Cover photo: Simon Mose Vollmer.
After paying a dividend of 125m DKK in 2024, the company’s equity stands at 999m DKK. With a solid equity ratio of 52% and low debt, ALFA maintains a strong financial position, providing flexibility to invest in new projects and capitalize on market opportunities.
Stable Results Following a Strategic Year
The annual result ends at -5m DKK compared to 71m DKK in 2023, aligning with expectations. The result was impacted by an 8m DKK donation to the Planetary Responsibility Foundation (PRF), which works globally for biodiversity and nature restoration. This donation reflects ALFA’s long-term commitment to nature conservation.
“2024 was a year focused on preparing new urban development projects and strengthening our organization. We are now ready to significantly scale up our activities,” CEO Andreea Kaiser says. “With a strong pipeline valued at over DKK 2 billion and a robust financial base, we are ready to take the next step.”
Strategic Transformation to Drive Future Growth
In 2024, the organization was reinforced with several key competencies, particularly in business development. In early 2025, Christian Wæver assumed a newly established role as COO and Head of Development. He will play a central role in the execution of development projects in Søborg, Rødovre, Nørrebro, Amager, and Aarhus.
Additionally, ALFA Development optimized operations by outsourcing its restaurant and takeaway activities in IrmaByen to experienced operators. This ensures stable rental income and significantly reduces operational risk, while enriching the services in the area for residents.
Strong Project Pipeline Ready for Execution
ALFA’s project portfolio currently includes more than 60,000 m² of residential development ready for construction, along with approximately 175,000 m² in the local planning phase. Two key projects have reached major milestones, with local plans now approved for the Valhøj urban area in Rødovre and the urban area project on Mørkhøj Bygade in Søborg.
“I’m very excited that we will once again begin construction of new homes for sale and rental in 2025,” Andreea Kaiser says. “It is always uniquely satisfying to create not just housing but living environments where families can grow roots and thrive in community.”
Living By ALFA Expands to More Cities
A key element of the growth strategy is the continued development of the award-winning Living By ALFA housing concept. The concept—serviced Build-to-Rent homes with curated services and premium shared spaces—has performed strongly in IrmaByen, showing rising rental levels and low vacancy rates.
The next project under this concept is expected to launch in Søborg as part of the Mørkhøj Bygade development, where 400 new homes will be built around the protected Mørkhøjgård property.
Solid Investment Properties Amid Market Challenges
The investment portfolio, valued at DKK 1,341 million, delivered stable operating income and positive value adjustments of DKK 1 million, driven by improved operating results and rent increases. This contrasts with 2023, where there were negative value adjustments of DKK 32 million.
Outlook for 2025
In 2025, ALFA Development expects a result in the range of +5 to -5m DKK before tax and value adjustments on investment properties.
The company anticipates the next project sale in the second half year 2026. And more significant project sales deliveries in 2028–29.
About ALFA Development
ALFA Development is a Danish urban and property developer founded in 2006 as a family-owned business. With a mission to enhance quality of life, ALFA creates attractive, innovative urban environments and homes inspired by local building traditions and international trends.
The company is part of a corporate group that challenges industry norms. Its sister company, ALFA Ventures, invests in startups focused on sustainability, biodiversity, quality of life, and property technology. In 2022, ALFA’s owners established the Planetary Responsibility Foundation (PRF) to promote global nature preservation and biodiversity through international investments.
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