Press Release, Søborg 19. june 2026
The activity level has continued into 2026. Construction of 182 owner-occupied homes began in spring 2026, while construction of 133 rental homes has commenced at Søborg Skovby in Gladsaxe. A further 100 rental homes are expected to start construction in late 2026 or early 2027.
“We deliver a satisfactory and expected result for 2025, confirming that we are executing on the strategy we have set for ALFA Development. As a residential project developer, we recognise revenue and earnings from project sales when homes are handed over to buyers. As a result, the 2025 financial statements do not yet reflect the high level of sales and construction activity currently seen across the business. Revenue from current project sales is expected to be recognised from 2027 onwards. In 2026, we have initiated the first phases of construction of more than 500 future homes in the Greater Copenhagen area, and in the first half of 2026 alone, 130 homes have been sold through project sales. This gives us a strong foundation for the coming years and supports our ambition to run a stable, robust and disciplined development business with as few surprises as possible,” says Andreea Kaiser, CEO and co-owner of ALFA Development.
ALFA Development reported profit after tax of DKK 41 million for 2025. Equity at year-end amounted to DKK 1.04 billion, and the equity ratio was 53%. The figures underline the company’s solid financial position, conservative risk profile and considerable flexibility in a market where timing, resilience and execution capacity are decisive.
From 2027, ALFA Development expects revenue from owner-occupied homes to be recognised gradually as homes are completed and transferred to buyers. The company is therefore well positioned for the coming years, as several projects move from planning and site preparation into construction, sales and delivery. The rental portfolio is also being expanded with another Living By ALFA concept in Søborg Skovby, comprising 250 rental homes.
During 2025, ALFA Development reached several key milestones. The local development plans for Egehaven (www.egehaven.dk) and Søborg Skovby (www.søborgskovby.dk) received final approval, and Astas Have on Amager (www.astashave.dk) regained momentum. In the municipality of Gladsaxe, ALFA Development is establishing the next generation of its internationally recognised residential concept Living By ALFA, featuring a clubhouse and associated homes as an integral part of the new Søborg Skovby urban area.
The ALFA organisation has also been strengthened with additional employees across development, construction, sales and leasing, service and asset management. Property management has been brought in-house to strengthen direct dialogue with tenants, improve operational efficiency and ensure systematic knowledge sharing for future residential projects.
“We are in an optimal position for the coming years. From early 2026 until now, we have sold more than 130 owner-occupied homes, corresponding to 98% of the homes offered for sale. This confirms both the strength of our product and the demand in the market. The coming years are expected to deliver strong figures, and we are ready for new land acquisitions so that we can continue our strategy of developing and growing ALFA Development as one of Denmark’s leading residential developers,” says Andreea Kaiser.
Outlook for 2026
For 2026, ALFA Development expects a moderate result of DKK 10–15 million before tax and value adjustments of investment properties. The guidance reflects continued conservative revenue recognition, as significant revenues from already sold owner-occupied homes are expected in 2027 and 2028. At the same time, the company expects a significant increase in construction activity.
ALFA Development maintains its long-term growth strategy: to develop homes and urban districts with a focus on quality, quality of life, community and responsible financial management, while preserving a strong balance sheet that enables the company to act selectively and opportunistically in a cyclical real estate market.
Key Facts:
- CEO and Co-owner: Andreea Kaiser.
- Profit for the year 2025: DKK 41 million after tax (2024: DKK -5 million).
- Equity at year-end 2025: DKK 1,040 million (2024: DKK 999 million).
- Equity ratio at year-end 2025: 53% (2024: 52%).
- Revenue 2025: DKK 85 million (2024: DKK 118 million).
- Investment properties at year-end 2025: DKK 1,387 million (2024: DKK 1,341 million).
- Project and development portfolio at year-end 2025: DKK 233 million (2024: DKK 159 million).
- Living By ALFA is an internationally awarded BTR co-living concept owned by ALFA Development.
- 2026 guidance: DKK 10-15 million before tax and value adjustments of investment properties.
