Swedish property group Fabege is to spend a total SEK 400 mln (EUR 45 mln) on two undeveloped properties in Arenastaden and on upgrading its Hammarby Sjöstad landmark office complex Luma factory.

The two properties in Arenastaden are Pyramiden 3, comprising a land area of approximately 9,200 m2, and Signalen 3, with a land area of approximately 15,600 m2. The sellers are Fastighets AB Granen and Estancia Fastigheter AB, respectively.

The new buys and upgrade of Luma factory are part of stock exchange-listed Fabege’s policy of offering large, integrated office premises. ‘Luma is an incredibly inspirational building that we are now upgrading to maintain its position as Hammarby Sjöstad’s most attractive office workplace,’ says Urban Sjölund, Director of Properties at Fabege.