Police received a call just before 8pm on Monday evening reporting gunfire in the area and when they arrived on the scene they found three men, all in their mid-twenties, with shot wounds.
One was in a worse state than the others.
“Police started CPR on the spot but the person died,” said Helena Ralmark of the Malmö police to news agency TT.
The other two sustained less serious injuries in hand and leg respectively.
According to police, 15 people witnessed the incident. They described the weapon as “resembling a pistol” and said the perpetrator was wearing a mask.
“The shooter was wearing something resembling a Halloween mask, a mask that looked like the face of an old man,” Ralmark told TT.
Two hours after the incident, police had not made any arrests and there were no suspects. The three victims were all previously known to police.
The shooting took place on an industrial estate where police previously have raided several illegal nightclubs.