Fabege: Financial contribution for subway expansion

Regulatory News:

Fabege (STO:FABGA) will be contributing SEK 100m to the City of Solna’s co-financing of the subway to Arenastaden. The payments will be distributed evenly during the construction period, which is scheduled to commence in 2016 and completed in 2022.

"Arenastaden’s attractiveness will further increase thanks to the communication hub that will be created with the subway expansion. This will facilitate access to commuter trains, subway services, the light railway and buses, which is also why it has been logical for us to be involved and contribute financially to the expansion,” says Christian Hermelin, CEO of Fabege.  

Fabege owns 200,000 sqm of office space in Arenastaden and has the development rights for an additional 250,000 sqm of offices in the area. In addition to the office space, Fabege is joint owner of housing development rights, as well as the Friends Arena, which will also benefit from the subway expansion.

Fabege AB (publ)

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 6.00 p.m. CET on 31 March 2014.

Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. Fabege owns properties with a carrying amount of SEK 33.4bn. The portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.4bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.

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