Framkvæmdasýslan - Ríkiseignir

What Framkvæmdasýslan - Ríkiseignir does

Framkvæmdasýslan - Ríkiseignir (FSRE) is a state-owned government agency of Iceland, headquartered at Borgartúni 26, 105 Reykjavík, responsible for the centralized management of Iceland's state-owned real estate portfolio. The agency oversees approximately 530,000 square meters of housing across 360 properties and approximately 300 farms (jarðir), providing allocation, leasing, maintenance, and facility management services to government ministries, public institutions, and Icelandic citizens. The organization was formed by unifying Framkvæmdasýslan (kt. 510391-2259) and Ríkiseignir (kt. 690981-0259) under a single state mandate, consolidating the state's role as landlord and property steward.

FSRE's core offering is the Eignasafn (Property Portfolio) system, supported by specialized services including Jarðir og auðlindir (land and resource allocation), Útboð og auglýsingar (public tenders and lease opportunities), Reikningar (billing), and Umsóknir og eyðublöð (digital applications). Service delivery is conducted through the Icelandic government digital portal (island.is) and a public-facing interactive web map (Vefsjá) provided by geo.alta.is, with phone, email, and in-person customer service channels at the Reykjavík office. No proprietary technology stack is disclosed; the platform is built on top of shared government digital infrastructure.

The business model is that of a public-sector agency funded through state appropriations and tenant fees, with a published gjaldskrá (fee schedule) for services rendered. The customer base is effectively the Icelandic government itself (as primary occupant and commissioning entity) and citizens accessing state housing or land. The agency holds no external funding, has no subsidiaries, and operates as a monopoly provider within its statutory mandate, with no disclosed commercial revenue or financial figures.

Name

Framkvæmdasýslan - Ríkiseignir

Legal name

Framkvæmdasýslan - Ríkiseignir

Website

https://fsre.is

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Framkvæmdasýslan - Ríkiseignir (FSRE) is an Icelandic government agency managing 530,000 sqm of state housing across 360 properties and ~300 farms, providing property management, leasing, and land allocation to government institutions and citizens.

Ownership category

akta.pro rank

Product category

Government Real Estate Management

NAICS

Real Estate Property Managers (53131), Nonresidential Property Managers (531312), Residential Property Managers (531311)

SIC

Real Estate Agents & Managers (For Others) (6531), Lessors Of Real Property, Nec (6519), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Public Property & Asset Management (Federal Buildings, Fleet, Land) (BPAIAAAJ)

akta.pro secondary industries

Commercial Real Estate Asset Management (BPAJAMAB), Senior & Assisted Living Residential Property Management (BPAJAFAE)

Keywords

• State property management
• Government real estate services
• Public housing administration
• Land leasing services
• Government facility maintenance

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure

Distribution channels3 records

Marketing channels2 records

Core offering

Framkvæmdasýslan - Ríkiseignir (FSRE) manages Iceland's state-owned real estate portfolio on behalf of the Icelandic government, overseeing approximately 530,000 square meters of housing across 360 properties and around 300 farms. The agency provides property allocation, leasing, maintenance, billing, and facility management services to government entities, public institutions, and citizens.

Product overview

Framkvæmdasýslan - Ríkiseignir (FSRE) is a government real estate management agency operating as a unified service platform. The core offering is the Eignasafn (Property Portfolio) system managing 530,000 square meters of housing across 360 properties plus 300 farms. This is supported by specialized services including Jarðir og auðlindir (land and resource allocation), Útboð og auglýsingar (tenders and advertisements), and a Vefsjá (web map) feature for property visualization. Additional services include billing management, application processing, and facility change handling. The organization focuses on maximizing value for Icelandic society and public finances.

Differentiator

Problem solved

Functional benefit

Products and services

• Eignasafn (Property Portfolio) Comprehensive portfolio management system covering 530,000 square meters of government-owned housing across 360 properties, plus approximately 300 farms. Manages allocation, leasing, and valuation of government real estate assets for Icelandic government entities and public institutions.
• Jarðir og auðlindir (Land and Resources) Service for allocation and rental of government-owned land. Manages natural resources under government supervision and provides information about purchasing plots and farms. Available to government entities, citizens, and prospective land buyers.
• Útboð og auglýsingar (Tenders and Advertisements) Platform for publishing public tenders, lease opportunities, and opening reports related to government properties and services. Used by government agencies for procurement and by the public for identifying lease opportunities on state assets.
• Reikningar (Billing) Billing and payment management service for FSRE tenants, handling payment deadlines, identification numbers, and invoice-related inquiries. Targets tenants occupying state-owned property managed by FSRE.
• Umsóknir og eyðublöð (Applications and Forms) Digital forms and application services for various FSRE procedures including facility change requests and maintenance reporting. Used by tenants and government entities to request changes to facilities or report maintenance needs.

Quantifiable outcome

• Managing 530,000+ square meters of housing and 360+ properties for optimal value to society and state treasury

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• JLL: Global real estate services firm offering property and facilities management at scale; broadly comparable to FSRE on the operational management of large real estate portfolios for institutional clients.
• CBRE Group: Global commercial real estate services firm providing property management among a broader portfolio of services; comparable to FSRE on the property management capability but operating commercially rather than as a state agency.
• Cushman & Wakefield: Global commercial real estate services firm offering property management and asset services; broadly comparable to FSRE in managing real estate assets for institutional owners but as a commercial operator.
• U.S. General Services Administration (GSA): U.S. federal agency managing government buildings, real property, and fleet assets at scale, broadly comparable to FSRE but operating across a much larger federal estate.
• Colliers: Global real estate services and investment management firm with property management offerings; broadly comparable to FSRE in the property management function though operating as a commercial firm globally.

Direct peers

• Statens Fastighetsverk: Swedish National Property Board managing state-owned real estate including historic and government buildings, directly comparable to FSRE's mandate as a Nordic state property steward.
• Statsbygg: Norwegian government's key advisor and property manager for state-owned buildings, directly comparable to FSRE as a Nordic state property agency managing public real estate portfolios.
• Senaatti-kiinteistöt (Senate Properties): Finnish state-owned enterprise managing government work environments and properties, directly comparable to FSRE's role in administering Iceland's central government real estate.
• UK Government Property Agency: UK government body responsible for managing the central government office estate, directly comparable to FSRE's role in housing and commercial property for the Icelandic state.
• Bygningsstyrelsen: Danish Building and Property Agency managing state-owned buildings and offices, directly comparable to FSRE's mandate in Iceland as a state property operator.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks2 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/framkv%C3%A6mdas%C3%BDslan-r%C3%ADkiseignir

Revenue estimate

Valuation estimate

Number of profiles

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 Framkvæmdasýslan - Ríkiseignir