SUCCESSFUL YEAR WITH FOCUS ON NEW PROJECTS
With extensive investments in new homes and offices in the Swedish metropolitan regions, Stena Property continued its ambitious growth plan during 2020, which was a successful year in terms of occupancy rate and sale of owner-occupied flats.
Stena Property is one of Sweden’s largest private property companies. It owns and manages approximately 2.5 million square metres in around 25,700 residential properties, and 4,000 commercial premises in the metropolitan regions of Stockholm, Göteborg and Malmö. The portfolio also consists of commercial properties in other countries. The majority of these properties were sold at the end of January 2021 as part of a restructuring of the international property portfolio. The occupancy rate for the holdings in Sweden was 98 per cent in 2020, and for holdings abroad it was 91 per cent. During the past year, Stena Property received a number of awards, including a Sweden Green Building Award for new Masthuggskajen in Göteborg, a design award for Folkets Hus in Fisksätra, and appointed Property Manager of the Year under the Real Estate Øresund Award.
FOCUS ON RELATIONSHIP MANAGEMENT
In 2020, Stena Property celebrated the 20th anniversary of its “Relationship Management” concept, which ranges from creating a safe physical residential environment to collaboration with other actors to develop both residential areas and individuals. “Caring for people and the environment creates value for our portfolio and we are continuously looking for new ways of increasing well-being and people’s pride in their homes. During the year, we had extra focus on creating summer positions for young people, for instance. With 356 such jobs, we recorded an all-time high for these. Besides property maintenance, their task was to organise outdoor activities to engage children and other young people during the summer holidays. Our own personnel were also involved in this,” says MD Cecilia Fasth.
MORE THAN 1,000 NEW HOMES PER YEAR
Stena Property continued to expand strongly in 2020, with focus on several large new projects. These include residential units and offices that are being constructed on a new peninsula at Masthuggskajen in the classical Stena area in Göteborg, the unique district being created in SKF’s historical area in the same city, and the new Vega district in Haninge, south of Stockholm. Initiatives during the year also included the commencement of the conversion of a school in Fisksätra, one of the most important elements of the development of this Stockholm suburb, as well as a new sheltered housing scheme for the elderly in Tynnered, Göteborg. In 2020, a new office property in France was also inaugurated. Parallel to this, almost 1,100 existing homes were renovated. “Our ambitious plan is to continue to grow by around 1,000 homes per year,” says Cecilia Fasth.
In some of Stena’s properties, the ground-floor space is rented out to small enterprises, such as restaurants and travel agents. These sectors were affected severely by the pandemic, and Stena Property made intensive efforts during the year to support these enterprises with rent discounts, for example. This revenue loss was offset by stronger sales of owner-occupied flats than expected, so that the business area returned a profit in line with the budget.
HOLISTIC APPROACH TO SUSTAINABILITY
Stena Property has a strong track record within social responsibility and is now raising the bar in the environmental area, with the goal of halving CO2 emissions by 2030, compared to the 2018 level.
“To achieve this goal, we’re reviewing everything we do, from only using renewable district heating, to introducing electrical service vehicles,” says Cecilia Fasth. In the operation primarily renewable electricity’s used. There is naturally a strong focus on the newbuilding projects that are Stena Property’s largest source of emissions.
In 2010, Stena Property set the goal of reducing energy consumption by 20 per cent up to 2020. The reduction of energy consumption since 2010 is equivalent to the annual household electricity consumption of a town with a population exceeding 30,000. “We’re proud that we’ve actually exceeded the goal during this ten-year period, by reducing heat consumption by 30 per cent, electricity consumption by 38 per cent, and water consumption by 21 per cent. Now we’re taking on this new challenge of halving CO2 emissions by 2030,” comments Cecilia Fasth.
Stena Property ramped up its sustainability work in several areas during the year. They also exceeded its 2020 targets for electricity, heating and water. Stena Property introduced an improved calculation method for CO2emissions during the year, which means that the CO2emission figures for 2019–2018 have been updated on the basis of the new calculation method. The reduction of CO2emissions for scope 1–2 during 2018–2020 represents actual savings as a result of e.g. the transition to green electricity. The reduction in emissions for scope 3 is a consequence of a lower activity rate in 2020.
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