NIB finances timber office building in Gothenburg
NIB has signed a 10-year loan agreement with Vasakronan AB for the construction of Kaj 16 in Gothenburg, one of Sweden’s largest timber building projects, where 12 of the 16 storeys will be built in wood. The property will be certified under LEED at the highest Platinum level.
The SEK 1 billion (EUR 91 million) loan will co-finance the construction of the 30,000 sqm office building of mixed-use space for large companies, entrepreneurs and innovators.
Move‑in is planned from mid‑2027. SEB will be the anchor tenant, leasing 12,800 sqm under a 10-year agreement, representing 42% of the space.
The project prioritises sustainability and innovation, reusing materials from the demolished on-site structure, integrating solar panels, and implementing energy-efficient solutions to meet Energy Class A standards.
Thomas Nystedt, Group Treasurer at Vasakronan, says: “The Nordic Investment Bank has a strong climate focus and places high sustainability demands on the companies and institutions it lends to. That is why we are pleased and proud that the bank has, on several occasions, granted loans to Vasakronan for projects that meet very high sustainability standards.”
André Küüsvek, NIB President and CEO, says:“Vasakronan is a frontrunner in sustainable newbuilds in the Nordics. With Kaj 16, they show what climate-smart urban development can achieve, combining innovative timber construction and circular material uses.”
Vasakronan AB is the Nordic region’s leading commercial property developer and is jointly owned by Sweden’s three national pension funds. The company owns, manages and develops properties in Stockholm, Gothenburg, Malmö and Uppsala.
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.
For further information, please contact
Tony Mäkynen, Director, Head of Industry & Real Estate, NIB, +358 10 618 0523, tony.makynen@nib.int
Arild Moen, Associate Director, Communications, NIB, +358 10 618 0496, arild.moen@nib.int
