Fabege sells properties in Vallentuna, Huvudsta and Spånga

Fabege sells properties in Vallentuna, Huvudsta and Spånga

Effective 30 June 2010, Fabege has sold the property Vallentuna Rickeby
1:480 to JKTB Ny Prod o R.O.T. AB for a purchase consideration of SEK
6m. The after-tax gain on the sale was SEK 3m, which is being recognised
in profit in the second quarter. 

Effective 1 July 2010, Fabege has sold the property Vallentuna Rickeby
1:477 and an additional approximately 20,000 sqm of land (part of the
Vallentuna Rickeby 1:327 property) to Greater Stockholm Public Transport
Company. The property comprises a developed site with a service building
for buses. In addition, Fabege has sold part of the Rovan 1 property to
Peab. The divested portion pertains to about 18,000 sqm of residential
development rights located on or by Huvudsta centrum. The total purchase
consideration for the two transactions is SEK 146.5m. The after-tax gain
will be SEK 28m, which will be recognised in profit in the third
quarter. 

“As a result of our planning work, we have generated favourable
development gains. We have now chosen to divest land and development
rights without this generating a return in order to invest instead in
profitable office projects in our high-priority areas,” comments
Christian Hermelin, President of Fabege. 

Fabege AB (publ)

For further information, please contact:
Christian Hermelin, CEO, phone +46 (0)8-555 148 25, +46 (0)733-87 18 25
Åsa Bergström, Deputy CEO and CFO, phone +46 (0)8-555 148 29, +46
(0)706-66 13 80
Annette Kaunitz, Head of Corporate Communications, phone +46 (0)8-555
148 20, +46 (0)708-39 03 37