Sector

Eiendom

6,961 companies ranked against comparable companies in four Morning company classes. Fiscal year 2024. Source: Brønnøysund Register Centre. Methodology

Morning company class

Morning company classes are our own division by revenue, not an official standard: Micro NOK 1m–10 MNOK, Small 10 MNOK–50 MNOK, Medium 50 MNOK–500 MNOK, Large from 500 MNOK. Companies are ranked only against others in the same class, and every figure below is for the class you have chosen. What are Morning company classes?

Ranking · 2024 · Morning class Medium

Morning class Medium · 2024
#	Company	Profile	Score	Change
1	Haagaas Invest AS	Leader	91	–
2	Banan II AS	Leader	90	−5
3	Starship Investments AS	Leader	88	−6
4	Ormåsen Utbygging AS	Leader	82	+37
5	Pth AS	Leader	82	+21
6	Heim Eiendom AS	Leader	77	+11
7	WALLEM STECKMEST & CO AS	Leader	77	−5
8	Tom Hagen Eiendom AS	Leader	76	−6
9	Forusbeen 50 AS	Leader	75	−10
10	Inn-Boks AS	Leader	72	–
11	Jes Eiendom AS	Leader	72	+16
12	Romerike Hus AS	Leader	71	+8
13	Entra Service AS	Steward	70	−4
14	Lars Hilles Gate 30 AS	Leader	69	−3
15	Haga Bolig AS	Leader	69	+1
16	Storm Norge AS	Leader	69	+10
17	Hotell Østre AS	Leader	69	−4
18	Arkitekt Ebbels Vei 10 AS	Leader	68	−5
19	Innspurten 7 AS	Leader	68	+5
20	J E Hovde AS	Leader	68	–
21	Hamang Næringssenter AS	Leader	68	+3
22	Borgstein AS	Leader	65	−11
23	Fredrik Selmers Vei 4 AS	Leader	64	−5
24	Sundtkvartalet AS	Leader	64	−7
25	Nordbohus Utvikling AS	Steward	64	−7
26	Brødrene Jangaard AS	Leader	64	+6
27	Mekleriet AS	Leader	64	0
28	Paradis Boligutvikling 1 AS	Steward	64	+23
29	Hygea AS	Steward	64	−7
30	Sentralen Oslo AS	Steward	64	+23
31	Deg16 AS	Leader	64	−2
32	Bygdøy Alle Eiendom AS	Leader	63	+31
33	Norsea Eiendom Tananger AS	Steward	63	−3
34	Jessheim Byutvikling AS	Leader	63	+9
35	KLP Huset AS	Leader	63	−6
36	Fyrstikkalléen 1 AS	Leader	63	−3
37	BRØDR. Bøckmann AS	Leader	63	−1
38	Agderbygg Eiendom AS	Leader	62	+26
39	Sterk Nord Vest AS	Sprinter	62	+37
40	Smalvollveien 65 Eiendom AS	Leader	62	+16
41	AS HOTEL ATLANTIC	Leader	62	+1
42	Alti Brotorvet AS	Leader	62	−18
43	DYVE & Partnere Eiendomsmegling AS	Leader	62	−7
44	Dronning Mauds Gate 1-3 AS	Leader	62	+4
45	Grand Hotel AS	Leader	61	−7
46	Lørenveien 51 AS	Leader	61	+1
47	MALLING & CO Eiendomsutvikling AS	Leader	61	0
48	Nesgata 19 Utvikling AS	Steward	61	+7
49	Østfold Lagerbygg AS	Leader	61	−8
50	Skårersletta 50 Utvikling AS	Leader	61	+25

Download as CSV (opens in Excel)

The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode

Biggest moves · Morning class Medium

Thomas Framnes Holding AS
From 2023 to 2024: went from a profit to a loss before tax and the equity ratio fell from 57.8% to 29.9%.
−43
Lerum Brygge AS
From 2023 to 2024: the equity ratio fell from 55.3% to 11.9% and revenue fell by 39%.
−39
Kirkeveien 213 AS
From 2023 to 2024: went from a loss to a profit before tax and revenue grew by 64%.
+34
Akasia Kirke og Gravplass AS
From 2023 to 2024: the equity ratio rose from 7.0% to 29.4% and the operating margin rose from −0.1% to 5.3%.
+32

Top lists in the sector · 2024 · Morning class Medium

The five largest companies account for 8% of the sector's revenue. Combined profit before tax for the 245 ranked companies: 8,310 MNOK.

