Norwegian Property

What Norwegian Property does

Norwegian Property ASA is a publicly listed Norwegian commercial real estate company founded in 2006, headquartered at Aker Brygge in Oslo. The company owns and manages a portfolio of 31 properties totaling approximately 619,000 square meters of office, retail, and mixed-use space, with a market value of approximately NOK 29.1 billion. Its assets are concentrated in three prime Oslo micro-markets — the Aker Brygge waterfront and Central Business District, the Fornebu business district in Bærum, and Nydalen — with flagship properties including Snarøyveien 30 (200,000 sqm), Martin Linges vei 33 (88,492 sqm), Snarøyveien 36 (58,343 sqm), Verkstedhallene, Telegrafen, and Terminalbygget.

The business model is fundamentally a recurring rental income model: Norwegian Property leases office and retail space to commercial tenants under long-term contracts and operates full-service buildings with integrated amenities such as staff restaurants, training centers, co-working via Business Village, marina services (175 berths at Aker Brygge), and the Synergy Fornebu community platform. Distribution is direct B2B through four on-site customer service centers and dedicated leasing managers; pricing is quote-based and negotiated individually. The portfolio achieved a 92.3% occupancy rate, generated NOK 297 million of operating profit before value adjustments in Q3 2025, and includes a development pipeline targeting BREEAM-NOR Excellent / Energy Class A standards.

The company is a Norwegian public limited company (ASA) listed on the Oslo Stock Exchange (NPRO), with Realty Holdings (NOR) Limited as a significant shareholder. In December 2025, it completed a NOK 253.5 million share capital increase settled in kind via Fabege AB shares, and appointed CFO Haavard Rønning as interim CEO. The company employs 11–50 staff and operates exclusively within Norway.

Name

Norwegian Property

Legal name

Norwegian Property ASA

Website

https://norwegianproperty.no

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Norwegian Property ASA owns and manages 31 prime Oslo commercial properties totaling ~619,000 sqm, leasing office, retail, and marina space to B2B tenants across Aker Brygge, Fornebu, and Nydalen under long-term full-service contracts.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Nonresidential Property Managers (531312), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Real Estate Property Managers (53131)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Office Real Estate Asset Management (BPAJAMAG)

akta.pro secondary industries

Office Property Management (BPAJAGAA), Mixed-Use Property Management (BPAJAGAE)

Keywords

• Commercial real estate
• Office leasing
• Property management
• Commercial property investment
• Retail premises leasing

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Commercial Property Rental Income: The company generates revenue through leasing office spaces, retail premises, and commercial properties to businesses. Rental income is derived from long-term leases with commercial tenants across their portfolio of 31 properties totaling approximately 619,000 sqm. The company achieves a 92.3% occupancy rate.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Norwegian Property ASA owns, develops, and manages a portfolio of 31 commercial office, retail, and mixed-use properties totaling approximately 619,000 square meters across the Oslo metropolitan area (Fornebu, Nydalen, and Central Business District). The company leases full-service office buildings with on-site amenities, retail premises, and co-working spaces to business tenants under long-term lease agreements, and operates the Aker Brygge Marina. Revenue is generated primarily through commercial property rental income, achieving a 92.3% occupancy rate and a portfolio market value of NOK 29.1 billion.

Product overview

Norwegian Property ASA is a commercial real estate company established in 2006 that owns and manages approximately 619,000 m² of office and retail properties across Norway. The portfolio comprises 31 properties with a market value of NOK 29.1 billion and a leasing rate of 92.3%. Key properties include Martin Linges vei 33 (ML33) and Snarøyveien 30 (S30) at Fornebu, Verkstedhallene and Telegrafen at Oslo Central Business District, and various properties in Nydalen. The company provides property management services through dedicated customer centers and integrates sustainability services including BREEAM certification, reuse parks, and local energy solutions. Properties are offered as flexible office spaces, retail premises, and co-working options like Business Village and Synergy Fornebu community programs.

