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Swedavia and Alecta to combine twenty airport properties in joint venture

2015-06-02, kl. 09:19

Swedavia and Alecta are forming a joint venture to manage twenty major properties for logistics, hangars and offices at Sweden’s three largest international airports. As a result, this ensures a long-term commitment to the properties while enhancing the potential to develop the airports.

Swedavia and Alecta today signed an agreement to form a company for managing twenty major properties at Stockholm Arlanda Airport, Göteborg Landvetter Airport and Malmö Airport. Swedavia and Alecta will own equal holdings in the company. The agreement covers some 260,000 square metres of leasable space for logistics, hangars and offices. The underlying property value is 3,950 million Swedish kronor.

“We are naturally very pleased to have Alecta as a partner. The collaboration gives us a stable foundation on which Swedavia can continue to work and invest in order to develop our international hubs and thus enhance Swedish access,” says Torborg Chetkovich, chief executive of Swedavia.

“It is very gratifying that we have signed a long-term agreement with Swedavia. To be able to acquire part of a property portfolio of an infrastructure nature that generates stable cash flows makes a positive contribution to our total return. The portfolio has attractive development potential which we hope can be realised together with our new partner, Swedavia,” says Fredrik Palm, director of Properties Sweden at Alecta.

Among the properties included in the agreement are the Technical Base, Flight Academy and Cargo Center at Stockholm Arlanda Airport as well as GOT Cargo North & South at Göteborg Landvetter Airport.

Since 2011, Swedavia has worked with property development at the airports through its wholly owned subsidiary Swedavia Real Estate AB. The company creates and realises value which is reinvested in the airports and meets the growing demand for air travel and properties.

In the photo, pictured from left: Karl Wistrand, deputy CEO Swedavia; Per Frennberg, deputy CEO Alecta; Fredrik Palm, director Properties Sweden Alecta; and Torborg Chetkovich, CEO Swedavia.