Ten years have passed since the fund was given a mandate to invest in unlisted real estate. Today, the fund is one of the world’s largest real estate investors. Unlisted real estate has had a positive contribution to the fund’s return, in addition to reducing the risk.
Today, we publish a management review of the last ten years of real estate investments. The publication describes our strategy and provides insight into the choices we have made and the experiences we have gained. In addition, it contains an extensive overview of the buildings we own in the different cities.
The real estate investments have had an annual return of 7.7 percent after costs. The value of the portfolio is 273 billion kroner, which makes the fund one the world’s largest institutional investors.
”We have emphasised building a global, but concentrated portfolio of properties. It has been important for the fund to find high-quality properties that we can own for a long time. The decade of investing in real estate has in all respects been a positive one for the fund”, says Yngve Slyngstad, CEO of Norges Bank Investment Management.
It has also been important to build a global organisation with solid real estate expertise, as well as to ensure that we have deep insight into and a clear presence in the markets in which we are invested.
”We have had a gradual build-up. Today, the fund is well positioned as a leading global real estate investor”, says Karsten Kallevig, Chief Investment Officer Real Estate.
The publication is only available in English.
Press contact:
Line Aaltvedt
Manager, Communications and External Relations
Tel.: + 47 948 54 656
E-mail: press@nbim.no
The fund was given a mandate to invest in real estate in April 2010. This publication on the 10th anniversary sums up a decade of real estate investing, and provides an overview of our investments.