Norway. OBOS Eiendom AS
|Date of agreement:||12 Jun 2020|
|Customer:||OBOS Eiendom AS|
|Amount in NOK:||NOK 550 million|
|Amount in EUR:||EUR 50.84 million|
|NACE sector / loan type:||Real estate activities|
This loan contributes to climate change mitigation: 100%
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Green buildings
Amount disbursed: EUR 51.1 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
NIB is providing the loan to finance the construction of a 30,000 square metre BREEAM NOR Excellent office building, “Oslo K”, in Kværnerbyen in Oslo.
The new premises will have space to accommodate 1,500–2,000 employees. The new office building will be completed in the autumn of 2021.
Oslo K will be OBOS’ first BREEAM Excellent green building–certified building.
OBOS is the largest housing developer in Norway. OBOS 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 a cooperative owned by its members and was established in 1929 to provide a solution to Oslo’s housing problems.
Fulfilment of NIB's mandate
In the new post-pandemic world, drivers shaping the sector are interior design of offices to enable safe distances between workers, urbanisation and the adoption of new technologies. There is an imperative to build in a more sustainable way with more emphasis on digital and flexible solutions for remote work. These factors are driving demand for certified modern buildings and higher standards for office space are likely to attract tenants with high environmental standards.
Energy supply to the building is from the district heating system and power distribution grid. The floor layout design is flexible and it can be modified where necessary. Thanks to its location, the building is within easy reach of public transportation.
Indicators for the expected impact of the investment:
- Vacancy rate or office space rented out three year after completion overall and for Oslo K
- BREEAM certification level, square meters constructed and certified
- Use of energy, kWh/m2 per year and MWh year
NIB has not identified any concerns.