The Nordic property market was heavily impacted in 2022 by high levels of inflation, rapidly rising interest rates, a cautious bond market, and an economic slowdown. At the same time, the rental market and demand for offices and warehouse/logistics properties were strong, and Castellum delivered increased net lettings for the twelfth consecutive quarter. The acquisition of Kungsleden led to an increase in earnings capacity and contributed 28 per cent growth in income from property management for 2022. The prospects for 2023, however, are divided, and we will face the challenges ahead with humility. Operationally speaking, Castellum’s properties and projects are moving along at a good pace while the finance market is marked by continued uncertainty.
It is extremely gratifying to receive further confirmation that our strategy is effective, and that interest in sustainable investments continues to increase
It is extremely gratifying to have placed so high in international rankings, but our focus is on future-proofing our own operation and continuing to promote the necessary climate transition
This is one of the first NollCO2 certifications in Sweden. There are only a few properties in Sweden that are certified under NollCO2, which makes us especially pleased and proud to lead the way
It is very gratifying that Blå Stjärnan chose Castellum as a partner in its venture to become one of Sweden’s leading animal hospitals
Vi är glada att kunna överlämna ett så fint bestånd till en långsiktig och stabil part som Regio
Castellum will continue to work hard to be at the forefront and I am convinced that sustainable operations will also ensure profitability going forward
It is obvious that our sustainability work begins to resemble an internationally winning concept. That's nice, of course, but we're not here to win medals.
We are experiencing a great demand for office space with proximity and opportunity for good communications. Being able to offer this office solution for the Region feels very good. The Region is a large employer whose employees now get to meet the working life of the future in new and adapted premises and we at Castellum are happy and proud of being trusted with this major commitment
Especially gratifying is that we are now also ranked as the world’s most sustainable developer of offices (with 99 points out of 100)
It feels good to take position in Solna Strand, a well-established office cluster with great communications and service facilities
A state-of-the-art building in a dynamic new district combining functionality and inspiring environments
Now we can become even better at meeting our customers' growing interest in health and well-being
This is a collaboration that will benefit Gothenburg's competitiveness and create new jobs in the region
Our strategy to grow in the Nordic region and emerging markets such as Copenhagen remains unchanged
We expect great interest from prospective tenants and have already several interesting dialogues underway
It feels great to have started construction of our third large property in Brunna. I expect great interest and quick rental of this attractive project
The plans are still at an early stage, but I have high hopes for another successful investment in central Stockholm
With SEEL on board we gain additional power to the vision of a national center for fossil-free mobility both on the ground and in the air
I am very happy that we may enter the new year with these four strategic acquisitions in logistics. We see great potential in all these deals
Infinity will have all the qualities that guide us when we build for the future.
The area is one of Stockholm's most interesting development areas. Through this deal, we increase our opportunities to build and offer office volume in a strategic development cluster
Västerås is a growth city with a strong influx and a prosperous business community, and we are really happy with this acquisition in the very heart of the city Henrik Saxborn, CEO of Castellum AB
It feels great that we have made a good acquisition in a good submarket. We signal our ambition to be active in the continued expansion in Helsinki
It is a great recognition and a strong signal to the entire global real estate market: if we can, so can you
I view the ranking as proof that our strategy is right, that we do a really good job and that focusing on sustainability is profitable
Thanks to pre-leasing of as much as 50% to tenants with faith in the future, we can now start developing a workplace with all the qualities that belong to tomorrow's working life
A very gratifying decision which also means that we can build in direct connection to our current properties at the northern end of Östra Nordstan
Our goal is not to win prizes and medals, but to make the greatest possible effort to both secure long-term sustainable business and to counteract climate change that threatens the entire planet
Kalasatama has great potential to become a truly dynamic area. By taking a place there, we are significantly strengthening our position in Helsinki, where we also intend to expand further
We remain humble in the face of troubled times, but the good start of the year means that our shareholders can look forward to a higher dividend for the 23rd year in a row
We are proud to have been selected for this important mission, and look forward to collaborating with other companies to help enabling rapid sustainable development
We see strong and growing interest from customers, and the ongoing corona pandemic is likely to further drive demand for health promotion that is the core of the WELL concept
After our strong first six months, I humbly believe that 2020 will eventually result in increased income from our property management, and thus also the dividend, for the 23rd consecutive year
It is an honour to once again be working on behalf of the Swedish justice system.
