What Varde Eiendom does

Varde Eiendom AS is a privately-held Norwegian residential real estate developer founded in 2016 by Helge F. Hellebust. The company takes projects from unregulated raw land through to turnkey finished homes, producing apartments, row houses, semi-detached homes, and single-family houses across the Østlandsområdet region of Eastern Norway, including Bærum, Oslo, Asker, Ski, Moss, Lier, Drøbak, Son, and Hvitsten. The company's portfolio comprises 15 active projects, with 800 homes under development, 39 under construction, and 90 cumulative completed homes reported on its website.

The business operates a vertically integrated development model that combines land acquisition (either through purchase or binding development partnerships with landowners), regulatory/permitting work, design (using external architects such as Lundhagem for premium projects), construction management via skilled contractors, and direct sales to end buyers. Distribution is executed through the company website, the FINN.no property marketplace, and partnerships with real estate brokers such as Attentus Eiendom. Revenue is generated from one-time unit sales; example pricing shows Solberggrenda townhouses starting from NOK 6,490,000 for 107–159 sqm units, with larger waterfront projects (Norrøna Brygge, Landøyveien, Øvre Lian Terrasse) delivering 40–60 apartments each. There are no disclosed recurring revenue streams, technology platform, or AI components.

The company is founder-owned and privately held (organization number 919 261 188), headquartered at Høvikveien 2A in Høvik (Bærum) inside Villa Solares, a 1898 Art Nouveau building. Operations are run by a compact four-person team: Helge F. Hellebust (CEO, former Investment Director at Ferd Capital and Norsk Hydro background, NTNU engineering degree), Thomas Glenne Ellingsen (CFO, NHH economics, joined 2021 from RSM), Per Eirik Espeland (Property Manager, joined 2022 from Frøiland Bygg Skade AS), and Andreas Storstrøm (Project Manager, building engineer). Marketing is supported by the digital agency vY Communication, and investor capital appears to come from the founder and unspecified financially strong partners.

Name

Varde Eiendom

Legal name

VARDE-EIENDOM AS

Website

https://vardeeiendom.no

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Varde Eiendom AS is a Norwegian residential property developer founded in 2016 that builds apartments, townhouses, and single-family homes in Eastern Norway (Østlandsområdet), selling directly to homebuyers through its website, FINN.no, and broker partners.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Land Subdivision (23721)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

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

Keywords

• Residential real estate development
• Housing project development
• Apartment construction
• Residential property sales
• Home building Norway

Headquarters

HQ city

Høvik

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Property Sales: Revenue generated from developing and selling residential properties including apartments, townhouses, and single-family homes. The company takes projects from unregulated land to turnkey finished homes.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Varde Eiendom is a residential property developer that acquires or partners on raw, unregulated land and develops it into sellable housing—apartments, townhouses, semi-detached homes, and single-family homes—for individual home buyers in the Østlandsområdet region of Eastern Norway. The company manages the full development pipeline from initial site identification and municipal regulation through construction with external contractors to turnkey home delivery.

Product overview

Varde Eiendom is a residential real estate developer that develops housing projects across the Østlandet (Eastern Norway) region. The company offers a portfolio of 15 residential development projects including apartments (leiligheter), row houses (rekkehus), semi-detached houses (tomannsboliger), and single-family homes (eneboliger). Projects range from single buildings to larger developments with amenities such as EV charging, balconies, roof terraces, caretaker services, and gym facilities. The company operates from its headquarters at Villa Solares on Høvik in Bærum and manages the full development process from unregulated land to turnkey homes, with current portfolio including 800 homes under development, 90 completed homes, and 39 homes under construction.

