Airport operator Swedavia, and pension management company, Alecta, have signed an agreement to jointly manage 20 properties across Stockholm Arlanda Airport, Malmo Airport and Gothenburg Landvetter Airport (pictured) in a deal worth 3.9 billion kronor ($461 million).
The agreement will cover 260,000 square metres of space for logistics, hangers and offices. Arlanda’s Cargo Center and Gothenburg’s Cargo North and South centre. Swedavia will be managing the development through its subsidiary, Swedavia Real Estate.
When the deal was announced in June, Swedavia chief executive officer (CEO), Torborg Chetkovich (pictured), said: “The collaboration gives us a stable foundation, which Swedavia can continue to work and invest to develop our international hubs and thus enhance Swedish access.”
In May, groundbreaking work started on a logistics facility at Gothenburg to be leased to DHL Express for 10 years. It is due to be completed in early 2016. The 7,500 square metre facility will replace DHL’s existing 1,700 square metres of space and will be built adjacent to the Northern section of the airport.
At Airport City Gothenburg, an area of about two million square metres is being planned for development, of which 100,000 square metres is reserved for logistics.
When representatives from Swedavia, DHL Express and the facility’s building contractor, Veidekke, broke ground in May, Swedavia Real Estate property manager, Stefan Stenberg said: “DHL is a strong player, and its investment is a very good way to enhance Airport City Gothenburg as a destination for logistics and drive development in the entire region.”
At the time, DHL Express Sweden CEO, Ted Soderholm commented: “Our customers will benefit as a result through increased service quality, with faster deliveries and later pick-ups.”
In February, Swedavia Real Estate signed the development agreement with logistics and property developer, Bockasjo, to develop Landvetter Logistics Park at Gothenburg Landvetter Airport. The work started with 170,000 square metres of land being prepared for constructing 100,000 square metres of logistics properties, warehouses and offices.
Swedavia Real Estate chief executive, Karl Wistrand, said at the time: “This agreement is an important step in the continued development of Gothenburg Landvetter Airport as a hub for travel and logistics in the region.”
Bockasjo chief executive, Joakim Hedin, said: “Based on goods flows and customer demand, we believe there is significant potential for the development of highly efficient logistics and distribution facilities here.”
Swedavia made a profit of one billion kronor ($118 million) in the first half of 2015, compared to 699 million kronor for the same period of 2014. Revenue in the first half of 2015 was 2.7 billion kronor, up from 2.6 billion kronor for the same period of 2014.