Corem Kelly AB (publ)

What Corem Kelly AB (publ) does

Klövern AB (publ) is a Stockholm-headquartered Swedish residential property developer, operating as a subsidiary under Urban Partners' 75.85% majority ownership. The company develops both bostadsrätter (condominiums for sale) and hyresrätter (rental apartments), with an active project portfolio of more than 50 named developments across Stockholm, Uppsala, Göteborg, Malmö, Västerås, Linköping, and Nyköping. Its pipeline comprises approximately 16,800 building rights, 2,300 homes in production, and 600+ rental homes in management, supported by roughly 70 employees and a leadership team led by CEO Mathias Wallestam and CFO Frida Göransson.

Revenue is generated through three streams: one-time condominium sales to individual buyers (Bostadsrätter) conducted via the company's own property selector tool (Bostadsväljaren) and partnered real estate agents (mäklare including Fantastic Frank, Notar, Fastighetsbyrån, Husman Hagberg, Länsförsäkringar, and Riksmäklaren); recurring rental income from approximately 600 managed apartments distributed through HomeQ and Bostadsförmedlingen i Stockholm; and building rights development for future residential construction. Disclosed segment revenue totaled 1,663.3 mkr SEK for FY 2025 and 1,277.5 mkr SEK for H1 2026 (IFRS-basis H1 2026 revenue was 119.1 mkr due to timing of property transfers).

The core technical differentiator is sustainability-led construction, with BREEAM-SE Excellent as the standard certification across new builds, BREEAM-SE Outstanding achieved on the Träklippan project (95 kg CO2 per sqm BTA versus Boverket's proposed limit of 375 kg), Svanenmärkt renovation for Square Garden (Stockholm's first Swan-labelled renovation), and Miljöbyggnad certification on Eddahuset. The company pairs capital-intensive development capacity with sustainability credentials, urban infill and renovation expertise, and access to municipal housing allocation channels, operating primarily in the Swedish domestic market.

Name

Corem Kelly AB (publ)

Legal name

Klövern AB (publ)

Website

https://klovern.se

Company type

Public

Founded year

1994

Operating status

Operating

Short description

Klövern AB (publ) is a Stockholm-headquartered Swedish residential property developer building sustainability-certified condominiums and rental apartments across seven Swedish cities, with ~16,800 building rights, 2,300 homes in production, and 600+ managed rentals under Urban Partners' 75.85% ownership.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Lessors of Residential Buildings and Dwellings (531110)

SIC

General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

Residential Luxury / High-End Home Construction (IMAFABAJ)

Keywords

• Residential property development
• Condominium development
• Rental housing management
• Sustainable construction
• Urban real estate

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Property Development for Sale: Development of residential properties (bostadsrätter/condominiums) for sale to individual buyers. Revenue recognized upon property transfer to buyers.
2. Rental Property Management: Management of rental properties (hyresrätter). Ongoing rental income from tenants.
3. Building Rights Development: Development of building rights (byggrätter) for future residential construction. Klövern has building rights for approximately 16,800 homes and 2,300 homes in production.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Klövern develops and sells newly constructed residential properties in Sweden, both for-sale condominiums (bostadsrätter) and rental apartments (hyresrätter), with a portfolio spanning approximately 57 named development projects across Stockholm, Uppsala, Gothenburg, Malmö, Västerås, Linköping, and Nyköping. The company holds building rights for approximately 16,800 future homes, has 2,300 homes in production, manages 600+ rental apartments, and emphasizes sustainability certifications such as BREEAM-SE Excellent/Outstanding, Svanenmärkning, and Miljöbyggnad across its projects.

Product overview

Klövern AB (publ) is a Swedish residential and urban development company that develops homes for both sale (bostadsrätter/condominiums) and own management (hyresrätter/rental apartments). The portfolio comprises over 57 named project developments across Swedish metropolitan areas and regional cities including Stockholm, Uppsala, Gothenburg, Malmö, Västerås, Linköping, and Nyköping. Key active projects include Square Garden (Kista — mixed-use renovation of a former Ericsson office into ~440 Swan-labelled rental and condo units), Berghusen (33 BREEAM-SE Excellent condos in Mälarhöjden), Bergsterrassen (83 BREEAM-SE Excellent condos in Nacka Strand), Träklippan (100 BREEAM-SE Outstanding climate-profiled apartments in Nacka), Momentum (~260 BREEAM-SE Excellent condos in Marievik), Västra Kungsholmen (~105 units near Greenhouse Sthlm), Hedda (~150 units at Årstafältet), Peg (145 rental units in Tyresö), Kombo (~99 coliving units on Kungsholmen), and several large-scale developments such as Årstafältet (~849 units), Isafjord/Kista (~720 units), Kopparlunden Västerås (~940 + ~180 units), and Industrigatan Linköping (~2,000 units). The company also operates a portfolio of approximately 600 rental apartments in management, a rental housing distribution network via HomeQ and Bostadsförmedlingen Stockholm, and employs approximately 70 people.

