Eiendomsspar

What Eiendomsspar does

Eiendomsspar AS is a Norwegian real estate company founded in 1982 and controlled by Victoria Eiendom AS (which became the parent company in 2019 after buying out the Sundt family's stake). Headquartered at Fridtjof Nansens plass 4 in Oslo, the company owns, develops, and manages a portfolio spanning commercial offices and retail, residential rentals, hotels, and industrial/logistics assets across Norway, with a current emphasis on prime Oslo CBD locations. Its product offering is organized into three segments: commercial properties (Næring), residential properties (Bolig) in Oslo, Bergen, and Svolvær, and hotel properties (Hotell) including direct ownership of the Grand Hotel in Oslo and a 27% stake in Pandox AB, the Swedish hotel property group listed on NASDAQ Stockholm.

The company earns recurring rental income from commercial, residential, and industrial tenants, complemented by hotel revenue from the Grand Hotel and equity-method income from its 27% Pandox AB stake, an 8.2% stake in Scandic Hotels Group AB (post the November 2025 partial sale), and an 8.8% stake retained after the 2025 co-take-private of Dalata Hotel Group plc with Pandox. Property management is supported by ISO 9001 certification held continuously since 1996 and ISO 14001 certification since 2022, with select assets holding BREEAM In-Use Very Good ratings; sustainability is operationalized through seven solar installations covering ~9,500 sqm (~2 MWp, ~1.6 GWh annually) and an NIB-financed energy-refurbishment program upgrading properties from energy class F/G to C.

The business operates through a direct-to-consumer leasing model: Eiendomsspar markets and leases its own properties through an in-house leasing team and corporate website (eiendomsspar.no), without third-party brokers. Customers span enterprise tenants such as DNB, Siemens Energy (1,000+ employees in Veksthuset), Sweco, Høyskolen Kristiania, the Norwegian Refugee Council, and Vincci, alongside a long-tail of residential tenants. Recent strategic activity has been aggressive, including the €1.4B Dalata co-acquisition, the 430M NOK Scandic share placement, multiple landmark acquisitions (Tryvannstårnet, Hotel Heimen Bergen), and the 415M NOK NIB green-loan facility, with Urtekvartalet (45,000 sqm) slated for end-2026 completion.

Name

Eiendomsspar

Website

https://eiendomsspar.no

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

11–50 employees

Short description

Eiendomsspar is a 1982-founded Norwegian real estate company, controlled by Victoria Eiendom AS, that owns, develops, and manages commercial, residential, and hotel properties across Norway with prime Oslo CBD exposure and equity stakes in Pandox AB and Scandic Hotels Group.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Nonresidential Property Managers (531312), Lessors of Real Estate (5311), Rental and Leasing Services (532)

SIC

Operators Of Nonresidential Buildings (6512), Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)

akta.pro primary industry

Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

akta.pro secondary industries

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA), Hospitality (Hotel) Property Management (BPAJAGAG)

Keywords

• Commercial real estate
• Property management
• Hotel ownership
• Residential rental
• Real estate development

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Property Rental: Rental income from commercial properties including office, retail, and warehouse/logistics spaces across Norway. Properties are owned and managed by Eiendomsspar with direct leasing to tenants.
2. Residential Property Rental: Rental income from residential apartments and housing units in Oslo, Bergen, and Svolvær.
3. Hotel Operations: Hotel ownership and co-investments through Pandox AB (27% ownership) and direct ownership of Grand Hotel. Hotel properties generate rental income and operational returns.
4. Equity Investments: Strategic equity stakes in publicly traded companies including Scandic Hotels Group (~8.2% ownership post partial sale in November 2025) and Pandox AB (27% stake).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Eiendomsspar owns, develops, and manages a portfolio of commercial properties (offices, retail, and industrial/logistics), residential rental apartments, and hotel properties across Norway, with extension into the UK and Ireland through equity stakes in Pandox AB (27%) and the jointly-acquired Dalata Hotel Group. Revenue is generated through direct leases to commercial tenants, residential tenants, and hotel operators, plus capital returns and dividends from its listed equity holdings in Pandox and Scandic Hotels Group.

Product overview

Eiendomsspar operates as a property management and development company with three core business segments: commercial properties (office and retail), hotels, and residential rentals. The company manages a diverse portfolio of properties across Norway, with commercial spaces in major cities including Oslo, Bergen, Tromsø, and Stavanger. The hotel operations include ownership interests in Pandox AB (Swedish hotel property group) and Grand Hotel in Oslo, plus the recently acquired Dalata Hotel Group in Ireland and the UK. The company also develops new properties and refurbishes existing ones with a focus on sustainability and energy efficiency, including solar panel installations and energy classification upgrades.

