Leasing and occupancy risk
Rental income depends on keeping space let across office, retail and mixed-use assets.
- Scope
- Tenant demand in growth-region submarkets
- Materiality
- high
Atrium Ljungberg
Atrium Ljungberg is a Swedish property company focused on owning, managing and developing commercial and mixed-use real estate in growth cities. Its portfolio is concentrated in Stockholm, Uppsala, Gothenburg and Malmö, with a particular emphasis on large, contiguous urban districts and project development.
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| % | |
|---|---|
| Property management | 55% Ongoing ownership, operation and leasing of income-producing properties. |
| Office properties | 30% Office space and workplace environments in major Swedish growth areas. |
| Retail and service premises | 10% Retail, restaurants and other customer-facing premises in mixed-use districts. |
| Project development | 5% Development of new buildings and district projects for future leasing and value creation. |
Atrium Ljungberg’s customers are tenants that lease space in its properties, especially office occupiers, retailers and...
- Office tenantsprimary
Companies leasing office space in Stockholm, Uppsala, Gothenburg and Malmö for central, high-quality workplaces
- Retail and service tenantsprimary
Shops, restaurants and service operators leasing premises in mixed-use districts to capture local traffic
- Public-sector and institutional tenantssecondary
Municipalities, agencies and institutions leasing space for stable, long-duration occupancy
- Education, culture and healthcare tenantssecondary
Operators leasing specialized premises in district developments with community functions
- Residential tenantssecondary
Households leasing apartments in selected mixed-use projects and districts
The company’s core operations are in Sweden, with properties concentrated in Stockholm, Uppsala, Gothenburg and Malmö...
- •Sweden is the core market for ownership, leasing and development
- •Stockholm is the largest and most strategic operating area
- •Uppsala, Gothenburg and Malmö diversify the portfolio
- •Four Stockholm districts anchor major project development
- •Urban locations matter because they support tenant demand and long leases
Atrium Ljungberg’s strategy is to own and develop large, contiguous urban areas where it can combine property...
01
Concentrate capital in strong urban growth locationsmedium-term
Prime locations support tenant demand, leasing stability and long-term asset value.
02
Develop mixed-use districts with multiple tenant typesmedium-term
A broader tenant mix reduces dependence on any single use and strengthens place-making.
03
Maintain active property management and leasing qualityshort-term
Stable occupancy and tenant relationships are central to recurring property income.
04
Advance sustainability and climate targetslong-term
Sustainability is embedded in the company’s district model and supports long-term competitiveness.
The main business risks are leasing demand, property valuation, project execution and financing, all of which are...
Property valuation risk
Reported asset values are sensitive to yield assumptions and market pricing.
- Scope
- SEK 61.6 billion property portfolio
- Materiality
- high
Project execution risk
Development projects can face delays, cost inflation and permitting complexity.
- Scope
- District development in Stockholm and other growth areas
- Materiality
- high
Financing and interest-rate risk
A leveraged property model is exposed to refinancing costs and covenant headroom.
- Scope
- Loan-to-value and interest coverage constraints
- Materiality
- high
Geographic concentration risk
The portfolio is concentrated in a few Swedish urban markets, so local downturns matter.
- Scope
- Stockholm, Uppsala, Gothenburg and Malmö
- Materiality
- medium
Fair value measurement of investment properties
Market yield and valuation assumptions
Derivative and hedge accounting
Net financial expenses and balance sheet liabilities
Seasonality in operating costs
Quarterly operating surplus comparability
Development property classification
Balance sheet composition and valuation gains/losses
Deferred tax on property values
Reported tax expense and net profit
: 11/08/2026