Differentiator

Problem solved

Functional benefit

Products and services

• Square Garden Mixed-use residential quarter in Kista combining rental apartments (hyresrätter) and condominiums (bostadsrätter), developed through conversion of a former Ericsson brick office building. Features a large courtyard, rooftop terrace, and approximately 10,000 sqm of ground-floor commercial space. Stockholm's first Swan-labelled renovation project.
• Berghusen Condominium project in Mälarhöjden, Stockholm, comprising 33 apartments of 1.5–4 rooms with rooftop terrace units. BREEAM-SE Excellent certified, with ground-source heating and underfloor heating for energy efficiency.
• Bergsterrassen Condominium project in Nacka Strand, Stockholm, with 83 apartments ranging from studios to 6-room units. Industrial elegance architecture referencing the site's historical factory and office buildings. BREEAM-SE Excellent certified.
• Peg Rental apartment project in Tyresö (Bäverbäcken area) with 145 apartments of 1–4 rooms. Developed with a focus on sustainability and functional outdoor environments. Marketing handled via HomeQ.
• Isafjord Large-scale residential area development in Kista spanning four sub-projects (Myvatten, Skaftå, Dalvik, and Profil) with approximately 720 apartments planned across mixed-use blocks with housing, commercial spaces, preschool, and cultural facilities.
• Träklippan Approximately 100 apartments in Henriksdalsbacken, Nacka, with a climate profile targeting only 95 kg CO2 per sqm gross area (vs. Boverket's proposed limit of 375 kg). Features wood construction, natural stone, reuse, solar panels, and a shared mobility hub with car pool, bike pool, co-working, and delivery boxes. BREEAM-SE Outstanding certified.
• Kombo Co-living/coliving project on Kungsholmen (Stadshagen), developed with Utopia Arkitekter. Approximately 99 coliving units where residents have private rooms with shared common areas on each floor. Features a rooftop terrace and corten steel façade. Rental housing.
• Momentum Condominium project in Marievik, Stockholm, with approximately 260 apartments (1–5 rooms) offering views over Stockholm or Lake Mälaren. Designed with interior architect collaboration featuring a distinctive narrative and premium finishes. Shared rooftop terraces with sauna. BREEAM-SE Excellent certified.
• Västra Kungsholmen New sustainable city block on western Kungsholmen with spacious apartments and townhouses featuring private balconies, terraces, or patios. Includes a shared rooftop terrace with outdoor kitchen, planting beds, and community areas. Adjacent to Greenhouse STHLM with gym, spa, and café.
• Hedda Condominium project at Årstafältet, Stockholm, with approximately 150 apartments ranging from studios to 6-room units. Features a rooftop terrace, lounge, courtyard, and community spaces. Located adjacent to the new city park with proximity to planned metro line. BREEAM Excellent certified.
• Birdie Condominium project adjacent to a golf course in Tyresö with 78 apartments (1–5 rooms, 30–114 sqm). Features include private terraces/balconies, rooftop units, fruit orchards, and a greenhouse.
• Spelhagen Waterfront residential project in Västra hamnen, Nyköping, with approximately 669 apartments distributed across multiple harbour-side blocks. Direct waterfront location near a small-boat harbour with public promenade and cycling paths.
• Årstafältet (Årsta 2, Årsta 4, Årsta Valla) Three-project portfolio at Årstafältet, Stockholm, totaling approximately 849 apartments: Årsta 2 (231 apartments, landmark building near planned metro), Årsta 4 (438 apartments), and Årsta Valla (180 apartments near the park). Area is one of Stockholm's largest urban development zones with approximately 8,000 homes and a major city park.
• Barkarby Centrum New city centre development at Barkarby station in Järfälla with 226 apartments across two blocks (B and C). Includes an active square with restaurants, cafés, shops, and transit connections. Block B features a mobility hub with car pool and bike pool. Near new metro extension.
• Kungsgatan Uppsala Approximately 500 sustainable apartments in Kungsängen, Uppsala, as part of the area's mixed urban development extending the city centre. Close to Uppsala Central Station and Fyrisån river with greenways and harbour areas.
• Doktoranden Rental apartment project in Ursvik, Sundbyberg, with 93 apartments (1–2 rooms) and a shared rooftop terrace. Surrounded by preserved nature with jogging trails, playgrounds, and community gardens. Common mobility hub with shared car pool.

