Fabege signs major leasing deal with energy giant

Listed real estate firm Fabege has announced that Swedish energy giant Vattenfall has signed an agreement to lease 43,000 m² of office space and parking space in the Solna district of Stockholm municipality. The deal is worth SEK 1.2 bn (EUR 109 mln).

Vattenfall - one of the largest energy producers in Northern Europe - will move its headquarters into a new office building to be constructed adjacent to Swedbank Arena and Mall of Scandinavia. Construction is estimated to start during 2009, once the planning process has been completed, with completion slated for the third quarter of 2012. Fabege said the building will have lower energy consumption than that required by the EU's 'Green Building' classification thanks to the use of solar and wind power.

The contract will run for 12 years with an annual rental value of around SEK 100 mln (EUR 9.1 mln).