Two of the most prominent among the listed Swedish property companies, Fabege and Atrium Ljungberg, reported their Q1 results on Friday, April 12th.
Fabege’s result from property management grew by 33 per cent to SEK 366 million.
” The year began with rising rental income, improved profit from property management and continued value growth, primarily via projects and higher rent levels. I see no signs of a slowdown at this time. The rental market in Stockholm is still characterized by low vacancies and increasing rents. The negative net lettings during the period were the result of the decision by the Swedish Tax Agency to move to new premises”, Christian Hermelin, CEO, summarised.
Atrium Ljungberg reported a healthy profit from property management, SEK 306 million, albeit slightly lower than in 2018.
“I’m proud that we’ve developed our future project portfolio, enabling us to increase our investment goal to SEK 2 billion per year in own properties”, says Annica Ånäs, CEO Atrium Ljungberg, in a press release.
“We have taken a very strong strategic approach to the future, which is reflected in our quarterly report. We deliver a stable result”, she continues.