Quantifiable outcome

• Träklippan climate impact: 95 kg CO2 per sqm BTA vs Boverket's proposed limit of 375 kg CO2 per sqm BTA
• +1 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Real AdvokatbyråminorImplementation/ SI/ Consulting Partner · 17 July 2026Legal advisor to Klövern in connection with the Kungsholmen property acquisition. Advised on the transaction for approximately 105 homes near Greenhouse Sthlm.
• Electrolux GroupminorOthers · 17 July 2026Seller of the Kungsholmen property where Klövern plans to develop approximately 105 homes. The property is part of the Greenhouse Sthlm quarter being developed near Electrolux headquarters.
• HomeQcoreChannel Partner/ Reseller/ DistributorPlatform partner for rental property distribution. Klövern's rental properties are advertised and allocated through HomeQ.
• Bostadsförmedlingen i StockholmcoreChannel Partner/ Reseller/ DistributorOfficial Stockholm city housing allocation agency through which Klövern's rental properties are distributed.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Wallenstam AB: Wallenstam is a Stockholm-based residential and commercial property developer/owner listed on Nasdaq Stockholm. Comparable in Stockholm-centric residential development and ownership of rental housing stock; operates both development and long-term management of residential assets similar to Klövern's hybrid model.
• Heimstaden AB: Heimstaden is a major Nordic residential rental property owner and developer with significant presence in Sweden. Comparable as a builder/owner of residential rental assets; less focused on for-sale bostadsrätter but overlaps in the build-to-rent side of Klövern's model and competes for the same urban land.
• JM AB: JM is Sweden's largest residential developer, focused exclusively on new-build bostadsrätter and småhus for owner-occupiers across Sweden (heavy Stockholm weighting). Most direct peer to Klövern by product type, customer segment (owner-occupiers), and urban development focus; competes head-to-head on the same Stockholm submarkets.
• Riksbyggen: Riksbyggen is a Sweden-wide cooperative housing association developer that develops and manages bostadsrätter (cooperative apartments), rental housing, and senior living. Comparable as a Swedish residential developer with a focus on cooperative ownership structures similar to Klövern's bostadsrätt sales model.
• Rikshem AB: Rikshem is a Swedish residential property company that develops, owns, and manages rental apartments with a strong sustainability profile. Comparable in residential rental focus and Swedish mid-major-city presence; relevant peer on the rental management side of Klövern's portfolio.
• Stena Fastigheter: Stena Fastigheter is one of Sweden's largest private residential property owners and developers, focused on rental housing in major metropolitan areas. Comparable in Swedish residential rental development and ownership, particularly in the Stockholm and Gothenburg regions where Klövern also operates.
• Bonava AB: Bonava is a Nordic residential developer listed on Nasdaq Stockholm that develops and sells homes to consumers across Sweden, Germany, Finland, and the Baltics. Highly comparable to Klövern in core business model (build-to-sell bostadsrätter/villaäganderätt, urban focus, multi-city Swedish presence) and a key direct competitor in the Swedish new-build market.

Broad incumbents

• Skanska AB: Skanska is the largest Nordic construction group with significant residential development (Skanska Nya Hem) in Sweden and other markets. Comparable as a broad incumbent; Klövern operates in the same residential submarket but Skanska is much larger and has exposure to commercial, civil, and international markets.
• NCC AB: NCC is one of Sweden's largest construction and real estate companies, with residential development as one of several business areas alongside commercial property, infrastructure, and contracting. Comparable as a Swedish construction incumbent with overlapping residential-development capabilities, though broader than Klövern.
• Peab AB: Peab is a leading Nordic construction group with a residential development arm developing bostadsrätter across Sweden. Comparable in Swedish residential development but operates across construction, civil, and infrastructure — a much broader business model than Klövern's focused residential profile.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/people/Kl%C3%B6vern/100085094382824
• LinkedInlinkedin.com/company/klovern
• Instagraminstagram.com/klovernab

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 Corem Kelly AB (publ)