In 2025, Realdania increased its portfolio of mission-related investments from DKK 1.158 billion to DKK 1.452 billion. The philanthropic association has fulfilled its strategic objective of ensuring that five per cent of its commercial investment assets are invested in initiatives that both generate a competitive financial return and support Realdania’s philanthropic work and mission.
In 2025, Realdania completed five new investments, bringing the total number of mission-related investments in the portfolio to 24. A new impact report reviews and assesses all mission-related investments in the portfolio, including their contribution through concrete and measurable results.
875,000 square metres renovated
In 2025, the mission-related investments contributed to avoid 75,480 tonnes of CO2 emissions – more than in the previous year and equivalent to the annual emissions of approximately 6,000 Danish citizens.
The investments also helped divert around 24,000 tonnes of waste from landfill and generated energy savings equivalent to the annual energy consumption of around 7,000 Danes. In addition, 875,000 square metres of buildings were renovated through the investments in 2025 – corresponding to approximately 122 football fields.
“We are in the midst of a major transformation of the built environment. If we are to make a real impact on climate and resource consumption, we need to develop new solutions and help bring them into the market. That is exactly what mission-related investments make possible. We invest in companies and projects that can help reduce CO2 emissions, energy consumption and waste, while also delivering a financial return. For us, it is about using every tool available to drive positive change,” says Kenneth Lillelund Winther, Chief Investment Officer at Realdania.
Former military barracks in Milan
In 2025, Realdania made mission-related investments in, among other things, two European real estate projects focused on transforming existing buildings and giving them new life in Italy and Belgium.
In Milan, a former military barracks is set to take on a new identity. Located in the Bicocca district, the site has been unused for several years but will now be transformed into a vibrant new urban neighborhood. Covering approximately 96,000 square metres, the former barracks will be redeveloped into a mixed-use district comprising owner-occupied and rental housing, student accommodation, retail, public facilities and green communal spaces.
Vacant buildings in Belgium will also be given a new purpose. Together with Patrizia Sustainable Communities, Realdania has invested in Re-Store – a strategic partnership between the property developer Revive and the investment manager Patrizia. The ambition is to acquire and transform obsolete office buildings across Belgium into modern, high-quality and energy-efficient homes within attractive new residential environments.
“There is considerable potential in the buildings and urban areas that currently stand vacant or have become outdated. These are examples of the types of investments we make to reduce climate impact while contributing to vibrant urban communities with room for more housing, stronger communities and everyday life. This is a highly relevant agenda in many European cities, where the demand for housing is growing, and we want to contribute to solutions that both create life and make better use of resources,” says Kenneth Lillelund Winther.
Fourth impact report on mission-related investments
This is the fourth year that Realdania has measured the impact of its mission-related investments in a consolidated report. The framework behind the impact measurements is developed in collaboration with The Footprint Firm.