Eik Fasteignafelag

What Eik Fasteignafelag does

Eik Fasteignafélag hf. is an Icelandic publicly listed commercial real estate company (Nasdaq Iceland: EIK) that owns, develops, and manages a diversified portfolio of office, retail, warehouse, and industrial properties across Iceland. Its core assets include Turninn (The Tower) at Smáratorgi 3 in Kópavogur — Iceland's tallest building at 78 meters and 20 floors and the company's headquarters — Glerártorg, the largest shopping center in Northern Iceland (17,670.4 sqm in Akureyri), the historic Kvosin district in central Reykjavik (~7,000 sqm), and the Akkur flexible office hotel at Ármúli 13 in Reykjavik. The portfolio spans 100+ properties totaling over 300,000 sqm of leasable space, with primary holdings in the greater Reykjavik capital area plus Kópavogur, Akureyri, and Selfoss.

The business operates on a B2B direct-lease model: properties are marketed through the company website (eik.is) and direct negotiations with prospective tenants, with pricing quote-based by property type, size, location, and lease term. Revenue is generated primarily through long-term commercial rental contracts (subscription/recurring), supplemented by short-term serviced-office revenue from the Akkur office hotel. The company maintains a 94.8% economic occupancy rate, anchored by enterprise tenants such as Össur (3,200 sqm R&D center), HS Orka, Expectus, Men&Mice, Itera, and Nettó, alongside retail, F&B, healthcare, and SMB tenants. The company is led by CEO Hreiðar Már Hermannsson and CFO Lýður Heiðar Gunnarsson, operates three wholly-owned subsidiaries (Eik rekstrarfélag ehf., Landfestar ehf., EF16 ehf.), and funds its portfolio through public equity and listed Icelandic bond issuances (most recently EIK 150531, ISK 3,980 million at 4.00% yield, March 2026).

Name

Eik Fasteignafelag

Legal name

Eik fasteignafélag hf.

Website

https://eik.is

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

Eik Fasteignafélag hf. is a publicly listed Icelandic commercial real estate company (Nasdaq Iceland: EIK) that owns and manages a diversified portfolio of 100+ office, retail, warehouse, and industrial properties across Iceland, anchored by landmark assets like Turninn tower and Glerártorg shopping center, serving enterprise and SMB tenants primarily through long-term direct leases.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Real Estate Property Managers (53131)

SIC

Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Healthcare & Medical Office Property Management (BPAJAGAF)

Keywords

• Commercial real estate leasing
• Office property management
• Retail real estate
• Flexible office space
• Warehouse industrial leasing

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Property Rental: Rental income from commercial real estate portfolio including office spaces, retail properties, and warehouse/industrial facilities. Revenue is recurring from long-term leases with tenants. Q1 2026 operating revenues of ISK 3,509 million, up 19.5% year-on-year.
2. Flexible Workspace (Office Hotel Akkur): Short-term flexible office leasing providing serviced offices and meeting rooms without long-term commitment, targeting freelancers, small businesses, and companies seeking flexibility

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Eik fasteignafélag hf. is an Icelandic commercial real estate company that owns and leases office, retail, warehouse, and industrial properties across Iceland. The portfolio includes flagship assets such as Turninn (Iceland's tallest building at Smáratorg 3), the Akkur office hotel offering flexible short-term workspace, and the Gleráartorg shopping center in Akureyri. The company provides professional property management, maintenance, and tenant services to commercial tenants.

Product overview

Eik Fasteignafélag is an Icelandic real estate company offering a diversified portfolio of commercial properties for rent. The company's product portfolio centers on three main offerings: (1) Akkur - an innovative office hotel service providing flexible, fully-furnished workspaces with short-term commitment options; (2) The Tower (Turninn) - a flagship 20-story office building at Smáratorg 3, Iceland's tallest building; and (3) an extensive property portfolio including office spaces, retail spaces, warehouse/industrial facilities, and the Glerártorg shopping center in Akureyri. The company also operates the Kvosin historic commercial district. Eik manages over 100 properties across Iceland with approximately 300,000+ sqm of commercial space, providing property management, maintenance, and tenant services.