Highest revenue

Eiendomsmegler 1 Sør-Norge AS 497 MNOK
Lørenveien 51 AS 491 MNOK
Skårersletta 50 Utvikling AS 482 MNOK
Kjonebråten Utvikling AS 475 MNOK
Peter Møllers Vei 8-14 AS 437 MNOK

Operating revenue.

Highest operating margin

Operating result divided by operating revenue.

Largest profit

Entra ASA 2,383 MNOK
Aspelin Reitan Eiendom ASsubsidiary of Aspelin AS 619 MNOK
Heimstaden Bostad Invest 10 AS 270 MNOK
Smalvollveien 65 Eiendom AS 205 MNOK
Hygea AS 163 MNOK

Profit before tax.

Largest loss

Victoria India Fund AS −291 MNOK
Lørenfaret Eiendom II AS −186 MNOK
Vestenfjeldske Eiendom ASsubsidiary of Reitan Eiendom AS −118 MNOK
Freserveien 1 AS −84 MNOK
Scala Trekanten AS −69 MNOK

Profit before tax, the largest negative.

Most solid

Haagaas Invest AS 99.7%
Banan II AS 99.1%
Lars Hilles Gate 30 AS 96.5%
Hygea AS 96.4%
Scala Trekanten AS 94.6%

Equity ratio: equity divided by total assets.

Fastest growth

Eiksmarka Utvikling AS +823.7%
Heim Eiendom AS +488.4%
Øvre Romerike Boligutvikling AS +481.1%
Sæter Terrasse AS +436.3%
First Floor AS +424.2%

Revenue growth from the year before, only from at least NOK 10 million in revenue.

Largest revenue decline

Revenue decline from the year before, only from at least NOK 10 million in revenue.

Biggest climbers

Kirkeveien 213 AS +34.1 points
Akasia Kirke og Gravplass AS +32.0 points
Randesund Hageby 5 AS +30.4 points
Merinokvartalet AS +29.6 points
Skårersletta 50 Utvikling AS +24.7 points

Change in index points from the year before.

Biggest fallers

Thomas Framnes Holding AS −42.4 points
Lerum Brygge AS −38.4 points
Mustad Eiendomsdrift AS −30.6 points
Lovisenberg Eiendomstjenester AS −28.6 points
Kyllo Eiendom AS −25.1 points

Change in index points from the year before.

Most employees

Alti Forvaltning AS 566
Eiendomsmegler 1 Sør-Norge AS 437
Eiendomsmegler Norge AS 259
Entra ASA 185
Newsec Property Asset Management AS 179

Employees according to the Central Coordinating Register.

Highest revenue per employee

Norsk Boligutvikling AS 49.3 MNOK
Aamodt Hus AS 28.7 MNOK
Brødrene Jangaard AS 26.8 MNOK
Leangenbukta AS 26.7 MNOK
Storm Norge AS 24.4 MNOK

Only companies with at least 5 employees.

The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.

Quadrant analysis

Positions in the sector · 2024 · Morning class Medium

Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.

Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2023 (small ring).

Smalvollveien 65 Eiendom AS profitability 2 → 88, solidity 85 → 83
Sommerro House AS profitability 2 → 80, solidity 61 → 68
Scala Trekanten AS profitability 76 → 2, solidity 81 → 98
Avantor Nydalsveien 33 AS profitability 6 → 70, solidity 67 → 68
Victoria India Fund AS profitability 40 → 0, solidity 50 → 0

Lion · LeaderHigh profitability, high solidity
Cheetah · SprinterHigh profitability, lower solidity
Elephant · StewardLower profitability, high solidity
Beaver · BuilderLower profitability, lower solidity

