Castellum is restructuring, merging its six subsidiaries into four divisions branded under the parent company name.
The Swedish listed real estate company is making the move as part of a bid to become more efficient and increase the growth on cash it generates.
Castellum, which holds SEK41bn (€4.4bn) of properties in southern Sweden and Denmark, is creating four regions out of its existing subsidiaries: West, Stockholm, Central and Öresund.
The new structure will mean a reduction in the number of managing directors within the group to four from six.
Henrik Saxborn, chief executive of Castellum, said: “This change will strengthen our local decision-making power and speed, while also taking better advantage of our size and market trends in order to grow, develop our business and deliver value to our shareholders.”
Saxborn said the change included a refocusing on growth areas in Sweden and Denmark, enabling the company to achieve its stated aim of increasing annual growth on cash to 10%.
In the overhaul, Eklandia Fastighets and Harry Sjögren will be merged to form the West region within Castellum, and will be led by Cecilia Fasth.
Fastighets Corallen and Aspholmen Fastigheter will be joined to become Castellum’s Central region within Castellum, led by Claes Larsson.
Meanwhile, Fastighets Brostaden will become the Stockholm region unit and will be headed up by Anders Nilsson, while Fastighets Briggen will become the Öresund Region under managing director Ola Orsmark.
Claes Junefelt, the former chief executive of Fastighets Corallen, will remain at Castellum as its head of project development within the Central Region, and Christer Sundberg, the former chief executive of Harry Sjögren, will retire this spring.
Castellum said it would set up the new group structure and common brand in the course of this year, negotiating with trade unions before actually making any changes.
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