Real Estate
Value development
At year-end 2025, Ferd’s real estate portfolio had a value of NOK 12.5 billion. The year was characterized by high activity across the portfolio, with progress in several major urban development projects and a number of successful sales launches contributing positively to value development. Adjusted equity value at year-end 2025 amounted to NOK 5.1 billion, an increase of NOK 432 million compared with 2024.
Ferd Eiendom is a responsible and long-term urban developer. We preserve history, understand the present, and develop for the future. Through diligence, innovation, and a strong commitment to sustainability, we create value beyond financial return.
Organisation
Ferd Eiendom has 23 employees covering key areas of expertise within commercial real estate, residential development, and urban development, as well as asset management, investment, finance, economics, and marketing. In 2025, the organization was further strengthened through four new hires.
Market situation
2025 was a challenging year for the real estate industry, and market conditions are expected to remain demanding going forward. Nevertheless, Ferd Eiendom benefits from characteristics that provide resilience in such a market, including long-term ownership that enables flexibility and a long-term perspective in the development of larger projects.
The portfolio is well positioned with centrally located residential and urban development properties along key public transport corridors, as well as commercial properties in attractive and established areas. At the same time, the business is affected by high construction and capital costs, in line with the rest of the industry.
Portfolio
Residential
Ferd Eiendom develops residential projects along public transport corridors and hubs in the Oslo region.
In 2025, successful sales launches and construction starts were completed for the Kobberkvartalet project in Asker and Kleven Gård in Bærum.
At Kleven Gård, 37 new townhouses as well as semi-detached and terraced homes are being developed. The original barn and two historic residential buildings will be preserved and restored. The barn will, among other things, include shared facilities, a guest apartment, and workshop space. First occupancy is planned from January 2027.
Kobberkvartalet will comprise a total of approximately 420 apartments across several buildings and blocks. Sales commenced in March 2025, and construction start for the first phase has been approved, with planned occupancy in 2028.
Ferd Eiendom will also continue the development of Sander kvartal and Skolekvartalet, located in the centre of Ski. The projects will form a new neighbourhood with apartments, townhouses, commercial premises, shared areas, and a small public square.
The framework application for Sander kvartal has been submitted. Sales launch for the first phase is planned for spring 2026. The project will comprise 210 apartments and approximately 1,500 square metres of commercial space, with completion planned for 2029.
Skolekvartalet will consist of 228 apartments and townhouses. The zoning plan has been unanimously approved, and sales launch is expected during 2028.
Commercial Properties
Ferd Eiendom invests in commercial properties in the Oslo region, primarily within Ring 3 and close to public transport hubs. The portfolio includes both income-generating assets and development properties.
Hieronymus Heyerdahls gate 1 is an office building in the heart of central Oslo, comprising 13,700 square metres, and is fully leased.
Brynsveien 14 at Helsfyr is a modern full-service building completed in 2019, offering high environmental standards. The property comprises 15,700 square metres and has an occupancy rate of 87 percent.
Blåswixveien 5 in Lillehammer comprises 14,400 square metres and accommodates production, logistics, showroom, and office facilities. The tenant is BRAV AS, a major player within the sports and outdoor industry.
In the development portfolio, Ferd Eiendom has two larger projects: Trekanttomten and Vitaminen.
Trekanttomten is planned as an office building of approximately 25,600 square metres, centrally located between Vika and Aker Brygge. The zoning proposal was submitted for final administrative review in 2025 and will subsequently be subject to political approval. Construction start is planned for 2026.
Vitaminen is planned as a modern office building of approximately 19,000 square metres. The zoning proposal for the new office building at Vitaminveien 1B at Storo has been submitted for public consultation, with estimated construction start during 2027.
Marienlyst
Ferd Eiendom’s largest urban development project is Marienlyst, where a vibrant urban district with residential, commercial, and cultural uses is being developed. In 2025, the zoning proposal for Marienlyst was submitted. The plan comprises approximately 1,200 homes, a broadcasting house of around 40,000 square metres, and approximately 20,000 square metres designated for commercial use. The project is currently under zoning, with estimated construction start in 2029/2030.
Sustainability
To structure our sustainability efforts, Ferd Eiendom developed a sustainability strategy in 2024 that applies across all properties and projects. The strategy is structured around four main themes: social responsibility, climate-friendly and resilient buildings, a responsible value chain, and resource use and nature.
Within each of these themes, we have established clear ambitions and, where possible, concrete goals and measures. Going forward, sustainability considerations will be integrated from the early stages of all new projects to ensure sound decisions from the outset. Systematic and continuous competence development is also a key part of our strategic efforts, ensuring knowledge-based decision-making and strong project execution.
Our priority themes are the result of a double materiality assessment conducted in autumn 2023, analysing how Ferd Eiendom impacts climate, environment, and people, as well as how we are affected by external factors such as climate change and evolving expectations from customers and tenants.
For further information on Ferd Eiendom’s sustainability work and future ambitions, reference is made to the Sustainability Report.
Outlook
Ferd Eiendom holds a portfolio of urban development and residential projects, in addition to commercial properties in Oslo within Ring 3 and close to public transport hubs. This positions the company well for value creation in 2026 and beyond.
At the same time, Ferd Eiendom will continue to pursue new investment opportunities that can leverage Ferd’s investment capacity and competitive advantages. The primary focus will be on office properties and residential projects in central growth areas with strong public transport access in the Oslo region.
Risk diversification at group level, combined with flexibility and a long-term perspective, enables Ferd Eiendom to adopt a more development-oriented approach than many other real estate companies. This provides Ferd Eiendom with a competitive advantage as an urban developer.