Selvaag

What Selvaag does

Selvaag AS is a family-owned Norwegian investment holding company headquartered in Oslo and the parent entity of the Selvaag Group. Founded in 1948 by civil engineer Olav Selvaag, the group has built more than 70,000 homes over 75+ years and is one of the longest-established real estate developers in Norway. Selvaag AS invests primarily in wholly and partly owned subsidiaries focused on property investment, residential development, and urban destination development; its geographic footprint spans the Oslo region, Stavanger, Bergen and Trondheim, with over 99% of revenue generated in Norway.

The group operates through three core property platforms: Selvaag Bolig ASA (majority-owned and separately listed on Oslo Børs) develops and sells residential properties, including the differentiated Plussboliger concept offering extra services and security to buyers; Selvaag Eiendom develops, leases and operates commercial properties (office, retail, dining, logistics) with an explicit sustainability focus; and Selvaag By executes long-cycle urban destination and district projects, including subsidiaries such as Snøbyen and the co-owned Union Eiendomsutvikling (Drammen). Non-real-estate activities are run through Selvaag Invest (100% owned, financial investments outside real estate), and Urban Property (20% owned) provides land financing to Selvaag Bolig. The group also operates the SNØ indoor year-round snow arena (opened January 2020) as a unique recreational asset.

The business model combines one-time residential property sales, recurring commercial rental income, and project-based income from large urban developments, distributed via direct B2C sales (residential), direct B2B leasing (commercial tenants), and partnership-based execution with municipalities and co-developers for urban districts. The Selvaag Art Collection — over 1,500 works with sculpture parks at Tjuvholmen and Peer Gynt-parken at Løren — functions as a brand and place-making differentiator. The company is family-controlled through brothers Olav H. Selvaag and Gunnar Frederik Selvaag, with Tore Myrvold serving as CEO; Selvaag Bolig ASA's separate listing provides part of the group with public-market capital and governance.

Name

Selvaag

Legal name

Selvaag AS

Website

https://selvaag.no

Company type

Private

Founded year

1948

Operating status

Operating

Headcount range

11–50 employees

Short description

Selvaag AS is a family-owned Norwegian holding company (parent of the Selvaag Group since 1948), operating in residential development via Selvaag Bolig, commercial property via Selvaag Eiendom, and urban destination development via Selvaag By, serving Norwegian home buyers, commercial tenants and municipal partners.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Management of Companies and Enterprises (55)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Residential property development
• Commercial real estate leasing
• Urban destination development
• Property investment management
• Sustainable neighborhood development

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Residential Property Development and Sales: Selvaag Bolig develops and sells residential properties, from land acquisition to completed homes. This includes the Plussboliger concept offering extra service, experiences and security for buyers.
2. Commercial Property Rental and Management: Selvaag Eiendom develops, rents out and operates commercial properties including office, retail, dining, and logistics spaces with a sustainable perspective.
3. Urban Destination Development: Selvaag By focuses on large, long-term urban development projects including destinations, districts and living environments through subsidiaries like Snøbyen and Union Eiendomsutvikling.
4. Investment Activities: Selvaag Invest (100% owned) makes financial investments outside real estate. Urban Property (20% ownership) finances land plots for Selvaag Bolig. These investment activities constitute a significant portion of the group's values.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Selvaag AS is a family-owned investment company that owns and operates a Norwegian real estate group focused on residential property development (Selvaag Bolig), commercial property rental and management (Selvaag Eiendom), and large-scale urban destination and district development (Selvaag By). It also makes financial investments outside real estate through Selvaag Invest and finances land through Urban Property.

Differentiator

Problem solved

Functional benefit

Products and services

• Selvaag Bolig Residential property development arm of the Selvaag Group that develops and sells new-build homes across Norway from land acquisition through completed, key-ready homes. Serves individual buyers and families, with offerings including the Plussboliger concept for added services and security.
• Selvaag Eiendom

Quantifiable outcome

• Over 70,000 homes built since 1948
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered minor and core.

• KB Gruppen (Favn)minorStrategic or Co-development Partner · 1 January 2021KB Gruppen became co-owner of Selvaag Prosjekt AS (now Favn) in 2021, taking 50% stake to support further development of the renovation company specialized in renewal of housing cooperatives.
• Union EiendomsutviklingminorStrategic or Co-development Partner · 1 January 2021Co-owned with Aspelin Eiendom, focuses on central urban development projects in Drammen including Union brygge.
• Tjuvholmen KS (Aspelin Eiendom)coreStrategic or Co-development Partner · 1 September 2012Joint venture with Aspelin Eiendom to develop Tjuvholmen district in Oslo, including residential, commercial, retail and dining spaces. Created Tjuvholmen sculpture park with works by internationally renowned artists including Anish Kapoor, Franz West, Louise Bourgeois. Renzo Piano designed the sculpture park and adjacent Astrup Fearnley Museum.
• Aspelin RammcoreStrategic or Co-development Partner · 1 January 2003Development partner for Tjuvholmen project together with architect Niels Torp, winning the competition to develop the area.
• Niels TorpminorStrategic or Co-development Partner · 1 January 2003Architect firm that partnered with Selvaag to win the Tjuvholmen development competition.
• Renzo PianominorStrategic or Co-development PartnerWorld-renowned architect who designed the Tjuvholmen sculpture park and the new Astrup Fearnley Museum on Tjuvholmen.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• OBOS BBL: Norwegian member-owned residential developer and property manager operating across Norway, directly comparable to Selvaag Bolig's residential development and Selvaag Eiendom's ownership activities.
• Olav Thon Gruppen: Large Norwegian family-owned real estate group combining commercial property holdings, residential development and hotel operations in Norway and Sweden, mirroring Selvaag's diversified Nordic footprint.
• Heimstaden AB: Pan-Nordic residential property investor and developer active in Norway and Sweden, comparable to Selvaag's residential rental ambitions (Selvaag Utleiebolig) and Bolig portfolio.
• Aspelin Ramm Eiendom: Norwegian residential and commercial developer known as Selvaag's partner on Tjuvholmen and other Oslo projects; directly competes for the same urban land and municipal partnerships.

Broad incumbents

• Veidekke ASA: Norwegian contractor and residential developer with significant property development operations across the Nordics; competes with Selvaag Bolig for land and Selvaag By for urban development mandates.
• Entra ASA: Oslo-headquartered commercial real estate company focused on office and workspace; comparable to Selvaag Eiendom's commercial letting and management business.
• JM AB: Swedish residential developer focused on the Stockholm and Nordic markets; directly comparable to Selvaag Bolig's Stockholm-listed operating geography.
• Bonava AB: Swedish-based residential developer active across the Nordics and Northern Europe; comparable residential build-to-sell model to Selvaag Bolig's subdivision homebuilding operations.
• AF Gruppen ASA: Norwegian construction and property group with significant residential and commercial development, comparable to Selvaag's broader construction-adjacent activities including Selvaag Prosjekt/Favn.
• Peab AB: Major Swedish-based Nordic construction and residential development company; comparable in residential build-out and urban district delivery across the Nordics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/selvaag

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds

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 Selvaag