Differentiator

Problem solved

Functional benefit

Brands

• Grand Hotel: Luxury hotel property operated by Eiendomsspar
• Urtekvartalet
• Mack Kvartalet

Products and services

• Commercial Property Leasing (Næring) Management and direct leasing of commercial office, retail, and industrial space across prime Norwegian city locations, sized from small units to multi-floor offices. Customers are enterprises seeking centrally located, sustainable, modern properties.
• Hotel Property Portfolio Ownership and management of hotel real estate across Scandinavia and Northern Europe, including direct ownership of Grand Hotel in Oslo and exposure via the 27% Pandox AB stake (NASDAQ Stockholm) plus the jointly-acquired Dalata Hotel Group portfolio in Ireland and the UK.
• Residential Rental Apartments Rental apartments and housing units in Oslo, Bergen, and Svolvær offered to individuals and families seeking rental housing, with 111 residential units added through the Bergen portfolio acquisition in 2021.
• Property Development Services Development of commercial, hotel, and residential projects including the Urtekvartalet mixed-use development in Oslo (45,000 sqm across three buildings) and Mack Kvartalet in Tromsø (hotel, offices, and market hall).
• Solar Energy Installations and Energy-Efficiency Programs Energy-efficient refurbishment and on-site solar power generation across the portfolio. Eiendomsspar operates seven solar installations (~2 MWp, ~1.6 GWh annual production) and runs energy-class upgrade programs (targeting upgrade from F/G to C) financed in part by a 415 million NOK NIB loan.

Quantifiable outcome

• Energy refurbishment upgrading properties from energy class F/G to C, reducing energy consumption by 8% target in management portfolio (15 kWh/m2 and 8.1 GWh) from 2026-2030.
• +1 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core and minor.

• Scandic Hotels Group ABcoreStrategic or Co-development Partner · 7 November 2025Following the Pandox/Eiendomsspar acquisition of Dalata Hotel Group, Scandic Hotels Group assumed operational responsibility for 56 Dalata hotels across Ireland and the UK under a management agreement effective November 7, 2025. Scandic plans to acquire the hotel operations for approximately EUR 500 million upon completion of the carve-out process expected by mid-2026.
• Pandox ABcoreStrategic or Co-development Partner · 1 January 2025Eiendomsspar holds 27% ownership in Pandox AB (together with the Sundt family), representing a total of 76% voting power. Pandox is listed on NASDAQ Stockholm. In 2025, Eiendomsspar and Pandox co-acquired Dalata Hotel Group for €1.4 billion, with Pandox taking 91.2% and Eiendomsspar maintaining its 8.8% stake. The companies have operated together in the Nordic hotel sector since Pandox's acquisition in 2003.
• Victoria Eiendom AScoreOthers · 1 January 2025Victoria Eiendom AS is the parent company of Eiendomsspar. The two companies operate as a consolidated real estate group with shared management, investor relations, and reporting. Victoria Eiendom became the main shareholder when it acquired Petter C. G. Sundt's stake in 2019.
• KaffebrennerietminorOthers · 1 January 2025Kaffebrenneriet is an established tenant in Urtekvartalet's Veksthuset building, operating as a specialty coffee shop and attraction in the development project.
• BunnprisminorOthers · 1 January 2025Bunnpris grocery store is an established tenant in Urtekvartalet, contributing to the mixed-use character of the development project as a neighborhood anchor tenant.

Scale indicators9 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Pandox AB: Swedish hotel property investor listed on NASDAQ Stockholm, in which Eiendomsspar holds 27% ownership with 76% voting power. Both companies share hotel property ownership as a core business, co-acquired Dalata Hotel Group in 2025, and have a 50/50 partnership dating to 2003.
• Entra ASA: Norwegian commercial real estate company focused on prime office properties in Oslo, Bergen, Stavanger, and Trondheim. Comparable as a Norwegian office landlord with central-business-district concentration and similar institutional tenant base.
• Norwegian Property ASA: Norwegian commercial real estate company specialising in prime office properties in Oslo, focusing on CBD and Skøyen locations. Highly comparable portfolio overlap with Eiendomsspar's central Oslo office holdings.
• Malling & Co: Norwegian commercial real estate company focused on prime office and retail properties in central Oslo. Comparable as a central-Oslo landlord with similar tenant mix and CBD concentration.
• Smedvig AS: Norwegian family-owned real estate investment company with diversified commercial, residential, and development properties primarily in Stavanger and Oslo. Comparable as a long-tenured Norwegian real estate owner-operator with mixed-use portfolio strategy.

Broad incumbents

• Olav Thon Group: One of Norway's largest privately-held real estate groups with extensive commercial, residential, and hotel property holdings across Norway and Sweden. Directly comparable as a long-standing Norwegian real estate owner-operator with diversified property types.
• Scandic Hotels Group AB: Largest hotel operator in the Nordic region, in which Eiendomsspar holds ~8.2%. Following the Dalata acquisition, Scandic will assume operations of 56 Dalata hotels. Comparable as a Nordic hospitality player with significant Eiendomsspar ownership overlap.
• Nordic Choice Hotels: Major Nordic hospitality group operating across Norway, Sweden, Denmark, Finland, and the Baltics. Comparable as a Scandinavian hotel owner-operator with multi-property portfolios.
• KLP Eiendom: Real estate arm of KLP, Norway's largest pension company, managing a diversified portfolio of commercial, residential, and hotel properties across Norway and the Nordics. Comparable as a large-scale Norwegian real estate investor and manager.

Regional players

• Wenaasgruppen: Norwegian family-owned hospitality and real estate group with hotels, resorts, and commercial properties across Norway. Comparable as a privately-held Norwegian owner-operator with hotel and real estate diversification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/results?search_query=eiendomsspar
• Facebookfacebook.com/eiendomsspar
• LinkedInlinkedin.com/company/eiendomsspar
• Instagraminstagram.com/eiendomsspar

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments2 records

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

Frequently asked questions about Eiendomsspar