Show the positions as a list

Company	Profile	Profitability	Solidity	In 2023 (profitability / solidity)
Haagaas Invest AS	Lion	98	100	–
Banan II AS	Lion	98	100	85 / 100
Grand Hotel AS	Lion	95	71	94 / 66
Bilbygg AS	Cheetah	94	35	96 / 38
Hamang Næringssenter AS	Lion	91	83	–
Storm Norge AS	Lion	89	81	–
Arkitekt Ebbels Vei 10 AS	Lion	89	87	89 / 86
AS HOTEL ATLANTIC	Lion	89	78	86 / 82
Smalvollveien 65 Eiendom AS	Lion	88	83	2 / 85
Starship Investments AS	Lion	88	97	91 / 95
Forusbeen 50 AS	Lion	87	78	87 / 79
KLP Huset AS	Lion	85	92	81 / 94
Ormåsen Utbygging AS	Lion	85	73	–
KLP Citypassagen AS	Cheetah	84	8	–
Bonntjennsvegen 12-14 AS	Lion	83	66	82 / 65
Kvadrat Utvikling AS	Lion	83	80	82 / 83
AS CONTINENTALKOMPLEKSET	Cheetah	83	38	80 / 44
Hotell Østre AS	Lion	80	77	74 / 77
Wenaas Airport Hotel Gardermoen AS	Cheetah	80	49	76 / 49
Ullevålsveien 114 AS	Cheetah	80	2	–
Sommerro House AS	Lion	80	68	2 / 61
KLP Munkedamsveien 35 AS	Lion	80	57	74 / 64
Tandberg Eiendom Avdeling Sentrumsgården Heggedal AS	Cheetah	79	22	–
Terminalbygget Aker Brygge AS	Lion	78	79	77 / 84
Cathinka Guldbergs Sykehus AS	Cheetah	78	4	60 / 5
Sjøfartsbygningen Eiendoms-Og Investment AS	Cheetah	78	4	74 / 10
Strandveien 20 AS	Cheetah	77	42	82 / 38
Store Landfall AS	Cheetah	77	18	–
MALLING & CO Eiendomsutvikling AS	Lion	77	54	–
Sterk Nord Vest AS	Cheetah	77	36	–
P33 Eiendomsmegling AS	Cheetah	77	14	74 / 13
Inn-Boks AS	Lion	76	63	–
Peter Møllers Vei 8-14 AS	Cheetah	76	41	–
Fredrik Selmers Vei 4 AS	Lion	75	90	74 / 92
Lørenveien 51 AS	Lion	75	67	–
Hagegata 22-24 AS	Lion	75	72	73 / 71
Kverneland Bolig AS	Lion	75	67	76 / 74
Sandsliåsen Utbygging AS	Cheetah	74	21	62 / 22
Innspurten 7 AS	Lion	74	82	–
Gaustadalleen 21 AS	Lion	74	91	66 / 93
Deg16 AS	Lion	74	93	74 / 95
Asker HQ Invest AS	Cheetah	74	48	–
Jes Eiendom AS	Lion	74	64	–
KLP Schweigaardsgate 17-19 AS	Lion	73	85	75 / 88
Tom Hagen Eiendom AS	Lion	73	84	69 / 85
Pth AS	Lion	73	89	–
Heim Eiendom AS	Lion	73	80	–
Mekleriet AS	Lion	73	61	–
Haga Bolig AS	Lion	72	60	64 / 62
Sjølystparken AS	Lion	72	56	–

The sector in numbers

Summary · fiscal year 2024 · Morning class Medium

The sector's median operating margin is 14.4%. 7 of 249 companies have negative equity. The median equity ratio is 24.1%.

Companies with accounts249

Total revenue30,161 MNOK

Median operating margin14.4%

Median equity ratio24.1%

Share with a loss14%

Share with negative equity3%

All figures are for fiscal year 2024. Ranked: 245 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

Climbers and fallers · Morning class Medium

Change in rank from 2023 to 2024, for 168 companies ranked in both years.

Climbers

158Akasia Kirke og Gravplass ASfrom rank 213 to 5560
140Skårersletta 50 Utvikling ASfrom rank 190 to 5061
133Paradis Boligutvikling 1 ASfrom rank 161 to 2864
133Sentralen Oslo ASfrom rank 163 to 3064
130Sommerro House ASfrom rank 193 to 6359

Fallers

194Thomas Framnes Holding ASfrom rank 27 to 22128
186Lerum Brygge ASfrom rank 17 to 20335
150Lovisenberg Eiendomstjenester ASfrom rank 22 to 17243
118Mustad Eiendomsdrift ASfrom rank 126 to 24417
108Kamperhaug Boligutvikling ASfrom rank 38 to 14647

Awards · 2024 · Morning class Medium

Most profitableSmalvollveien 65 Eiendom AS313.5%

Fastest growthInn-Boks AS1,501,235.8%

Strongest balance sheetHaagaas Invest AS99.7%

Largest revenueEiendomsmegler 1 Sør-Norge AS497 MNOK

Highest revenue per employeeNorsk Boligutvikling AS49.3 MNOK

Needs attention · 2024 · Morning class Medium

140 companies show at least one warning sign. Showing the 15 most important.

