Format Eiendom

What Format Eiendom does

Format Eiendom AS is a Norwegian real estate development company headquartered in Sem (Tønsberg), Vestfold, founded in 2001 as part of the Kaupang Invest AS corporate group and operated by approximately 10 employees under a cross-functional engineering and competence model. The company develops, plans, builds, and sells residential apartments and houses primarily in the Vestfold region (Tønsberg, Sandefjord, Larvik, Holmestrand, Færder), with a flagship phased residential project called Kjellelia and additional projects including Eikelund, Hjemseng Brygge, Stokke Hageby, Ollebukta, Ranviktoppen, Ørsnes Brygge, and Ilebrekke Takhage.

The commercial side of the business comprises three integrated activities: construction and management of commercial properties (notably Ringdalskogen 8/Jotronbygget at 11,000 m² in Larvik, Nygårdsveien 76 in Sandefjord, and Innlaget 5 in Skoppum/Horten); development and sale of commercial land at Borgeskogen Næringspark (Sandefjord, ~130 hectares hosting ~130 companies) and Åskollen Næringsområde (Sem/Tønsberg, ~76 acres); and project execution for related entities including Kaupang Invest AS and Kanalen Eiendom AS. Customers include individual residential buyers, enterprise commercial tenants (Jotron, XXL, Coop Extra, Rheinmetall Nordic, ABK-Qviller), and government clients (DSB).

The business model is project-based and lumpy: revenue is generated from one-time residential unit sales, recurring commercial rental income from owned properties, one-time commercial land sales through SPV structures, and managed commercial property services. Go-to-market combines direct-to-consumer sales coordinators for residential buyers with enterprise field sales for commercial tenants, supported by a project-specific microsite architecture, Finn.no listings, and on-site model apartments. The company ranked 2nd nationally in the 2025 KTI (Customer Satisfaction Index) with a score of 91 versus an industry average of 77, and has sold approximately 1 billion NOK in residential properties over the past 6 years.

Name

Format Eiendom

Legal name

Format Eiendom AS

Website

https://formateiendom.no

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Nonresidential Building Construction (2362)

SIC

Real Estate (6500)

akta.pro primary industry

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

akta.pro secondary industry

New Construction & Builder Sales (BPAJAAAB)

Keywords

• Residential property development
• Commercial property development
• Commercial land sales
• Real estate engineering services
• Property management leasing

Headquarters

HQ city

Sem (Tønsberg)

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential property development and sales: Development, planning, construction, and sale of residential apartments and housing units in Vestfold. The company has sold approximately 1 billion NOK in residential properties over the past 6 years. Properties include apartment buildings under the Kjellelia brand and various housing projects across Tønsberg, Sandefjord, and Holmestrand.
2. Commercial property development, construction, and management: Construction and management of commercial properties. Format Eiendom owns and manages a commercial property portfolio in Vestfold including office buildings, industrial buildings, and warehouses. Properties include Ringdalskogen 8 (Jotronbygget) in Larvik, Øvre Langgt 50, Søeberg gate 3 in Sandefjord, and E18 Kontorsenter at Åshaugveien 68 in Sem.
3. Commercial land (næringstomter) sales: Sale of commercial land plots in designated industrial areas. Format Eiendom sells commercial land at Borgeskogen Næringspark (Sandefjord) and Åskollen Næringsområde (Sem, Tønsberg). Land is sold through share companies (aksjeselskap).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Format Eiendom AS is an engineering and competence company that develops, plans, builds, and sells residential housing (apartments and townhouses) in Vestfold, Norway. In parallel, the company constructs and manages commercial real estate (office, production, and warehouse space) and develops and sells commercial land plots (næringstomter) in designated industrial parks such as Borgeskogen and Åskollen. Customers range from individual residential buyers to enterprise tenants and corporate property buyers in the Vestfold region.