Differentiator

Problem solved

Functional benefit

Brands

• Synergy Fornebu: A concept at Fornebu designed to create engaging meeting places where people can thrive, work, and grow together - combining work with wellness and community
• Fornebuhagen
• Farveriet
• Reuse Park

Products and services

• Martin Linges vei 33 (ML33 / SEE Fornebu)
• Snarøyveien 30 (S30) The largest building in the Fornebu area, idyllically located by the sea with 200,000 m² of space. Features staff restaurants, cafés, The Hub training center, and parking for approximately 1,800 vehicles. Targeted at large enterprise office tenants.
• Snarøyveien 36 (Fornebu Works) A dynamic full-service building at Fornebu with 58,343 m². BREEAM In-Use Excellent certified with auditorium, training room, staff restaurant, coffee bar, and proximity to the sea. Targeted at modern office tenants.
• Terminalbygget Modern office property centrally located at Aker Brygge with 24,480 m² total area. Features bright office spaces and underwent total rehabilitation 2013-2015. Targeted at office tenants seeking central Aker Brygge location.
• Verkstedhallene Historical workshop halls at Aker Brygge spanning 30,275 m² with protected facades. Features Business Village co-working space and The Village restaurant. Targeted at office and retail tenants seeking historic character.
• Telegrafen Historic building in Kongens gate spanning 25,467 m² with BREEAM In-Use Excellent certification. Combines offices, restaurants, cafes, and shops, designed by architects Arnstein Arneberg and Magnus Poulsson. Targeted at office and retail tenants in Oslo CBD.
• Aker Brygge Marina Marina facility at Aker Brygge with 175 boat berths, 100m pier leading to 160m promenade. Includes Brygga Bar for events and hospitality services. Targeted at boat owners and marina visitors.
• Business Village (Co-working) Co-working space operated at Verkstedhallene, Aker Brygge, offering flexible workspace solutions. Targeted at small businesses, freelancers, and companies seeking flexible workspace in a premium waterfront location.

Quantifiable outcome

• 92.3% occupancy rate achieved across portfolio
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• MarinreperatøreneminorStrategic or Co-development PartnerSince summer 2022, Norwegian Property collaborates with Marinreperatørene, a non-profit foundation that works to clean, preserve, and repair the Inner Oslo Fjord. This collaboration aligns with NPRO's sustainability strategy encompassing Sustainable Development Goal 14 (Life Below Water). The partnership includes cleaning activities both above and below water, concrete environmental measures, and projects with potential to be scaled up for other coastal areas in Norway.
• Asplan ViakminorStrategic or Co-development PartnerAsplan Viak developed the life cycle analysis (LCA) used to calculate climate and environmental impact for the Reuse Park project in Nydalen. The LCA was used to compare environmental impact against conventional projects.

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Nyfosa AB: Swedish commercial real estate company owning logistics, warehouse, and office properties across the Nordics. Comparable Nordic CRE owner/manager but with a heavier logistics tilt than NPRO.
• Heimstaden AB: Major Nordic residential and commercial real estate owner operating across Sweden, Denmark, Germany, and Norway. Comparable scale and Nordic CRE owner profile, though predominantly residential with some commercial exposure.
• Samhällsbyggnadsbolaget i Norden AB (SBB): Large Nordic real estate company focused on community service properties and residential assets. Comparable as a major Nordic CRE player with public-company scale, though different asset mix.
• Kungsleden AB: Swedish commercial real estate company owning and managing office, industrial, and retail properties in Nordic growth regions. Comparable Nordic CRE owner/manager profile, though more diversified geographically.
• Castellum AB: One of the largest Nordic commercial real estate companies, with diversified office, logistics, and mixed-use properties across Sweden and Denmark. Comparable in scale and category, but broader geographically and by asset class.

Direct peers

• Fabege AB: Swedish office-focused real estate company concentrating on prime Stockholm locations. Highly comparable operating model, asset scale, and tenant profile; notably, Fabege shares were transferred to NPRO as part of the December 2025 share capital increase.
• Entra ASA: Entra is a leading Norwegian owner, manager, and developer of prime office properties, primarily in Oslo. Direct peer to Norwegian Property given the shared Oslo-centric office focus, similar tenant base, and public-company profile.
• Hufvudstaden AB: Swedish premium office and retail property company focused on prime Stockholm locations. Closely comparable in strategy of owning and managing high-end commercial properties in central urban districts, similar to NPRO's Aker Brygge and CBD focus.
• Atrium Ljungberg AB: Swedish commercial property developer and owner focused on urban retail and office environments in Stockholm growth areas. Comparable mix of office, retail, and mixed-use destination-style assets similar to NPRO's Aker Brygge and Fornebu strategy.

Regional players

• Wihlborgs Fastigheter AB: Swedish commercial property company focused on the Öresund region (Malmö, Lund, Copenhagen). Comparable Nordic CRE owner/manager and operating model but operates in a different Nordic geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries39 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Norwegian Property