Scandinavian Property Group

What Scandinavian Property Group does

Scandinavian Property Group (SPG) is a privately held Scandinavian property developer founded in 2004 and headquartered in Stockholm and Oslo, with operations concentrated in the Greater Stockholm and Greater Oslo metropolitan areas. The company develops residential, social infrastructure, office, and logistics real estate, reporting over 7,000 homes under development and more than 3,500 completed homes across its footprint. SPG runs four product lines: tenant-owned and rental residential apartments (bostadsrätter and hyresrätter), social infrastructure (LSS residences, care homes, preschools) leased to municipalities and care operators typically on 15-year terms, office-to-residential and mixed-use conversions, and logistics/industrial facilities operated through its wholly owned subsidiary LogiDev (established 2022).

Revenue is generated through a mix of one-off residential unit sales to individual buyers and institutional investors, recurring rental income from social infrastructure and logistics leases, and opportunistic divestitures of completed assets to Nordic institutional capital (Acer Bostad, Vatne Property, Swedish Logistic Property, OBOS, SBB). In 2025, SPG sold 935 homes with a combined value of approximately 3 billion SEK across its Swedish and Norwegian projects, up from 428 homes valued at ~1.1 billion SEK in 2021. The go-to-market is sales-led and project-based: individual residential units are marketed through the company website and the municipal Bostadsförmedlingen housing queue, while portfolio-level transactions are negotiated directly with institutional investors and municipal partners. SPG's differentiators include deep municipal relationships in two supply-constrained Nordic metros, recurring sustainability certifications (Svanen, Miljöbyggnad Guld, FutureBuilt), and a recurring-income social infrastructure vertical that complements the more cyclical residential development business.

Name

Scandinavian Property Group

Legal name

Scandinavian Property Group

Website

https://spg.se

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Scandinavian Property Group is a privately held Nordic property developer founded in 2004, developing residential, social infrastructure, office, and logistics real estate across Greater Stockholm and Greater Oslo, with 7,000+ homes under development.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Lessors of Real Estate (5311), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Real Estate Property Managers (53131)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE)

akta.pro secondary industries

Affordable Housing Property Management (BPAJAGAJ), Healthcare & Medical Office Property Management (BPAJAGAF), Land & Development Site Brokerage (BPAJABAG)

Keywords

• Residential property development
• Social infrastructure real estate
• Logistics property development
• Tenant-owned apartments
• Rental apartment construction

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Residential Property Sales: SPG develops and sells residential units (bostadsrätter — tenant-owned apartments and hyresrätter — rental apartments) to individual buyers and investors. Revenue is recognized upon sale of units. In 2025, SPG sold 935 homes with a total value of approximately 3 billion SEK/NOK. In 2021, SPG sold 428 homes with a value of approximately 1.1 billion SEK/NOK.
2. Social Infrastructure Development & Leasing: SPG develops and holds social infrastructure properties (LSS homes, care homes, preschools, service residences) leased to municipal operators and private care providers under long-term leases (e.g., 15-year terms). Properties are either held in portfolio or divested to institutional investors.
3. Logistics & Industrial (LogiDev): LogiDev, a subsidiary focused on logistics and industrial real estate, develops and leases warehouse and logistics facilities to tenants (e.g., Tamro, Adapteo, European infrastructure companies). Long-term lease agreements generate recurring rental income.
4. Property Portfolio Divestitures: SPG divests completed or income-producing properties to institutional investors (e.g., sale of Tyresö Centrum rental apartments to Acer Bostad for 443.5 million SEK; sale of preschools in Motala and Karlskoga).

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Scandinavian Property Group is a Scandinavian property developer that acquires land and building rights, develops, and sells residential apartments (both tenant-owned bostadsrätter and rental hyresrätter), social infrastructure properties (LSS homes, care homes, preschools), office conversions, and logistics/industrial facilities across the Greater Stockholm and Greater Oslo metropolitan areas. Its LogiDev subsidiary focuses specifically on logistics and industrial real estate in Sweden. The company sells completed units to individual buyers, leases social infrastructure to municipal and private operators under long-term agreements, and divests portfolios to institutional investors.

Product overview

Scandinavian Property Group (SPG) operates as a unified property development platform organized around four core product lines: residential development (bostäder), social infrastructure, office development, and logistics facilities. The company also maintains a specialized subsidiary, LogiDev, focused exclusively on logistics and industrial property development in Sweden. The portfolio spans Sweden and Norway, with primary operations in the Greater Oslo and Greater Stockholm metropolitan areas. Projects range from individual residential buildings to large-scale mixed-use developments, with a focus on sustainability and community integration.

