Niam continues its push into the Danish residential segment and aim to deploy upwards of €600m over the next coming years.
After the successful establishment of Kronhusene, a residential development joint venture, Niam is now prepared to further expand the build-to-rent (BtR) platform, leveraging a series of well-executed projects.
“We are very satisfied with the progress of Kronhusene so far. We continue to acquire new attractive land plots, prepare our land bank for development, and construct residential units in several locations. Within Kronhusene, we have full-scale development resources and are dedicated to increasing the appeal of our living units for tenants while making them more sustainable by reducing our CO2 emissions,” said Henrik Gerdin, Fund Manager at Niam.
As of Q3, 2024, Kronhusene has already completed approximately 200 residential units, with 800 units under construction at various locations across Denmark. The aim is to build over 2,500 units in the coming years.
“Following the successful divestment of our 6,400-unit residential platform, HD Ejendomme, to Heimstaden in late 2020, Niam has continued to invest actively in the Danish residential market. We have a positive view of this segment as Denmark’s population is growing, the economy remains stable, and unemployment continues at low levels. This creates both the willingness and ability for the consumers to spend more in their housing,” said Jacob de Lichtenberg, Country Manager for Niam in Denmark.
Kronhusene, comprising a team of 40 development and construction professionals, specializes in building single-family houses, primarily in terraced house complexes with 50 to 200 units per location. These one- or two-story homes, widely common in Denmark, offer an affordable hybrid between traditional multifamily rental housing and owner-occupied single-family houses, catering to a wide range of residents.
“Like many parts of the world, the Danish population is changing, with the senior segment growing steadily, while families and younger households also seek versatile housing solutions. We believe that Kronhusene’s many one-storey terraced houses are a highly attractive option, not only for Denmark’s senior population but also for families seeking spacious homes, access to private gardens and a low-maintenance, energy-efficient lifestyle,” explained Jacob de Lichtenberg, Country Manager for Niam in Denmark.
All of the projects being developed and build by Kronhusene are in accordance with the sustainability certification framework DGNB. Furthermore, the company’s developments fully comply with the Danish building regulation, which, starting mid-2025, requires that CO2 emissions remain below 6.7 kg CO2-equalivant per m2 of construction.
Image source - Niam.
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