Swedish property firms Fabege and Skanska have joined forces to acquire 150,000 m2 of land near the Mälarbanan railway line extension in Solna, north of Stockholm in Sweden for SEK 900 mln (€90 mln).
The two partners plan to develop 52,000 m2 of office space and 10,000 m2 of residential accommodation with 1,000 new homes on the site, which is expected to benefit from the extension of the Mälarbanan railway line. Construction of the railway line is expected to kick off in 2023 with the new buildings planned to be built between 2030 and 2040.
‘The development of central Huvudsta is by far Solna’s largest and most complex urban development project, as the railway will be put underground and lined with new buildings. It therefore feels good that we are working with two companies that have extensive experience of urban development in complex metropolitan environments,’ said Pehr Granfalk, Chairman of the Municipal Executive Board in Solna.
‘Along with our current development of Arenastaden, Haga Norra and Solna Business Park, the land acquisition is a natural addition that contributes to new value-creating opportunities in Solna in a long-term perspective. The geographical location and Solna’s many advantages mean that we are keen to increase our portfolio in the area,’ said Stefan Dahlbo, President and CEO of Fabege.
