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The Stockholm real estate company Fabege rises on Friday's report
At the time of writing these lines, Fabege's share is up about 5% on a marginal backing of the stock market Stockholm, according to Infront. Chief Executive Christian Hermelin notes in the interim report that Fabege's rental and management income results for the second quarter of 2017 improved to $ 623 million ($ 562) and $ 298 million ($ 233), respectively.
Unrealized changes in real estate value during the quarter amounted to 2,578 million Swedish kronor (1,156). Of this amount, SEK 447 million was for projects (316). The rest is explained by higher rent levels and lower yield requirements
As rents continue to renegotiate at "ever higher levels" and performance requirements continue to decline, Christian Hermelin sees the prospect of a positive development. But with the economic forecasts we see today, I believe that Fabege will continue to grow strongly and even in a weaker economy, many of our good conditions are catching up, "he writes.
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