Hufvudstaden has long experience of preserving and developing properties. The company was founded back in 1915 and was listed on the Stockholm Stock Exchange in 1938. From the very outset the Stockholm region has always been a primary market and in 1940 the company owned a total of 68 properties, of which 60 were in Stockholm and the remaining eight in different provincial towns. The involvement in Gothenburg commenced in 1967 with the acquisition of three centrally located properties.
International expansion with an initial focus on Tokyo commenced in 1970, followed by further acquisitions in Paris, London and Berlin. Foreign interests were divested in 1997. NK Fastigheter AB was acquired in 1998 and in 1999 the operating focus was the central parts of Stockholm and Gothenburg. The World Trade Center property was acquired in January 2000. This was also the year in which Norrmalmstorg 1 was acquired and extensive renovation commenced in 2002.