Norway. Eiendomsspar AS
|Date of agreement:||23 Mar 2022|
|Amount in NOK:||NOK 410 million|
|Amount in EUR:||EUR 40.8 million|
|NACE sector / loan type:||Construction|
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Green buildings
Amount disbursed: EUR 42.9 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
The loan has been provided for the Norwegian real estate company Eiendomsspar AS for the refurbishment and building of BREEAM-NOR Excellent certified buildings Fabrikken and Veksthuset in Oslo, Norway.
The BREEAM-NOR Excellent certified “Fabrikken” building is a refurbished existing commercial building that covers an area of approximately 17,000 square metres and has been rented out to the School of Arts, Design, and Media of Kristiania University College. The Fabrikken building was completed in summer 2021.
The “Veksthuset” is a new building which will have a gross area of approximately 24,000 square metres and expected to be BREEAM-NOR Excellent certified. The completion of Veksthuset is scheduled for 2024.
Both buildings are part of one of Oslo city centre’s largest urban development projects “Urtekvartalet”, which consists of two rehabilitated buildings, the “Fabrikken” and “Drivhuset”, and a new building that is the “Veksthuset”. The project will support the positive development of the Grønland area in Oslo.
Fulfilment of NIB's mandate
Fabrikken offers new premises for the School of Arts, Design and Media of the Høyskolen Kristiania, concentrating the campus to one location and becoming significantly more suited as a learning environment. The new structure will likely increase the efficiency and quality of teaching activities and offer students more opportunities to interdisciplinary collaboration across fields of art and media.
Moreover, the location of the school is expected to contribute to urban development and help to increase attractiveness of the Grønland area in Oslo.
Both the Fabrikken and Veksthuset building will be certified in accordance with the BREEAM-NOR Excellent green building certificate, which is the second highest certification class and evaluates the sustainability performance of the building.
NIB has not identified any concerns.