Real-estate market and valuation risk
A large part of the group is tied to property ownership, development, and listed real-estate assets.
- Scope
- Swedish property market
- Materiality
- high
Tagehus Holding
Tagehus Holding AB is a Swedish family-owned holding company with a multi-generational presence in real estate and related investments. The group combines direct property ownership and development through Credentia with holdings in listed real-estate-related companies and other investment activities.
| % | |
|---|---|
| Property ownership and development | 45% Ownership, development, and construction of residential and community-use properties. |
| Listed core holdings | 30% Active ownership stakes in listed real-estate-related companies and shares. |
| Bath and wellness facilities | 10% Operation of bath and fitness/wellness-related facilities. |
| Other investments | 15% Capital allocation into additional financial and strategic investments. |
Tagehus serves a mix of public-sector, institutional, and private counterparties depending on the segment...
- Municipal and public-sector buyersprimary
Buy or lease schools, care homes, fire stations, and other community facilities.
- Care and welfare operatorsprimary
Use purpose-built elderly care and social infrastructure premises.
- Property investors and listed peerssecondary
Represent the investment exposure in listed real-estate-related companies.
- Private leisure and wellness userssecondary
Use bath and wellness facilities operated within the group.
The group is anchored in Sweden, with Credentia operating in Roslagen and northern Greater Stockholm and headquartered...
- •Sweden is the core operating market
- •Credentia operates in Roslagen and northern Greater Stockholm
- •Headquarters are in Norrtälje, Sweden
- •Listed holdings are concentrated in Swedish real-estate names
- •Local Swedish property demand shapes project pipeline and returns
Tagehus focuses on long-term value creation through ownership, development, and construction rather than short-term...
01
Expand and execute property development projectsmedium-term
Development activity is a core source of long-term value creation and project pipeline visibility.
02
Maintain active ownership in listed real-estate holdingslong-term
Listed stakes provide strategic influence and exposure to the Swedish property market.
03
Allocate capital across multiple real-estate-linked segmentslong-term
Diversification reduces reliance on any single project type or income stream.
Tagehus is exposed to Swedish real-estate and construction-cycle risk, including project timing, permitting, financing,...
Project execution and permitting risk
Development projects can be delayed or become more costly if approvals, construction, or counterparties change.
- Scope
- Credentia development pipeline
- Materiality
- high
Interest-rate and refinancing risk
The group discloses räntebärande nettoskuld and räntebindning, showing sensitivity to funding costs.
- Scope
- Group-level debt and property financing
- Materiality
- high
Equity market volatility in listed holdings
The value of listed core holdings can move sharply with market sentiment and sector multiples.
- Scope
- Atrium Ljungberg, John Mattson, K2A, SAGAX, Besqab
- Materiality
- medium
Fair value of listed holdings and investment properties
Can materially change net asset value and leverage metrics
Project cost capitalization and timing
Affects gross margin timing and reported earnings
Net debt and gearing calculations
Influences how investors assess financial risk
: 11/08/2026