SCANDINAVIA - Schroder Property, the real estate arm of London-based €164.4bn Schroders, has further strengthened its presence in Scandinavia with the appointment of Ubbe Strihagen as director of business development for the Nordic region.

The move follows the arrival of Christoffer Sundberg in July to lead Schroders Nordic investment operations as head of property fund management and John Harding who heads the company's client relationship team in Copenhagen but is based in London as business development director.

Like Sundberg, Strihagen (pictured) joins Schroders from Stockholm-based Aberdeen Property Investors where he was an international director with specific responsibility for the firm's global business development and marketing.

Schroders said Strihagen will work closely with Harding to further its expansion across Sweden, Denmark, Finland, Norway and Iceland.

The move to build up its Nordic presence began when Schroders bought German property investment specialists Aareal Asset Management in 2006.

The deal, worth €28m, saw 99.75% of the €1.9bn Aareal company transfer to Schroders and hence a firm foothold in the Continental European markets Aareal had built a solid presence in.

Expanding across Scandinavia seemed a logical step, Schroders claims, as institutional investors in the region are keen to become major players in the international property markets.

"One of our key objectives following Schroders' acquisition of Aareal was to strengthen our property business in the Nordic region," said Michael Clarke, head of property distribution at Schroders.

"This included strengthening our relationships with institutional investors in the region, as some have been at the forefront of international diversification in real estate through unlisted funds. However, there are many who are at an early stage in their international allocations. Strihagen will thus use his extensive network of relationships in the region to strengthen our Nordic business," he added.