ALM Equity

ALM Equity is a Swedish real estate development and investment company focused on urban housing and related property assets. Its business spans the full property value chain through development, construction, and property management, with most activity centered in the Stockholm area.

— ALM Equity
%
Development45% Acquisition, planning, concept development and sale of housing projects.
Entrepreneurship / Contracting35% Full-scope construction execution for internal projects and external clients.
Property Management15% Operation, leasing and management of rental housing and commercial premises.
Investment and Asset Structuring5% Packaging, financing and restructuring of property assets and holdings.

ALM Equity sells and develops housing for a broad base of end buyers seeking efficient homes in well-connected urban...

  • Residential homebuyersprimary

    Buy newly developed apartments and homes in urban, commuter-close locations for owner-occupation.

  • Rental tenantssecondary

    Lease apartments and premises in the managed portfolio for housing or local business use.

  • External contracting clientssecondary

    Purchase construction and project execution services outside the internal development pipeline.

  • Capital partners and co-investorssecondary

    Provide funding or share ownership in projects to accelerate development and reduce capital intensity.

ALM Equity is overwhelmingly concentrated in Greater Stockholm, with reported exposure of 99% to Storstockholm and 1%...

  • •99% of exposure is in Greater Stockholm
  • •1% is in the rest of Sweden
  • •Most homes are within 30 minutes of Stockholm Central Station
  • •Projects are concentrated in Stockholm-area municipalities
  • •Limited exposure outside the Stockholm region

ALM Equity’s strategy is to identify property opportunities with strong long-term value potential and then create value...

01
Concentrate on Stockholm-area housing demandshort-term

The company’s project pipeline and brand are built around the Stockholm commuter market.

02
Maintain control across the property value chainmedium-term

Owning development, contracting and management capabilities supports execution and value capture.

03
Use partnerships and structuring to recycle capitalmedium-term

Co-investment and asset structuring can expand project capacity while limiting capital strain.

ALM Equity is exposed to Swedish housing-market cyclicality, project execution risk and financing risk because its...

high

Stockholm market concentration

Most projects and housing exposure are tied to one metropolitan area, making results sensitive to local demand and pricing.

Scope
Greater Stockholm
Materiality
high
high

Project execution and construction risk

The company runs development and contracting activities, so delays, cost overruns or quality issues can reduce project value.

Scope
Development and Entreprenad
Materiality
high
high

Financing and interest-rate risk

Projects are financed through capital structures and partnerships, making returns sensitive to funding costs and availability.

Scope
Project-level capital structures
Materiality
high
medium

Planning and regulatory risk

Value creation depends on zoning, permits and detailed planning approvals before projects can be realized.

Scope
Land acquisition and planning
Materiality
medium
Fair value measurement of investment properties
Property value and valuation gains/losses
Development asset valuation and project estimates
Development profit and asset carrying values
Non-IFRS key figures
Investor interpretation of business momentum
Lease accounting
Balance sheet and EBITDA comparability

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: 11/08/2026