Differentiator

Problem solved

Functional benefit

Products and services

• Skrifstofuhótelið Akkur (Office Hotel Akkur) Flexible office rental service offering fully furnished offices and workspaces on short-term contracts without long-term commitments. Located at Ármúla 13, providing amenities including meeting rooms, common areas, and kitchen facilities.
• Turninn (The Tower) Iceland's tallest building at 78 meters with 20 floors, featuring modern office spaces in the heart of the Kópavogur business district. Houses various tenants including companies and individuals in office spaces of various sizes.
• Gleráartorg Shopping Center The largest shopping center in Northern Iceland, located in Akureyri. Owned by Eik and home to various retail tenants including Nettó supermarket.
• Commercial Property Portfolio Commercial real estate portfolio including office spaces (Skrifstofuhúsnæði), retail spaces (Verslunarhúsnæði), and warehouse/industrial spaces (Lager- og iðnaðarhúsnæði) across Iceland, primarily in the greater Reykjavik area.
• Tuttugasta hæðin (20th Floor) Premium office space on the top floor of The Tower with panoramic views, approximately 910 sqm across main and mezzanine levels. Features high-end finishes and interior design.
• Kvosin Historic Commercial District Historic commercial district buildings in central Reykjavik (Kvosin) comprising approximately 7,000 sqm of office and retail space along Hafnarstræti and Austurstræti.

Quantifiable outcome

• 94.8% economic occupancy rate maintained across portfolio
• +2 more outcomes

Named customers14 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Arkís ArkitektarcoreStrategic or Co-development PartnerArchitectural firm that designed multiple Eik properties including the Turninn (The Tower) and renovation projects at Suðurlandsbraut 10 and other properties. Long-standing partnership in property development and renovation.
• Gallup IcelandminorStrategic or Co-development PartnerConducted market research for Eik's office hotel concept (Akkur), informing design decisions and service offerings for flexible workspace product.
• Stáss ArkítektacoreStrategic or Co-development PartnerArchitecture firm collaborated on Men&Mice office design at Suðurlandsbraut 10, customizing space based on employee needs assessment.
• Deloitte ehf.coreOthersExternal auditors for Eik fasteignafélag, providing annual financial statement audits and assurance services. Auditors are Eyþór Guðjónsson and Signý Magnúsdóttir.
• Nasdaq IcelandcoreOthersStock exchange where Eik fasteignafélag bonds are listed, including EIK 150531 bond series. Company is listed on Icelandic securities market.
• TP Bennet (London)minorStrategic or Co-development PartnerInternational architecture firm previously collaborated with Eik on property projects, brought in for special design projects like Brút restaurant at Eimskipafélagshúsið.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• NP3 Fastigheter AB: Smaller Swedish diversified commercial real estate company with a mix of office, retail, warehouse and industrial assets — a smaller-scale analog to Eik's diversified commercial portfolio.

Broad incumbents

• Balder AB: Large Swedish diversified REIT with Nordic and European exposure across residential, commercial, and hospitality — comparable to Eik as a public commercial property platform, though much larger and more diversified geographically.
• Hufvudstaden AB: Swedish premium office and retail real estate company with landmark properties in Stockholm — comparable to Eik given its portfolio of landmark, prime-location buildings like Turninn and Gleráartorg.

Direct peers

• IWG plc: Global operator of flexible and serviced office brands (Regus, Spaces, HQ); directly comparable to Eik's Akkur office hotel offering and useful as the global benchmark for the flexible workspace segment of Eik's portfolio.
• Castellum AB: Sweden's largest listed commercial real estate company with a diversified portfolio of office, logistics, and retail properties across the Nordics — directly comparable in business model (commercial leasing, asset management, public REIT) to Eik.
• Wihlborgs Fastigheter AB: Swedish commercial real estate company with a portfolio of office, retail, and logistics properties concentrated in the Öresund region — comparable to Eik in property mix, public listing, and long-lease tenant relationships.
• Fabege AB: Swedish office-focused REIT concentrated in the Stockholm region; a close peer to Eik given its office-heavy portfolio mix, urban prime-location strategy, and similar long-term lease economics.
• Atrium Ljungberg AB: Swedish commercial real estate company focused on urban retail and office properties in growth regions; a close peer to Eik in mixed-use commercial leasing, prime urban locations, and long-cycle tenant relationships.
• Reginn hf. Icelandic commercial real estate investment company listed on Nasdaq Iceland with a portfolio of office, retail, and industrial properties across the country — a direct domestic competitor to Eik in the same Icelandic commercial RE market.
• Catena AB: Nordic logistics and warehouse-focused real estate company; directly comparable to Eik's warehouse/industrial segment and useful for benchmarking the performance of Eik's logistics exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/eik-fasteignafelag-hf

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

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 Eik Fasteignafelag