Swedish developer Fabege has expanded its holdings in the upcoming Flemsingsberg area, south of Stockholm, with the purchase of three properties worth SEK 750 mln (€73 mln) from Vincero Fastigheter.
The properties, dubbed Regulator 1, Batteriet 3 and Batteriet will make way for new office properties, homes and leisure schemes. Fabege said it was already working with the Huddinge municipality to proceed with plans for the area and its infrastructure.
'It is of course extremely exciting that we are up and running with this important project, together with Huddinge Municipality. Attractive workplaces located close to where people live are needed, also on the southern side of Stockholm, and utilising vacant capacity in existing infrastructure is very wise,' said Klaus Hansen Vikström, vice president and director of business development at Fabege.
'We hope that this new city district will create a better balance and more competitiveness in the entire Stockholm region,' he added.
Fabege said that the aim was to renew and develop the area around Flemingsberg station to create a place for 50,000 jobs, 50,000 residents and 50,000 visitors to Flemingsberg.