Stena Property

Stena Property

Strong growth and continued investments in sustainability

Stena Property is one of Sweden’s largest private property companies, with a focus on sustainable development and prudent management, with around 27,000 residential units and 1,900 commercial premises in the metropolitan regions of Stockholm, Göteborg and Malmö. A small part of the commercial portfolio is located in Poland and the USA. Headquartered in Göteborg, the company develops cities and manages them with care.

Summary of 2023

During the year, Stena Property continued its proactive investments in Göteborg, Stockholm and Malmö. The company’s safety index reached 79.5 per cent, which was the best result to date despite a sharp increase in social instability in society.


2023 marked another successful chapter for Stena Property, with robust growth in the three Swedish largest city regions. During the year, Stena Property commenced the construction of 640 homes in Stockholm and Göteborg, while a total of 4,440 homes under various types of lease were completed in these cities. The occupancy rate for commercial premises in the Swedish portfolio reached 96.3 per cent, which is a very good result that is well above the industry average.


The sharp slowdown in the new housing construction market as a result of rising interest rates led to increased interest in submitting tenders for large housing contracts. Stena Property has thus been able to start the construction of 120 new apartments in Stockholm and 520 in Göteborg. In addition, the company received land allocations for an additional 300 apartments in Lund, and 325 apartments adjacent to existing areas in Stockholm.


At the same time, the portfolio in Stockholm was expanded by acquiring a property in Märsta with 438 rental apartments. This acquisition strengthens the company’s position as one of the largest private property owners in Greater Stockholm.


In uncertain times, we strengthen our strategic work with social sustainability, while in practice we have the opportunity to create new and more activities that reach more people.
We have proved that we can tackle societal challenges and make a real difference in the areas where we are established.” Cecilia Fasth, MD, Stena Property


Several awards during the year

During the year, Stena Property received the prize as the best commercial property company in Sweden. The grounds for the award highlighted that the company, through its 20-year sustainability journey, has paved the way for the development that now characterises the entire industry. The company was also nominated in the category of Real Estate Company of the Year Residential, where the company achieved second place.


In addition, the company was awarded the prestigious ‘Greatest Digital Transformation’ prize by Optimizely for its innovative digital advances with the ‘My Pages’ customer platform. Stena Property’s digital transformation of the customer journey is described as having contributed to a new standard for customer experiences in the industry.


Stena Property also won an award for the new production project with the highest customer satisfaction rate, on completion of the Bellevuegården project in Malmö. The prize was awarded by Kundkristallen, which conducts customer surveys for the entire industry.

Sustainable financing dominates the Swedish portfolio

During 2023, Stena Property continued to increase the ratio of sustainability-linked loans, which are linked to KPIs for neighbourhood safety, energy efficiency and reduced climate footprint. At the end of December 2023, the company achieved 75 per cent sustainable financing. Of this financing, 60 per cent concerns loans with a focus on social sustainability, while 15 per cent are green loans. The original target for 2027, to reach 50 per cent loans with a focus on social sustainability, has already been achieved with a good margin.


The results from this year’s safety index, which rose to 79.5 per cent as the best result ever achieved, show that the long-term measures to increase safety are paying off. Specifically, the safety index increased the most in the Lindängen area of Malmö.


For more than two decades, Stena Property has been committed to strengthening social sustainability in society through its successful approach, Relationship management. The work is based on the UN’s Sustainable Development Goals and focuses on four core areas: safety, work, school and leisure time. In 2023, Stena Property further stepped up its preventive work within social sustainability, in response to the increased social instability in Swedish society in the form of violence, gang crime and economic vulnerability. The company increased the number of relationship managers and worked actively on developing and deepening relationships and collaborations.


Stena Property has a long tradition of working with targeted initiatives for children and young people. In 2023, a total of 976 young people gained holiday jobs through Stena Property’s programmes.

Comprehensive energy investments

Stena Property strives to become long-term self sufficient in electricity through investments in battery storage and solar energy. The goal is to become 60 per cent self-sufficient in the entire stock in Sweden by 2027. In 2023, 6.3 million kWh were produced, which is a tripling of self-generated electricity since 2022.


“Highly volatile electricity prices and uncertain supply are the basis for this initiative, which aims to provide us with long-term financial security while reducing our climate footprint,” says Cecilia Fasth.


Construction of a solar farm in southern Göteborg began during the year. When the plant is commissioned in February 2024, the company will achieve 50 per cent self-sufficiency in electricity in western Sweden. In collaboration with Ikano Bostad, a new sustainable district, Humlestaden, is being developed in Göteborg. To meet the energy needs of existing properties in the area, in 2023 the company installed Sweden’s largest energy storage facility with reused batteries. The energy storage facility has been in operation since the summer of 2023 and is contributing to strengthening Göteborg’s electricity grid in the face of future capacity challenges.


In 2023, Stena Property’s 27,000 apartments were integrated with AI-controlled district heating, resulting in reduced energy consumption while ensuring a more stable indoor climate for tenants.


Climate in focus

Stena Property’s goal is to achieve net-zero carbon emissions by 2045, and a 55 per cent reduction from 2018, as the base year, to 2030. The company’s work to reduce its climate impact includes the entire value chain (Scope 1, 2 and 3), with significant progress for all scopes.


Most of Stena Property’s climate footprint currently comprises the supply chain linked to new production and renovations (Scope 3). These emissions account for around 82 per cent of the total emissions. To reduce these emissions, the company increased its efforts during the year, with focus on the supply chain for the renovation of apartments and new production projects. Stena Property’s climate footprint in Scope 1, 2 and 3 has been reduced by 23 per cent since 2018, which is in line with the goal.


The need for climate adjustments has increased in importance in recent years, with increased demands from insurance companies, banks, and customers. In 2023, Stena Property conducted a risk analysis at a few selected pilot properties, to manage a changed climate. The aim is to launch a method and plan in 2024 for how Stena Property will work systematically with climate adjustment across the entire portfolio.

Employee development

Stena Property works actively to create a safe and stimulating working environment, where innovation and care are guiding principles in everyday life.


The company constantly strives to strengthen and develop its employees, which is crucial in order to be an attractive employer in a complex world with tough societal challenges. The results from the engagement index reach 89 per cent and ENPs 53. Stena Property has gender equality in the Group management, Board of Directors, and other senior positions. Concerning the company’s ambition to reflect society in terms of diversity, this year’s measurements show that the company is successfully moving in the right direction.

Risk management

The most important risks are interest rate trends, increased violence in society, and volatility in the energy system. To manage these risks, the company is working to hedge its intrest expenses in the long term, step up its Relationship management work and help to get more young people into work, as well as important initiatives to become self-sufficient in electricity.





Goal: At least 32% by 2027


The proportion of employees with an international background should reflect society’s diversity




Total carbon footprint 2023, tonnes of CO2e

-23% since 2018

Scope 1: 195
Scope 2: 15,356
Scope 3: 71,099
Total: 86,650

Goal: -55% by 2030 compared to 2018 and net zero by 2045



Security in residential areas


Goal: At least 82%  by 2027


Safety is measured through Aktiv Bo, a customer survey. The survey is run every second year.


Share of Total income




Income, MSEK


Capital employed, MSEK


Residential units

2.5 million m²

Owned and managed portfolio


Commercial premises