Kjeldsberg

What Kjeldsberg does

Kjeldsberg is a family-owned Norwegian real estate development and management company headquartered in Trondheim. Founded in 1856 and now in its fifth generation of family ownership, it develops, owns, and operates commercial real estate concentrated in Central Norway, with a footprint spanning Trondheim and Bodø. Its portfolio includes named office and commercial assets — Alo, Stålgården, Folia, Lysgården, Kraftbygget, Teknologihuset, and Bodø Næringspark — and it serves enterprise tenants including Veidekke, DDN GL, and Sweco. Kjeldsberg's economic model is lease-based: it monetizes assets via long-term office and commercial rents, supplemented by development margin on new construction and JV-led redevelopments.

The company's product positioning is anchored in sustainability and premium-grade office space. Alo is marketed as Norway's first office building to achieve simultaneous WELL Platinum and BREEAM Outstanding certifications, distinguishing Kjeldsberg's stock in the Central Norway market. The firm runs a lean operating model with ~17 employees, indicating a high revenue-per-employee productivity structure relative to typical regional landlords. There is no disclosed use of AI, proprietary technology platforms, or data products; the competitive edge is asset quality, location, certification, and family-ownership continuity rather than technology.

Historically, Kjeldsberg operated a sizable wholesale business that reached approximately NOK 4 billion in revenue at its 1998 peak, but this business was divested between 1997 and 2005. The company is now a focused real estate operator, with recent strategic emphasis on the E.C. Dahls Bryggeri area in Trondheim — acquired in 2019 in partnership with Heimdal Bolig and NorgesGruppen, and expanded via the subsequent acquisition of E.C. Dahls Eiendom. Bodø Næringspark, hosting roughly 70 businesses with combined revenue near NOK 1 billion, represents a deliberate northbound geographic extension. Revenue, profit, and headcount figures are not publicly disclosed.

Name

Kjeldsberg

Legal name

R. Kjeldsberg AS

Website

https://kjeldsberg.no

Company type

Private

Founded year

1856

Operating status

Operating

Headcount range

11–50 employees

Short description

Kjeldsberg is a fifth-generation, family-owned Norwegian real estate developer and landlord headquartered in Trondheim, operating sustainability-certified commercial office and business park assets across Central Norway including Trondheim and Bodø.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Nonresidential Building Construction (2362), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Real Estate Property Managers (53131)

SIC

General Bldg Contractors - Nonresidential Bldgs (1540), Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Office & Corporate Building Construction (IMAFACAA)

akta.pro secondary industries

Community Engagement & Participatory Planning (BPAHAKAO), Renovation, Remodeling & Tenant Improvements (General Contracting) (IMAFAAAE)

Keywords

• Commercial real estate
• Property leasing
• Property development
• Urban development
• Property management

Headquarters

HQ city

Trondheim

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Property Rental and Leasing: R. Kjeldsberg AS owns and manages a portfolio of commercial properties in Trondheim and Bodø, renting out office, retail, warehouse, and industrial space to tenants. Revenue is generated through rental income from long-term and flexible lease agreements across multiple properties including Alo, Stålgården, Folia, Lysgården, Kraftbygget, Teknologihuset, and Bodø Næringspark.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Kjeldsberg owns, develops, and leases a portfolio of commercial properties — primarily office, retail, warehouse, and industrial space — concentrated in Trondheim and Bodø, Norway. The company also undertakes larger urban-development projects and applies sustainability certification (BREEAM) across its developments, while managing its properties through an in-house team. Its offering is targeted at business tenants seeking centrally located commercial premises in Central Norway.

