Ericsson Relocating Headquarters from Kista to Central Stockholm
Ericsson is moving its global headquarters out of Kista and to a new city campus in the Hagastaden district, north of central Stockholm, starting in 2028. This move marks the largest office lease in Swedish history.
Key Points:
- Relocation Plan: Ericsson will gradually relocate its Stockholm operations, including R&D functions, group functions, and the Imagine Studio showcase space, to Hagastaden.
- Square Footage: The company will occupy approximately 71,000 square meters across six buildings in Hagastaden.
- Leases: The leases involve Atrium Ljungberg and Castellum, with annual rent reaching around 360 million kronor ($39 million) at 2026 levels.
- CEO's Take: Börje Ekholm, Ericsson’s CEO, highlighted the benefits of the location for attracting top talent and fostering innovation.
- Market Trends: The shift reflects deteriorating conditions in Kista, known as Sweden's Silicon Valley, with rising office vacancy rates and security concerns.
- Impact on Landlords: The leases are seen as positive for Atrium Ljungberg and Castellum, with their share prices increasing following the announcement.