive rights to negotiate with the municipality on land acquisition and development on the basis that Fabege will develop the land in accordance with the existing planning programme.

The intention of the parties is for the areas of land allocated to be subject to new local plans. The current area covers a total of about 220,000 sqm, of which 190,000 sqm is for commercial space and 30,000 sqm for residential. Based on agreed prices and the estimated distribution between commercial and residential properties, the total purchase price is estimated to be just over SEK 800 million.

As a result of the land allocation agreement, Fabege will pay an additional purchase price to WA Fastigheter of SEK 270 million.

"The land allocation agreement with Huddinge Municipality is the next important step in Fabege's development of Flemingsbergsdalen. The agreement reinforces Fabege's presence and control over future developments. We're pleased to continue our planned development of Flemingsberg in partnership with Huddinge Municipality," comments Stefan Dahlbo, CEO at Fabege.

Flemingsberg is already a location that brings together approximately 15,000 residents, higher education, world-leading research, government agencies and companies. Flemingsberg is therefore designated as a regional centre and promoted as a natural hub for the infrastructure of tomorrow. With regional and national investments already approved and the local conditions that are already in place, Flemingsberg has unique opportunities to grow and create a balance in the range of primarily workplaces between northern and southern Stockholm. The development plans for the whole of Flemingsbergsdalen cover a total of over 1 million square metres intended for housing and commercial use.

The vision for 2050 is for Flemingsberg to be one of Sweden's most significant centres for education, research and attractive housing. An inspirational hub, where innovation and collaboration promote sustainable societal development. Flemingsberg will be a natural location to establish knowledge-intensive enterprises, and a much sought-after place to live.

For further information, please contact:

Stefan Dahlbo, President and CEO, tel. +46 (0)70-353 18 18, stefan.dahlbo@fabege.se

Klaus Hansen Vikström, external vice president, tel. +46 (0)70-239 34 81, klaus.hansenvikstrom@fabege.se

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https://news.cision.com/fabege/r/fabege-signs-land-allocation-agreement-in-flemingsberg,c3304575

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