Differentiator

Problem solved

Functional benefit

Brands

• LogiDev: SPG's investment division focused on logistics and industrial real estate development in Sweden.

Products and services

• Residential Development (Bostäder) Development of residential properties including tenant-owned apartments (bostadsrätter) and rental apartments (hyresrätter) in Greater Stockholm and Greater Oslo. Sold directly to individual buyers, with rental apartments allocated through municipal housing queues such as Bostadsförmedlingen. Recent sales include 935 homes in 2025 with a total value of approximately 3 billion SEK/NOK, and 428 homes in 2021 for approximately 1.1 billion SEK/NOK.
• Social Infrastructure Development Development of community and social infrastructure properties including LSS residences (Lagen om stöd och service - housing for people with disabilities under Swedish law), elderly care homes, service residences, and preschools. Properties are typically leased to municipal or private care operators under long-term agreements (e.g., 15-year terms), with focus on sustainability (Svanen certification) and adapted solutions.
• Office Conversion and Development (Kontor) Conversion and development of existing office properties into new mixed-use destinations, including commercial office spaces in strategic urban locations and obsolete office stock redeveloped into residential or mixed-use projects (e.g., Bølerlia conversion of an older commercial building into 60-70 apartments with ground-floor grocery store).
• Logistics and Industrial Facilities (LogiDev) Development of energy-efficient and environmentally certified warehouse, storage, and manufacturing facilities in strategic Nordic locations, operated under the LogiDev subsidiary in Sweden. Building rights portfolio exceeds 120,000 sqm BTA for logistics and commercial properties. Long-term leases (15-20 years) to enterprise tenants (e.g., Tamro, Adapteo AB, European infrastructure companies).

Quantifiable outcome

• 935 homes sold in 2025 with a total value of approximately 3 billion SEK/NOK
• +5 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

21 partnerships are on record, tiered core and minor.