By spotlighting the climate impact of actual construction activities, we can revolutionize an area that our entire industry has neglected for years
We’re now taking a major step in the right direction to build more climate-smart while we contribute to a more sustainable community"
We’re happy over the possibility of acquiring this office property in central Malmö. The Öresund region is important for Castellum, and our largest investments ever are taking place right now In Malmö with two new construction projects that will house the Swedish National Courts Administration and the E.ON international energy company as major tenants. This acquisition complements those investments very well.
It feels great that the building permit has now been granted and we can begin construction. We are proud that we’re getting to build this fantastic building with the state-run Swedish National Courts Administration as long-term tenants. It’s extra fun to be simultaneously constructing E.ON’s new headquarters right across the street. Altogether, the investments add up to approx. 2.6 billion kronor.
The first quarter has been strong, featuring an increase in income from property management with 9%, thanks to good cost control, efficient property-management work, along with contributions from completed projects. Further, it should be factored in that financial results for this period were only marginally affected by the ongoing Covid-19 crisis.
With Covid-19 hovering in the background, future development is difficult to assess, and timing will be everything when considering possible effects on Castellum. I am humble before the fact that our entire society will be affected but feel confident that our stable relationships with our customers and financiers, as well as the commitment and competence of our coworkers, will take us through these adverse times. It’s extra gratifying that we can continue to invest in important city development projects, such as E.ON’s new headquarters and the Swedish National Courts’ major project in Malmö. And we have more government projects on the drawing table.
In these times of concern caused by the Covid-19 virus, it feels gratifying to continue investing in important city-development projects such as E.ON’s new headquarters. This project is Castellum’s largest ever and it will strengthen both our cash flow and balance sheet with a long leasing contract and a solid customer.
We have had a good collaboration. Carola has received an offer witch she has chosen to accept. We wish her the best of luck in her new assignment
We welcome Helena, whose broad experience will promote continued development of our culture and leadership philosophy, to invest in the best resource we have: our coworkers.
I look forward to becoming part of Castellum and the company’s ambitious plans for the future. With my experience in leadership development and employeeship, I hope to help strengthen Castellum’s powers of attraction as an employer in these days of very fierce competition for talent.
The investment we’re planning for Västerås is in line with our strategy of adding to our property portfolio with modern offices for companies as well as for state authorities and government agencies. The building will be constructed in an attractive area under rapid expansion. It’s the kind of background we see as a very good investment.
I'm incredibly proud to conclude both the year, and the decade, by stating that we're raising our dividend for the 22nd year in a row, and we’ve increased income from property-management by 7%. Over the last ten years, Castellum has undergone tremendous change in geography, segment consolidation and operational areas. This year we have also entered a completely new activity sector – coworking – through the acquisition of United Spaces. This initiative means that our operations will feature a rather expanded portion of interior-content service.
It should be noted that we operate in strong markets with stable leasing growth. Of course, we'll utilize our position and strength to create further growth and strive to achieve our challenging target of 10% growth in income from property management.
We’re extremely grateful that Ahlsell has once again placed trust in us to build their new operating facilities. We’ve enjoyed really good experiences from our previous cooperation. The fact that the facilities will be built in a very attractive location, with great access to transportation channels, makes the project even more exciting.
Lund is situated in the expanding business region of Öresund and the city enjoys a long tradition of research and entrepreneurship that includes major international and national players. This sort of background convinces us that we’re making a very strong investment for Castellum.