Differentiator

Problem solved

Functional benefit

Products and services

• Solberggrenda 24 family row houses at Nygårdsveien 26 in Ski, ranging from 107-159 sqm, sold through Attentus Eiendom starting from NOK 6,490,000, with modern standard and waterborne heating.
• Norrøna Brygge 60 exclusive waterfront apartments at Stranda 68-70 in Moss, designed by architectural firm Lundhagem, with west-facing sun, private beach access, and views.
• Landøyveien 55 apartments spread across 3 terraced garden houses with extensive green areas near the waterfront on Landøya.
• Over Torshov 34-unit apartment building (punktbygg) at Østgaards gate 44 in the Sagene district of Oslo. Sales launch March 2025.
• Hagely 18 apartments at Leangveien 58, Båstad in Asker, on a sunny plot with views towards the Oslofjord near Asker center.
• Skogstien 21 3 high-standard single-family homes with multiple outdoor spaces and potential for a caretaker unit (praktikantdel).
• Strandveien 4 architect-designed single-family homes at Strandveien 103, Hvitsten, with excellent sun conditions and views over the Oslofjord. Frame application in progress.
• Industriveien Development site in Industriveien 40-48, part of Bærum municipality's plan to transform the Industriveien-Hamang area into an attractive urban district. Area regulation in progress.
• Alicenborg Approximately 60 daa property on a hill with panoramic views and excellent sun conditions near Son center. Regulation of single-family homes on generous plots in progress.
• Lillevannsveien 72 19 architect-designed row houses on a large south and west-facing plot with views in Voksenlia. Project under regulation; expected sales launch autumn 2025.
• Terrasseveien Mixed residential development featuring apartments, row houses, semi-detached, and single-family homes in Bærum, located near Høvik Stasjon. Currently in planning/feasibility study phase.
• Furulunden 6 apartments in two buildings in a classic residential area between Sollerud and Bestum with views over Lysakerfjorden.
• Stoppenkollen Sikt 14 terraced units with views over Drammensfjorden and immediate proximity to Drammensmarka at Stoppenkollen 17-19, Lier.
• Øvre Lian Terrasse 40 apartments in terraced development with views over Drammensfjorden and Lieråsen at Øvre Lianvei 21-23-25, Stoppenkollen.
• Husvikholmen 9 unique waterfront apartments with spectacular views to Oscarsborg Fortress in Drøbak, an architecturally distinctive project inspired by maritime surroundings.
• Property Development Sourcing (Eiendom søkes) Ongoing offering to landowners: Varde Eiendom either purchases the property outright or enters into a binding development partnership with the landowner, with the aim of creating attractive new homes while contributing positively to the local neighborhood.

Segments2 records

Ideal customer profiles2 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 core.

• Attentus EiendomcoreChannel Partner/ Reseller/ DistributorEstate agent partnership for Solberggrenda project sales. Attentus Eiendom provides real estate brokerage services including agent Hans Martin Tonne ([email protected], 95 96 37 73) and Anders Borgen ([email protected], 45 22 22 22) handling sales.
• Lundhagem (Architect)coreStrategic or Co-development PartnerAward-winning architect firm Lundhagem has designed the Norrøna Brygge project - an exclusive apartment project in Moss. The firm is known for high-quality architectural design.

Scale indicators3 records

Broad incumbents

• OBOS: Norway's largest housing cooperative and a major residential developer in Eastern Norway. Operates at much greater scale than Varde across similar Bærum/Oslo geographies, making it a broad incumbent benchmark for product and pricing.
• Veidekke Entreprenør / Bolig: Norway's largest contractor with a substantial for-sale residential development arm covering Oslo, Bærum and surrounding municipalities. Comparable buyer demographic and product mix to Varde.
• Skanska Bolig (Norway): Norwegian arm of Skanska, one of the largest Nordic contractors, with a residential development business in Oslo and Eastern Norway. Comparable for-sale residential product targeting end-buyers.
• OBOS Block Watne (combined group): Norwegian homebuilder acquired by OBOS, producing single-family and multi-unit residential product in the Østlandsområdet — directly comparable geographic and product overlap with Varde.

Direct peers

• Block Watne: Norwegian homebuilder developing single-family homes, townhouses and apartments in the Oslo region and other Eastern Norway municipalities — directly comparable small-format residential product.
• Bonava: Swedish-listed homebuilder with Norwegian operations developing for-sale apartments and townhouses in the Oslo region. Mirrors Varde's project-driven, multi-unit for-sale product model in Østlandsområdet.
• Selvaag Bolig: Major Norwegian residential developer building for-sale apartments and homes in the Oslo region. Directly comparable to Varde's Østlandsområdet focus on mid-market, mid-rise residential product with similar raw-land-to-turnkey model.
• Solon Eiendom: Norwegian residential developer focused on the Greater Oslo region building for-sale homes on owned and optioned land. Comparable boutique-style project pipeline approach to Varde.
• Höegh Eiendom: Norwegian family-owned developer focused on high-quality residential and mixed-use projects in the Oslo region — particularly comparable to Varde's premium architectural positioning and Østlandsområdet focus.
• JM Norge (JM AB): Norwegian arm of Swedish residential developer JM, building apartments and small homes in Eastern Norway with a comparable land-development-to-completion workflow.

Market position

Strengths5 records

Weaknesses5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/vardeeiendom.no
• LinkedInlinkedin.com/company/varde-eiendom-as
• Instagraminstagram.com/vardeeiendom

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Varde Eiendom