Castellum’s New CEO Says It Will Get Worse Before It Gets Better

Castellum AB’s Chief Executive Officer Pal Ahlsen said it will probably get worse before it gets better, pointing to a tough market and increasing vacancy rates.

“We had a positive net leasing of SEK16 million in the third quarter, but throughout 2025, terminations have far exceeded new leases,” Ahlsen, who took office in late August after joining from rival Akelius Residential Property, said in the company’s earnings report for the third quarter.