criticalGardermoen Logistikkbygg ASNegative equity · Current ratio below 1 (0.91)
criticalVictoria India Fund ASNegative equity · Loss before tax
criticalHusebyenga Terrasse ASNegative equity · Loss before tax
criticalTobb Fosslia ASNegative equity · Loss before tax
criticalF1 Utvikling ASNegative equity · Loss before tax
criticalAnkerveien 90 ASNegative equity
criticalOnelog Næringspark 1 ASNegative equity
watchMustad Eiendomsdrift ASVery low equity ratio (1.5%) · Current ratio below 1 (0.95) · Loss before tax
watchMittegetlokale ASVery low equity ratio (5.8%) · Current ratio below 1 (0.80) · Loss before tax
watchVender ASVery low equity ratio (0.1%) · Current ratio below 1 (0.94)
watchNorsk Boligutvikling ASVery low equity ratio (3.9%) · Current ratio below 1 (0.97)
watchUllevålsveien 114 ASVery low equity ratio (0.0%) · Current ratio below 1 (0.31)
watchAlti Forvaltning ASVery low equity ratio (3.9%) · Current ratio below 1 (0.95)
watchLørenfaret Eiendom II ASVery low equity ratio (8.1%) · Loss before tax
watchCathinka Guldbergs Sykehus ASVery low equity ratio (1.2%) · Current ratio below 1 (0.03)

Sector map · 2024 · Morning class Medium

Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.

