Despite the recession and general uncertainty, we have managed to deliver positive net leasing in all quarters, including throughout 2024, and collectively we have the largest new leasing ever in a year with 453 million. We also signed our largest lease agreement ever – with Novo Nordisk in Denmark.
Our presence in our markets, our knowledge and our adaptability mean that we can continue to invest even in more challenging times. The business is growing, but through careful selection of materials and close collaboration with everyone involved in our projects, we manage to reduce our climate impact. In the 2024 edition of the ESG assessment GRESB, where we continue to be ranked top globally, we have increased our score in the assessment relating to project development from 91 to 97.
We are also proud that our trust index increased from 86 to 90 percent in the latest employee survey, that our office building Space in Lund was named NollCO2 Project of the Year, that the industrial property Tomaten 1 became the first building in the world with fossil-free steel and that our very own energy innovation, the "Jannelösningen" continues to reduce energy use in property after property. Just like 100 years ago, it is Wihlborg's own employees who drive the business forward.
Download the annual report
Here you can download Wihlborgs Annual and Sustainability Report for 2024.
I am proud that Wihlborgs has not deviated from what we believe to be sustainable over the long term, what is our core and what, over time, has become our strategy. A strong cash flow and clear presence in a growing market.
We got off to a great start in 2024 with our largest lettable area to date – 62,000 m² to Novo Nordisk at Girostrøget 1 in Høje-Taastrup. A comprehensive modernisation of the properties in the area will be completed in 2025.
In the first quarter, we sign an agreement with the logistics company Dachser in eastern Landskrona (Bilrutan 5) for a new facility, which is built in just ten months. The project is a first step in developing one of many wellpositioned properties in the area with a strategically favourable location and considerable potential.
In March, Space (Kunskapen 1) in Science Village in Lund won yet another award, this time, as Building of the Year for 2024 in the Hotel and Office category by the industry journal Byggindustrin and the Construction Summit trade fair.
Quarter 2
The logistics company and our current tenant, Instabee, signed an agreement for an additional 4,000 m² at the Bunkagården Västra 8 property in the Ättekulla industrial area in Helsingborg. Instabee has been a tenant of Wihlborgs since 2018, when it leased 220 m² at Berga.
In Hyllie, Malmö, we added Värdshuset 2, thus growing our portfolio of four properties. The building sits above Hyllie Station. We will be implementing several measures there to improve the building’s energy performance. It is also a very attractive addition to our offering in the area.
When Caldic Ingredients Nordic co-locates in Malmö in 2025, a new facility on new land (Galoppen 1) will be built in Fosie, eastern Malmö. The agreement that was signed spans 20 years and 10,000 m².
Quarter 3
At Ideon, the Beta 1–2 buildings (part of Vätet 1), will be given a new look and improved standard in preparation for 2025 when the rapidly growing chip design company Arm moves over from its current premises at Ideon.
In the third quarter, we announced that the law firm Delphi would become part of a new era for Börshuset in 2026. Renovation continued during the year, aimed at preserving and highlighting the building’s original character, while concurrently creating an attractive space for companies, Malmö residents and visitors.
We signed a contract with the electronics company NOTE Lund for construction of a new 9,000 m² facility at Hasslanda (Stora Råby 32:22). It will comprise offices, production and warehouses with the aim of being certified in accordance with Miljöbyggnad Guld.
Quarter 4
In October, an agreement was signed for the global sports and outdoor company Thule Group to move its headquarters to Dockan (Dockporten 1) in central Malmö during summer 2025.
In the 2024 edition of the Global Real Estate Sustainability Benchmark, Wihlborgs received five out of a possible five stars and was ranked as global sector leader in the category of listed diversified property companies (office/industrial). For the assessment of project development, the score increased from 91 to 97.
At the Tomaten 1 property, the Lund company BPC Instruments signed an agreement for new construction of a warehouse, production and office building. It will thus become neighbour to the contract manufacturer Inpac. Occupancy is scheduled for summer 2026.
Four reasons to invest in Wihlborgs
Operating in an attractive region
Our home region of Öresund has strong population growth, a young and well-educated demographic, world-class technological development, good commuting possibilities and shrinking distances to the continent through, for example, the coming Fehmarn Belt connection. Copenhagen Airport is also strengthening its position. These are the factors that make businesses grow and attract global corporations to locate their regional headquarters here.
Building value-generating clusters
Wihlborgs’ properties are located in selected sub-markets that provide growth and development potential. We create dense clusters of properties, industries and networks that enable tenants to relocate, grow and develop within our portfolio. We know the market and the region well and can quickly identify new needs and trends. Wihlborgs is the leading property company for commercial premises in Malmö, Lund and Helsingborg.
Long-term property owner
Wihlborgs is a long-term owner that develops and manages properties under its own auspices with a high level of service and local suppliers. We invest in flexible premises that can be adapted according to tenants’ changing needs, with stringent requirements for quality and sustainability, while also ensuring low operating costs. We take the economy, people and the environment into account in all our decisions, and have recognised low ESG risk. Our goal is to halve scopes 1, 2 and 3 emissions by 2030, and to have net zero CO2 emissions by 2045.
Stable growth and financing
Wihlborgs has grown robustly for many years and raised the dividend for 18 consecutive years. This was made possible by our focus on continuously improving cash flow. Our strong operating profit relative to our borrowing creates good financial stability, which allows us to maintain an attractive portfolio of ongoing and planned projects, and to capture new business opportunities as they arise.
Wihlborgs in Malmö
Properties: 104, Rental value: 1,608 SEK m, Property value: 23,468 SEK m, Lettable area: 634,000...
Long-term approach. This is an ambitious concept, which shows our stable and enduring Wihlborgs’ strategy is to concentrate its operations to a region that we should know best of all, in order to fully utilise our potential and contribute positively to the region. Another important boundary is that we focus exclusively on commercial properties and workplaces. The strategy is based on three focus areas aimed at ensuring long-term growth in a market that is constantly changing: an active, knowledgeable organisation; growing in the Öresund region; and maintaining strong relationships with an up-todate product.
We focus our sustainability initiatives on areas in which we have the greatest impact and thus the best opportunity to contribute to positive development and reduce the negative impact.
Wihlborgs’ sustainability framework is divided into four areas, with 16 associated targets. The targets cover all elements of the ESG area aimed at driving the company in a sustainable direction and they are monitored on a quarterly and/or annual basis. Our targets of net-zero carbon emissions by 2045 and to halve our climate emissions by 2030 have been approved by the Science Based Targets initiative (SBTi), which means they are both science-based and in line with the ambitions of the Paris Agreement (1.5°C goal).
Projects and development” is an important aspect of Wihlborgs’ business model and one of several ways for us to keep growing and creating value. Over the past five years, we have invested an average of about SEK 1.6 billion annually in our projects and properties.
