Balder has expended a lot since the start and today we own, manage and develop residential properties and commercial premises in Sweden, Denmark, Finland, Norway, Germany and the United Kingdom. The Group also includes a number of subsidiaries and associated companies.

Balder’s business started in Sweden in 2005. Today the company is represented in 15 locations from Sundsvall in the north to Malmö in the south. Our head office is in Gothenburg. Our ambition is to be a stable owner, who creates attractive and safe areas for people to live in and do good business in. The property portfolio includes residential properties, commercial properties and new projects in capital cities and other larger cities. In recent years, the project portfolio has grown with several investments in large urban development projects for example Karlatornet in Gothenburg and Kungens Kurva in Stockholm.


The same year that Balder was founded, the Mellberg family started Bovieran AB. Since 2015, Bovieran is a wholly owned subsidiary of Balder. The housing concept is inspired by life on the Riviera and offers tenant-owner apartments for people who have turned 55 and who wish to live in a unique environment.

Associated companies and joint ventures

Over the years Balder has become part owner in a number of associated companies and joint ventures focusing on property management and project development, and also the niche bank Norion Bank (formerly Collector Bank). Information about all the companies can be found in our Annual and sustainability report. Here, you can read about a selection of them.

Trenum AB

Trenum is a company with focus on residential properties. The company focus on Sweden’s three metropolitan regions and growth areas with positive population development. Balder and The Third Swedish National Pension Fund owns 50% each of the company.

Fastighets AB Centur

Centur is focused on property management, project development and property investments. Project development mainly focuses on construction of new retail and office premises and apartments but also on refinements of project properties. The properties are located in Stockholm, Gothenburg and the Öresund region. Balder and PEAB each own 50% of the company.

Tulia AB

Balder owns 50% of Tulia and the remainder is owned by André Åkerlund AB. The company owns and manages commercial properties in central locations in Stockholm.

Entra ASA

Entra owns and manages commercial properties in Oslo and its surrounding areas and in Bergen, Stavanger and Trondheim. The company is listed on the Oslo Stock Exchange and Balder’s participating interest is almost 40%.

Next Step Group 

Next Step Group is an urban development and property development company based in Gothenburg with the vision of creating environments where people feel a sense of pride, closeness and inclusion. The company is currently managing major urban development projects such as Wendelstrand, GoCo Health Innovation City and Link40. Balder's ownership stake is 50%.

Establishment in Denmark

Balders establishment in Denmark began during 2012 through an acquisition of residential properties of 43,500 sq.m. and today the Group has a broad portfolio of properties in and close to Copenhagen. We also own six hotels in Copenhagen inner city as well as the historic entertainment venue Circusbygningen. In Denmark, Balder also has a number of exciting new construction projects, including Strandby Høje and Torveporten, both of which will be completed in 2024.

Finnish property management and SATO

Since 2015, Balder owns 54.4% of SATO Oyj, which is Finland’s second largest residential property company. SATO stands for high-quality properties in excellent locations that complement Balder’s existing operations and property portfolio. SATO develops and manages apartments primarily in metropolitan regions with greater Helsinki, Tampere, and Turku in focus. 

In May 2023 Balder established an own property management organisation in Finland, in order to more effectively and cohesively manage the company’s wholly owned properties together with the properties which are owned through Serena Properties AB.

Properties in Norway

In recent years, Balder has gradually expanded its holdings in Norway, including by acquiring Asset Buyout Partners (ABP), 60 % of Anthon Eiendom AS, and 40% of the shares in Entra ASA.  

ABP is a leading Norwegian industrial property company with real estate assets located in business-critical energy and maritime clusters along the Norwegian coast. Anthon Eiendom develops and manages commercial properties in the eastern parts of Norway, primarily in the Oslo area. Entra is one of Norway’s largest property companies that owns and manages properties in the four largest cities in Norway.

Hotels and properties in Germany and the UK

In 2018, Balder acquired a German property portfolio consisting of seven hotel properties. The properties contain more than 800 hotel rooms with a total lettable area of just over 40,000 square meters. About 40% of the rental value is located in Berlin and other important cities such as Leipzig, Erfurt and Gelsenkirchen. The operator of the hotels is Ligula Germany GmbH, which is a subsidiary of Good Morning Hotels. Balder owns two properties in London since 2019. In London, Balder has owned two office properties since 2019, and in the spring of 2023, two car showrooms were also acquired. I London, Baldes owns four commercial properties: two office properties since 2019 and two car showrooms since 2023.