• Acer Bostad AB (Ontario Teachers' Pension Plan + Gordion)coreOthers · 25 November 2025Acer Bostad AB, a joint venture owned by Ontario Teachers' Pension Plan and Gordion, acquired a completed and fully rented residential project in Tyresö Centrum from SPG for 443.5 million SEK.
• BakkegruppencoreStrategic or Co-development Partner · 20 October 2025SPG acquired a portfolio of four development projects from Bakkegruppen in Greater-Oslo with a total development potential of approximately 1,000 homes. This acquisition strengthens SPG's position in the Norwegian residential market.
• Olofsson ByggminorImplementation/ SI/ Consulting Partner · 13 October 2025LogiDev signed two main contracts with Olofsson Bygg for projects in Södertälje and Uppsala, with a total contract value of approximately 450 million SEK.
• OBOScoreStrategic or Co-development Partner · 8 October 2025SPG acquired two Swan-certified care properties from OBOS, where LSS operations are conducted. The properties are covered by long-term leases of 15 years. The acquisition aligns with SPG's strategy to grow within social infrastructure.
• Bølerlia (municipal site)minorOthers · 22 August 2025SPG acquired a detailed-planned site in Bølerlia, Oslo, from the municipality for development of 60–70 new apartments plus a grocery store on the ground floor.
• Malmöhus Invest StockholmminorOthers · 25 June 2025SPG acquired four properties in Stockholm, Uppsala, Gothenburg, and Västerås from Malmöhus Invest Stockholm. The properties are used for LSS operations (Lagen om stöd och service till vissa funktionshindrade) and operated by some of Sweden's leading care operators.
• Ø.M. FjeldminorImplementation/ SI/ Consulting Partner · 28 August 2024SPG selected Ø.M. Fjeld as a cooperation partner for pre-project design of Brygga Hamar, with the intention of continuing the collaboration through a main contract. The pre-design includes apartments, commercial spaces, parking garage, infrastructure, and outdoor areas.
• European Infrastructure Company (green technology)minorChannel Partner/ Reseller/ Distributor · 21 June 2024LogiDev signed a lease agreement with a European infrastructure company specializing in green technology for a logistics facility in Uppsala North.
• IneoEiendomcoreStrategic or Co-development Partner · 14 June 2024SPG entered a partnership with IneoEiendom to develop Norway's first FutureBuilt circular housing project at Stovner metro station in Oslo. SPG acquired part of the planned property as part of this collaboration.
• Moelven ByggmodulminorImplementation/ SI/ Consulting Partner · 11 June 2024SPG signed a main contract with Moelven Byggmodul for Atlas Phase 2 and started construction of 188 apartments located adjacent to Tyresö Centrum.
• Swedish Logistic PropertyminorOthers · 23 April 2024LogiDev divested a 27,000 sqm warehouse property in Eskilstuna to Swedish Logistic Property.
• K2AminorChannel Partner/ Reseller/ Distributor · 3 April 2024SPG entered a property management agreement with K2A for 150 rental apartments, 2 commercial units, and a parking garage in the newly produced Fågelbyn area in Tumba.
• OBOScoreStrategic or Co-development Partner · 22 December 2023OBOS (one of Sweden and Norway's largest residential developers) signed an agreement with SPG to develop approximately 270 modern apartments in Tyresö municipality near Stockholm. The buildings will be constructed in wood and certified with Miljöbyggnad Gold.
• Vold EiendommerminorStrategic or Co-development Partner · 29 June 2023SPG and Vold Eiendommer entered a collaboration to develop a waterfront property at Brygga in Hamar into a future residential and hotel project of approximately 10,000 sqm.
• BOX ByggminorImplementation/ SI/ Consulting Partner · 27 April 2023SPG entered a main contract with BOX Bygg for the first phase of the Fågelbyn project in Kassmyraåsen, Tumba. The contract includes three point buildings and a parking garage.
• Drammen Logistikk Invest ASminorStrategic or Co-development Partner · 7 November 2022SPG became a co-owner of property Nedre Eikervei 65 in Drammen, which consists of a logistics building of approximately 16,500 sqm. The property is co-owned with Drammen Logistikk Invest AS.
• GretabominorStrategic or Co-development Partner · 20 September 2022SPG completed its first acquisition in Skellefteå municipality together with Gretabo. The acquisition was driven by strong population growth in Skellefteå and the need for more housing.
• ProNordicminorOthers · 15 September 2022SPG signed an agreement with ProNordic to acquire a building right centrally located in Gävle, approximately 500 meters from Gävle Central Station.
• UrbanicaminorOthers · 7 July 2022LogiDev acquired building-ready land for warehouse and logistics, located five minutes north of Uppsala. The property has a building right of approximately 70,000 sqm BTA. The seller was Urbanica, which developed the detailed plan together with Uppsala municipality.
• Bakke Leiligheter ASminorStrategic or Co-development Partner · 29 June 2022In 2021, Bakke Leiligheter AS acquired a major development property in Fjordbyen, approximately 30 minutes south of Oslo. SPG entered into a cooperation with Bakke to jointly develop this property.
• Vatne PropertyminorOthers · 16 December 2021Vatne Property (Norwegian) acquired 256 apartments in central Strömstad from SPG for approximately 535 million SEK.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Bonava: Nordic residential developer (listed in Stockholm) with multi-family apartment production across Sweden, Germany and the Baltics. Direct peer given focus on tenant-owned and rental apartment development in Nordic growth markets.
• Stena Fastigheter: Swedish privately-held property developer and landlord focused on residential and community-service properties in Greater Stockholm and other Swedish growth areas — directly comparable to SPG's residential plus social-infrastructure mix.
• JM AB: Swedish publicly-listed residential developer focused on Stockholm/Gothenburg/Malmö, building both owner-occupied and rental apartments — a closely comparable Nordic residential developer to SPG in geography, product type and buyer profile.
• Wallenstam: Swedish property developer and owner-operator focused on Stockholm and Gothenburg, developing and managing both residential and commercial properties. Closely comparable geography and mixed residential/commercial development profile.
• OBOS: One of the largest residential developers in Norway and Sweden — a direct SPG collaborator (270-apartment Tyresö JV in 2023, two Svanen-certified care properties sold to SPG in 2025). Operates the same residential and social infrastructure lines as SPG at greater scale.
• Catena AB: Swedish-listed logistics and industrial real estate company focused on Nordic supply-chain locations. Most direct peer to SPG's LogiDev division given the warehouse/logistics development focus in Sweden.

Broad incumbents

• NCC: One of Sweden's largest construction and property development companies, developing residential (NCC Boende) and commercial property in the Nordics — comparable as a diversified Nordic developer with both construction and development operations.
• Heimstaden: Major Nordic residential real estate owner and developer headquartered in Sweden. While larger and more capital-markets driven, it competes directly for Swedish institutional capital and tenants in the same Stockholm/Oslo markets SPG serves.
• Skanska: Global construction and project-development group with a large Nordic residential and commercial development arm. Comparable as a Nordic incumbent developing multi-family housing with a sustainability/certification agenda.
• Castellum: One of Sweden's largest listed commercial real estate companies, with logistics/industrial, office and community-service properties across Sweden and Norway — a broad incumbent in the same geographies and asset classes as SPG.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/scandinavian-property-group

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Scandinavian Property Group