While it first appears in historical records in 1347 and it is known that two farmyards existed here during the reign of King Gustav Vasa in the 16th century, in the 1922 edition of Nordisk Familjebok the location was still regarded as too insignificant to deserve an article.

[3] As part of a wider plan to decentralise the population of Stockholm, this rural land was quickly transformed into the present modern suburb.

Planning began in 1949, and in 1951, Svenska Bostäder, a municipal housing company, was tasked with developing Vällingby Centrum, the commercial centre, and parts of its residential areas.

[3][5] The new suburb was the fruit of plans to develop the rural areas surrounding Stockholm dating back to the early 20th century.

[9] In April 2022, Stockholm Municipality and Svenska Bostäder sold Vällingby Centrum to the real estate company Nrep for 1.68 billion SEK (approx €158 million).

While the Social Democrats are widely acknowledged for the realisation of Vällingby, other political parties and, not the least, private entrepreneurs actively took part in the planning process.