Nordic Investment Bank provides €67m for science park project

The Nordic Investment Bank (NIB) is increasing its support for Oslo's Construction City project with a 10-year, NOK 800 mln (€67.6 mln) loan to Norwegian housing developer OBOS Eiendom. 

Construction City

This new loan replaces a previous NOK 600 mln (€50.7 mln) loan.
Construction City, a 105,000 m² science park in Oslo’s Ulven area, aims to foster collaboration and innovation in the building industry by bringing together approximately 4,000 professionals from Norway's construction, civil engineering, and real estate industries.
The project is about 92% complete, targeting BREEAM-NOR "Excellent" certification, and is scheduled for full completion by the end of 2025.
OBOS, Betonmast, and AF Gruppen will relocate their headquarters to Construction City in 2025.
Nils Morten Bøhler, CEO for Commercial Real Estate at OBOS said: “NIB is a financial institution that sets high standards for the environment, sustainability, and innovation, and shows genuine interest and curiosity in how we work and develop commercial real estate. We are proud to be able to meet the requirements and expectations NIB has set for the project, which align with our own ambitions. NIB has greatly contributed to our ambition for collaboration, and we look forward to continued good cooperation.”
Patrick Nylund, senior banker, Industry & Real Estate at NIB: “The Norwegian construction and real estate industries will now have a new meeting point in the cluster building Construction City in Oslo. Within its walls, innovation in areas such as construction processes and green building technologies will be fostered, benefiting Norwegian infrastructure, housing, and other developments.”