Product overview

R. Kjeldsberg AS is a family-owned Norwegian real estate development and property management company founded in 1856, headquartered in Trondheim. The company operates a portfolio of commercial properties across Midt-Norge (Central Norway) and offers integrated services including property development, property management (Eiendomsforvaltning), urban development (Byutvikling), and the tenant dialogue concept Kjeldsberg Dialog. The company manages 14+ buildings primarily located in the Sluppen area of Trondheim, plus Bodø Næringspark, totaling approximately 100,000+ sqm of commercial space. Notable flagship properties include the ALO building (first in Norway to achieve both Well Platinum and Breeam Outstanding certifications), Lysgården, Stålgården (recipient of Eiendomsprisen 2015), and Folia. The company positions itself as the best property developer and manager in Midt-Norge, emphasizing sustainability (BREEAM certification for projects, Miljøfyrtårn certification) and long-term value creation.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Property Leasing Leasing of office, retail, warehouse, and industrial premises to corporate tenants from Kjeldsberg's owned portfolio across Trondheim and Bodø, including named buildings such as Kraftbygget, Alo, Stålgården, and Folia.
• Commercial Property Development Development of commercial real estate projects — including office, retail, warehouse, and industrial buildings — for Kjeldsberg's own portfolio, applying BREEAM sustainability certification standards.
• Urban Development Projects Larger-scale urban development activity in Trondheim and Bodø, leveraging the company's long-term ownership and development capabilities to shape urban districts around its portfolio.
• Property and Asset Management Ongoing in-house management of Kjeldsberg's owned commercial properties and tenant relationships across the Trondheim and Bodø portfolio.
• Available Premises Listing Listing and marketing of currently available office, retail, warehouse, and industrial premises within the Kjeldsberg portfolio to prospective corporate tenants.

Quantifiable outcome

• 100% of tenants would recommend others to lease from Kjeldsberg (2024 customer survey)

Named customers6 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered major and supporting.

• Heimdal BoligmajorStrategic or Co-development Partner · 1 January 2019In 2019, R. Kjeldsberg together with Heimdal Bolig and NorgesGruppen acquired the E.C. Dahls Bryggeri area from Carlsberg. The plan is to develop the area with housing and commercial space.
• NorgesGruppenmajorStrategic or Co-development Partner · 1 January 2019In 2019, R. Kjeldsberg together with Heimdal Bolig and NorgesGruppen acquired the E.C. Dahls Bryggeri area from Carlsberg. The plan is to develop the area with housing and commercial space.
• NGBC (Norsk Grønt Byggenæring)supportingStrategic or Co-development PartnerKjeldsberg is a member of NGBC, a membership organization for the building and property sector in Norway. NGBC's purpose is to raise environmental standards in Norwegian buildings. NGBC is the national rights holder for BREEAM and LEED certifications in Norway.
• Hegstad BlakstadsupportingOthersHegstad Blakstad operates the personal restaurant (canteen) at the Alo building, which serves good, healthy, and nutritious food. The same operator also runs the restaurant Mana in the same building.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Ferd Eiendom: Ferd's real estate division invests in and develops commercial properties in Norway. Comparable as a Norwegian owner-developer with similar mixed-use commercial orientation and long-term capital base.
• AF Eiendom: Real estate development arm of AF Gruppen, focused on developing and managing commercial real estate in Norway. Comparable in development-led approach with adjacent construction capability.
• Olav Thon Gruppen: One of Norway's largest privately held real estate groups, owning and managing a national portfolio of commercial and retail properties. Comparable to Kjeldsberg in full-stack property ownership, leasing, and long-term family ownership.
• Entra ASA: Entra is Norway's largest pure-play commercial office landlord, listed on Oslo Børs. Kjeldsberg runs the same integrated develop–own–lease–manage model at a smaller, more regionally concentrated scale in Midt-Norge, making Entra the closest publicly traded comparable.
• Steen & Lund: Trondheim-based commercial real estate company active in Central Norway development and ownership. Operates in the exact same Midt-Norge region as Kjeldsberg, with overlapping tenant types and product mix.
• Norwegian Property ASA: Norwegian Property owns and manages a portfolio of prime office properties in central business districts, similar in pure office-focus to Kjeldsberg's Lysgården, Alo, and Folia assets. Useful for benchmarking premium-Norway office valuations.
• KLP Eiendom: KLP's real estate arm owns and develops commercial properties across Norway's largest cities. Comparable in owning institutional-grade office and mixed-use assets with emphasis on sustainability and long tenancy.

Broad incumbents

• Bonheur ASA: Norwegian investment company with real estate among several business areas. Comparable as a long-horizon Norwegian holding with property ownership, though diversified across other sectors.
• OBOS Eiendom: OBOS is one of Norway's largest member-owned real estate developers, with broader residential and commercial focus. Comparable in scale and integrated development/management, though predominantly residential.
• Bane NOR Eiendom: State-owned developer/manager of commercial real estate in station-city areas across Norway. Comparable as a portfolio operator of commercial properties with sustainability mandates, though very different ownership structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/RKjeldsbergAS
• LinkedInlinkedin.com/company/r-kjeldsberg-as

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 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 Kjeldsberg