By Dominic Chopping
STOCKHOLM--Swedish property company Fabege AB (FABG.SK) said
Friday it has signed a 20-year lease with SEB AB (SEB-A.SK) for
premises at Arenastaden, in the Stockholm suberb of Solna.
SEB will take large portions of its operations in Stockholm and
create 4,500 workplaces in new office buildings.
The annual rental value is SEK157 million, excluding
supplements.
"Arenastaden provides us with an excellent long-term solution
for locating our premises in Stockholm, which is where we are
currently concentrating the majority of our operations," said SEB
chief financial officer Jan Erik Back.
The total project cost is about SEK2.3 billion and the new
office buildings are scheduled to be completed and enter use in two
stages, with the first being in May 2017 and the remainder in May
2018.
Shares closed Thursday at SEK89.40, valuing the company at
SEK196.16 billion.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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