In 2025, we reached new record levels in rental income, and our operating profit increased by 11 percent, adjusted for value changes in joint ventures. This shows that our strategy—focused on the right locations and the right projects over the long term—delivers stable and sustainable growth, even in a rental market that is cautious in certain segments.

In recent years, our ability to adapt has been tested as several major tenants have had changing needs. Our strength has been in managing these transitions quickly and in a structured way, while continuing to develop our properties, enhance the attractiveness of our areas, and drive growth in rental levels. During the year, net leasing was positive at SEK 77 million for the full year.

Lettings

In April, the Danish construction group Per Aarsleff A/S signed a 15-year lease for 24,000 m2 at Ejby Industrivej 41 in western Copenhagen. The extensive property, which had previously been let to Danske Bank, is being developed in parallel by Wihlborgs as a promising development project

Wihlborgs had previously been awarded the assignment to plan the construction of Amphitrite 1, Malmö University’s new building on Universitetsholmen, and in 2025 a binding agreement was signed for the construction and lease of the 20,000 m2 building.

After many years as Saab’s premises, “Werket” (Skrovet 6) in Malmö is now being opened up with a welcoming ground floor and flexible floor plans. Even before Saab vacated the premises, leases were signed with Cloetta, which relocated its largest Scandinavian office to the property, and with Media Evolution, which is expanding.

Projects

Throughout 2025, residents of Malmö and visitors to the city were able to follow the renovation of Börshuset 1 at Malmö C. For example, the yellow facade added in the 1980s was replaced with a light sandstone tone, thus restoring elements of the building’s original 19th-century character.

On new land in Fosie in eastern Malmö, we completed a plant for the food company Caldic Ingredients Nordic. It is a modern building with stringent standards for installations and technical systems, and verification to Miljöbyggnad Gold level.

A ceremonial ground-breaking was held at Surkålen 1 in the growing Hasslanda district of Lund for electronics company NOTE Lund’s new 9,000 m2 facility. Another part of the building will accommodate a large collection of public art sketches from the Historical Museum at Lund University and Skissernas Museum.

Sustainability

Wihlborgs has entered an agreement with Öresundskraft to purchase carbon reduction certificates, with the aim of securing access to a local balancing solution in support of our own climate targets. The certificates will be used for climate balancing in project activities and to support climate-neutral district heating.

Wihlborgs once again achieved the highest possible rating of five stars in the Global Real Estate Sustainability Benchmark (GRESB) and ranked number one among listed diversified property companies in Europe (office/industrial). GRESB also reports a positive trend across the property sector as a whole, with an increasing number of companies improving their performance.

Wihlborgs has installed a battery solution at Cube (Nya Vattentornet 4) in Lund as well as one at Ametisten 5 in Helsingborg. The solutions have initially been connected to the ancillary services market, thereby contributing to balancing the region’s electricity grid. The batteries installed at the Cube are enclosed by an architect-designed Corten steel fence in the shape of a sine wave.

Milestones

In 2025, Wihlborgs completed its largest acquisition to date, comprising several investment properties in Malmö, Lund and Helsingborg as well as two development properties in Lund. The properties have attractive locations with strong existing businesses and good development opportunities.

On 23 May, Wihlborgs celebrated 20 years as a listed company. Over this period, Wihlborgs has delivered an annual total return of more than 15 percent and raised its dividend each year. Project investments of approximately SEK 20 billion in the Öresund region over the years also reflect the long-term nature of our operations.

An independent analysis by Market Square Consulting, based on data from EPRA, highlights Wihlborgs as one of five European success stories. Read “Generating Alpha for GenerationAlpha – Success stories of the Gen A decade and the routes to outperformance”.