Product overview

Format Eiendom is a Norwegian real estate development company specializing in residential and commercial property development in the Vestfold region. The company offers a portfolio of residential apartment projects (Kjellelia, Eikelund, Hjemseng Brygge, Stokke Hageby, Ørsnes Brygge, Ollebukta, Ranviktoppen, Ilebrekke Takhage) and commercial properties (Ringdalskogen 8, Innlaget 5, Nygårdsveien 76). Additionally, they develop commercial land areas including Borgeskogen Næringspark and Åskollen Næringsområde. The company follows a full-cycle development philosophy, managing projects from planning through construction and sale/delivery. Kjellelia is their flagship residential project with multiple building phases, while commercial projects like the Jotron headquarters at Ringdalskogen demonstrate their industrial and office development capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Kjellelia residential development (Tønsberg) A multi-phase residential development project in Tønsberg with approximately 109 apartments distributed across high-rise buildings and townhouses, emphasizing green outdoor areas, parcel gardens (parsellhager), greenhouses, and social meeting spaces designed by landscape architects. Aimed at individual residential buyers seeking new-build housing with sustainable design and attractive common areas.
• Hjemseng Brygge residential development (Færder) A residential development in Færder with 41 apartments currently for sale to individual buyers.
• Eikelund residential development (Holmestrand) A residential development in Holmestrand with 21 apartments for individual buyers.
• Stokke Hageby residential development (Sandefjord) A residential development in Sandefjord with 23 apartments for individual buyers.
• Ollebukta residential development (Tønsberg) A residential development in Tønsberg with 23 apartments for individual buyers.
• Ranviktoppen residential development (Sandefjord) A completed residential development in Sjøstrand, Sandefjord with 28 spacious apartments, each featuring two large balconies facing different directions for optimal sunlight, sold to individual buyers.
• Ørsnes Brygge residential development (Færder) A completed residential development with waterfront location in Færder, sold to individual buyers.
• Ilebrekke Takhage residential development (Tønsberg) A completed residential development in Tønsberg with 16 apartments featuring a rooftop garden concept, sold to individual buyers.
• Ringdalskogen 8 (Jotronbygget) commercial property (Larvik) An 11,000 m² commercial building in Larvik comprising offices, production facilities, and warehouse space, featuring innovative energy solutions including hybrid ventilation, solar panels, and geothermal energy wells. Jotron occupies 10,500 m² as the main tenant; additional space is available for lease to business tenants.
• Innlaget 5 commercial property (Skoppum, Horten) A 4,065 m² office, industry, and production property in Skoppum, Horten, on a 13,000 m² plot with 70 outdoor parking spaces and on-site amenities including a canteen, roof terrace, training rooms, meeting rooms, and a gym. Offered to business tenants.
• Borgeskogen Næringspark commercial land park (Sandefjord) A commercial industrial park in Sandefjord spanning approximately 200 acres, offering plots for sale (~5 acres) and development for lease (~170 acres) for production, workshop, service, storage, and craft businesses. Currently hosts approximately 130 companies with around 3,000 employees. Format Eiendom handles sales and further development of additional areas within the park.
• Åskollen Næringsområde commercial land area (Tønsberg / Sem) A commercial area in Tønsberg near E18 spanning approximately 76 acres, with about 36 acres available for sale. Regulated for food industry, storage, production, and logistics uses. Major food industry tenants include Nortura and Tine. Format Eiendom is involved in sales and development of the remaining land.
• Commercial property management and leasing service Ongoing management, leasing, and servicing of Format Eiendom's owned commercial property portfolio across Vestfold (offices, industrial buildings, warehouses), handled by an in-house property manager (Glenn Thore Andersen) with direct outreach to businesses.
• Full-cycle real estate development service (plan to handover) A full-service engineering and development offering covering the entire building process from planning and regulation through construction to completion and quality-assured handover, applied across residential and commercial projects. Delivered by an in-house cross-functional team of civil engineers, economists, and project managers for landowners, joint-venture partners, and internal projects.

Quantifiable outcome

• 2nd place nationally in KTI (Customer Satisfaction Index) 2025 with score 91 vs. industry average 77
• +2 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature3 records

Partnerships

Eight partnerships are on record, tiered minor.

