All agreed loans

Norway. OBOS Eiendom AS

Date of agreement: 12 Jun 2020
Country: Norway
Customer: OBOS Eiendom AS
Amount in NOK: NOK 550 million
Amount in EUR: EUR 50.84 million
Maturity: 7 years
NACE sector / loan type: Real estate activities
Business area: Industries and services

This loan contributes to climate change mitigation: 100%

Project

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

Productivity
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.

Environment
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:

Productivity

  • Vacancy rate or office space rented out three year after completion overall and for Oslo K

Environment

  • BREEAM certification level, square meters constructed and certified
  • Use of energy,  kWh/m2 per year and MWh year

Sustainability summary

NIB has not identified any concerns.

Press release

NIB låner til bygging av OBOS kontorbygg Oslo K