NIB increases lending to OBOS Eiendom in Oslo
NIB has signed a 10-year NOK 800 million loan with OBOS Eiendom AS for the Construction City cluster in Oslo, Norway. This loan replaces the 5-year NOK 600 million construction phase loan signed with Construction City Eiendom AS, a subsidiary of OBOS Eiendom AS, on 18 January 2022.
Construction City, a 105,000 m² science park in Oslo, aims to supercharge the building industry by bringing talent and technology together under one roof.
Some 4,000 professionals from 50–70 organisations, spanning architects and contractors to universities and start-ups, will collaborate there to drive innovation and lift sector performance.
The project is about 92 % built and is targeting BREEAM-NOR “Excellent” certification. The construction is scheduled to be fully completed by the end of 2025.
Nils Morten Bøhler, CEO for Commercial Real Estate at OBOS said: “NIB is a financial institution that sets high standards for the environment, sustainability, and innovation, and shows genuine interest and curiosity in how we work and develop commercial real estate. We are proud to be able to meet the requirements and expectations NIB has set for the project, which align with our own ambitions. NIB has greatly contributed to our ambition for collaboration, and we look forward to continued good cooperation.”
Patrick Nylund, Senior Banker, Industry & Real Estate at NIB: “The Norwegian construction and real estate industries will now have a new meeting point in the cluster building Construction City in Oslo. Within its walls, innovation in areas such as construction processes and green building technologies will be fostered, benefiting Norwegian infrastructure, housing, and other developments.”
The OBOS Group is the largest housing developer in Norway and engages in the development and sale of homes and properties, banking and financial solutions, property management, real estate brokerage, and other forms of service production in the housing and property sector. The organisation is cooperatively owned by its members. OBOS was established in 1929 to provide a solution to Oslo’s housing problems.
NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.
Contact information:
Patrick Nylund, Senior Banker, Industry & Real estate, at +358 10 618 0329, patrick.nylund@nib.int
Vytautas Brazaitis, Senior Communications Officer, +358 618 0235, vytautas.brazaitis@nib.int