• AS Prosjektas (historical predecessor)minorOthersFounded in 1976 by Ole Johan Olsen as a consulting company with up to 40 engineers, primarily serving Telemark. In 1981, Prosjektfinans was started for real estate development, sold to Byggholt in 1999 (now part of JM Norge). Ole Johan Olsen was also a central shareholder in Telemark og Vestfold Entreprenør AS (later became part of PEAB).
• Hjertnes EiendomminorStrategic or Co-development Partner50% co-owner of the Nygårdsveien 76 property (5,500 m²) in Sandefjord alongside Format Eiendom. Format Eiendom served as project manager for the construction of both buildings on the property.
• Vestfold Næringstomter ASminorStrategic or Co-development PartnerDeveloped Borgeskogen Næringspark since the early 1990s. The business park spans approximately 1,300 mål (approx. 130 hectares). Format Eiendom has been involved in further regulation and development of additional areas for sale within the park.
• Tore Haraldstad & CominorImplementation/ SI/ Consulting PartnerContractor engaged for foundation work (grunnarbeidene) on the last building phase (Lavendel & Spirea) of Kjellelia project. Started work after Easter.
• Melby Snekkerverksted ASminorStrategic or Co-development PartnerMelby Snekkerverksted AS won the 'Årets trapp 2020' (Staircase of the Year 2020) competition in Germany in the innovation category. The staircase was installed at Jotron's new headquarters at Ringdalskogen, Larvik. Format Eiendom AS had the project management role.
• Loe Betongelementer ASminorImplementation/ SI/ Consulting PartnerSupplier of prefabricated concrete elements for the Bøkekrona building at Kjellelia. Their mobile crane (175 tons, 50 meter boom) was used on site.
• Åskollen Utvikling ASminorStrategic or Co-development PartnerOwner of approximately 76 mål (7.6 hectares) of land at Åskollen Næringsområde near Nortura and Tine. Two plots have been sold to Glacio and Malvik Vask og Terminal AS. Format Eiendom is involved in sales and development of the remaining land.
• Pene Rom BoligstylingminorImplementation/ SI/ Consulting PartnerInterior styling company that furnished the model apartment (visningsleilighet 603) in Eikekrona at Kjellelia for property viewings.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• JM Norge: One of Norway's largest residential developers, active across multiple regions with new-construction apartments and townhouses. Direct competitor for residential land and buyers in the Vestfold/Eastern Norway corridor; notably acquired Prosjektfinans (founded by the same Ole Johan Olsen) in 1999, evidencing direct historical lineage.
• Block Watne: Norwegian residential developer building single-family homes, townhouses, and apartments primarily in Eastern Norway. Comparable in delivering new-construction residential product to the same Vestfold/Eastern Norway buyer pool.
• OBOS: Large Norwegian residential developer and cooperative building society with new-construction housing across Norway. Comparable in offering new-build apartments and housing for sale, with broader geographic reach and member-based demand.
• Selvaag Bolig: Norwegian residential property developer focused on new-build apartments in the Oslo region and Eastern Norway. Directly comparable customer base (apartment buyers in Eastern Norway) and product type (new-construction apartments).

Emerging players

• Aspelin Ramm: Norwegian real estate developer focused on residential and mixed-use developments, primarily in the Greater Oslo region. Comparable in project type and target market, though typically larger urban infill projects rather than Vestfold corridor.

Broad incumbents

• Veidekke Entreprenør: Major Scandinavian construction and property developer with significant residential and commercial operations in Norway. Competes in the same commercial building and housing development space, but with much broader scale and a wider portfolio.
• Skanska Norge: Norwegian arm of the global Skanska construction and development group, active in residential, commercial, and infrastructure projects. Competitor for larger commercial property tenders and residential developments in Eastern Norway.
• Malling & Co: Norwegian commercial real estate advisor and operator with substantial office and commercial property portfolio exposure. Comparable in the commercial property management and leasing segment that Format Eiendom operates via Ringdalskogen and Innlaget.
• Peab: Nordic construction and civil engineering company with Norwegian residential and commercial development operations. Historically connected to Format Eiendom's predecessor (Telemark og Vestfold Entreprenør AS became part of PEAB); competes for larger commercial building contracts.

Regional players

• Steen & Lund: Norwegian family-owned real estate developer with strong presence in the Vestfold/Tønsberg region. Directly comparable geographic focus and product mix (residential and commercial properties in Vestfold), making it the closest local peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/formateiendom
• Instagraminstagram.com/format_eiendom
• LinkedInlinkedin.com/company/formateiendom

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Format Eiendom