Show the map's figures as a table

Company	Operating margin	Equity ratio	Revenue
Haagaas Invest AS	100.0%	99.7%	149 MNOK
Banan II AS	85.8%	99.1%	152 MNOK
Starship Investments AS	90.1%	92.8%	75 MNOK
Ormåsen Utbygging AS	48.8%	44.8%	86 MNOK
Pth AS	21.8%	77.3%	52 MNOK
Heim Eiendom AS	32.8%	60.8%	71 MNOK
WALLEM STECKMEST & CO AS	47.5%	91.7%	59 MNOK
Tom Hagen Eiendom AS	59.8%	67.2%	62 MNOK
Forusbeen 50 AS	87.1%	55.4%	197 MNOK
Inn-Boks AS	19.0%	36.1%	68 MNOK
Jes Eiendom AS	34.3%	36.4%	59 MNOK
Romerike Hus AS	11.3%	42.9%	66 MNOK
Entra Service AS	5.4%	74.5%	69 MNOK
Lars Hilles Gate 30 AS	43.4%	96.5%	141 MNOK
Haga Bolig AS	19.4%	33.7%	137 MNOK
Storm Norge AS	91.9%	62.7%	122 MNOK
Hotell Østre AS	70.1%	54.9%	92 MNOK
Arkitekt Ebbels Vei 10 AS	92.7%	74.7%	67 MNOK
Innspurten 7 AS	66.5%	65.1%	61 MNOK
J E Hovde AS	10.4%	35.1%	82 MNOK
Hamang Næringssenter AS	82.5%	66.4%	50 MNOK
Borgstein AS	51.0%	68.5%	61 MNOK
Fredrik Selmers Vei 4 AS	72.1%	79.0%	108 MNOK
Sundtkvartalet AS	60.2%	92.1%	92 MNOK
Nordbohus Utvikling AS	4.9%	48.7%	56 MNOK
Brødrene Jangaard AS	34.0%	41.3%	161 MNOK
Mekleriet AS	15.3%	34.2%	60 MNOK
Paradis Boligutvikling 1 AS	−1.9%	90.4%	236 MNOK
Hygea AS	55.7%	96.4%	255 MNOK
Sentralen Oslo AS	5.2%	78.6%	70 MNOK
Deg16 AS	65.1%	86.7%	104 MNOK
Bygdøy Alle Eiendom AS	14.2%	25.2%	55 MNOK
Norsea Eiendom Tananger AS	21.6%	91.1%	160 MNOK
Jessheim Byutvikling AS	13.2%	76.8%	159 MNOK
KLP Huset AS	76.5%	82.7%	120 MNOK
Fyrstikkalléen 1 AS	51.9%	93.5%	110 MNOK
BRØDR. Bøckmann AS	33.3%	38.4%	60 MNOK
Agderbygg Eiendom AS	14.3%	31.2%	98 MNOK
Sterk Nord Vest AS	22.2%	18.4%	60 MNOK
Smalvollveien 65 Eiendom AS	313.5%	66.8%	67 MNOK
AS HOTEL ATLANTIC	76.3%	57.0%	70 MNOK
Alti Brotorvet AS	35.5%	88.3%	74 MNOK
DYVE & Partnere Eiendomsmegling AS	12.7%	34.2%	105 MNOK
Dronning Mauds Gate 1-3 AS	68.4%	86.5%	116 MNOK
Grand Hotel AS	82.8%	42.6%	142 MNOK
Lørenveien 51 AS	18.6%	39.7%	491 MNOK
MALLING & CO Eiendomsutvikling AS	34.1%	29.1%	61 MNOK
Nesgata 19 Utvikling AS	9.1%	52.5%	421 MNOK
Østfold Lagerbygg AS	68.5%	73.3%	63 MNOK
Skårersletta 50 Utvikling AS	8.5%	33.3%	482 MNOK
OK Property AS	48.7%	91.8%	158 MNOK
Store Landfall AS	39.8%	6.2%	59 MNOK
Norsea Eiendom Dusavik AS	36.6%	90.8%	140 MNOK
Jonsvoll Utleie AS	2.6%	51.7%	78 MNOK
Akasia Kirke og Gravplass AS	5.3%	29.4%	145 MNOK
Alver Bolig Utbygging AS	19.7%	13.1%	90 MNOK
Britannia Eiendom AS	42.4%	52.3%	67 MNOK
Stenersgata 1 AS	12.7%	72.5%	87 MNOK
Eiendomsmegler 1 Sør-Norge AS	5.3%	43.1%	497 MNOK
Norgesgruppen Midt-Norge AS	0.1%	83.5%	187 MNOK
Gaustadalleen 21 AS	73.0%	82.5%	63 MNOK
Kongsberg Utleie AS	5.9%	37.7%	50 MNOK
Sommerro House AS	158.7%	40.7%	100 MNOK
KLP Schweigaardsgate 21 AS	59.5%	63.3%	63 MNOK
Rebus Medinvest AS	71.8%	44.6%	66 MNOK
Østre Aker Vei 264 AS	59.0%	84.8%	65 MNOK
Fridtjof Eiendom AS	67.5%	9.8%	149 MNOK
Sibirius Eiendom AS	2.6%	65.0%	54 MNOK
Totalentreprenør Lothe AS	6.6%	25.2%	131 MNOK
Tandberg Eiendom Avdeling Sentrumsgården Heggedal AS	34.2%	9.5%	99 MNOK
Sandsliåsen Utbygging AS	15.9%	8.7%	326 MNOK
Midgard Trysil AS	11.9%	40.3%	79 MNOK
Top Invest AS	10.3%	18.5%	193 MNOK
Lars Jønsson Bolig AS	2.9%	28.2%	134 MNOK
Rosenlund Kontorbygg AS	48.0%	92.7%	50 MNOK
Firda Eiendom AS	8.8%	31.5%	217 MNOK
Kverneland Bolig AS	32.1%	39.1%	63 MNOK
Scala Trekanten AS	−84.1%	94.6%	83 MNOK
Eiendomsmegler 1 Østfold Akershus AS	2.7%	61.9%	85 MNOK
Steinan Holding AS	15.1%	7.1%	260 MNOK
Realkapital Eiendom AS	3.7%	68.8%	58 MNOK
KLP Schweigaardsgate 17-19 AS	57.5%	70.0%	69 MNOK
Sjølystparken AS	76.2%	30.5%	106 MNOK
Hagegata 22-24 AS	62.0%	44.4%	69 MNOK
Øvre Romerike Boligutvikling AS	2.7%	34.8%	115 MNOK
Tullinkvartalet AS	50.5%	75.8%	107 MNOK
Granitt Entreprenør AS	7.7%	23.7%	53 MNOK
Kvadrat Utvikling AS	71.1%	61.9%	186 MNOK
Veum Hageby AS	9.9%	26.5%	61 MNOK
Københavngata 10 AS	39.2%	19.6%	71 MNOK
Innova Eiendom AS	5.2%	20.1%	62 MNOK
Tordenskiolds Gate 12 AS	56.8%	23.9%	56 MNOK
Wenaas Airport Hotel Gardermoen AS	63.3%	24.1%	82 MNOK
Eiendomsmegler 1 Nord-Norge AS	12.4%	22.1%	220 MNOK
Boligutvikling Korshagen AS	13.1%	15.0%	73 MNOK
Eiendomsmegler Norge AS	7.6%	34.1%	293 MNOK
Bonntjennsvegen 12-14 AS	71.9%	38.7%	54 MNOK
Krona Eiendom AS	84.1%	28.8%	71 MNOK
Heidrun Boliger AS	11.8%	20.5%	105 MNOK
Asker HQ Invest AS	68.8%	23.6%	53 MNOK
Farmandstredet Eiendom AS	61.3%	66.2%	163 MNOK
Bne Holmestrand Bolig AS	7.5%	13.0%	180 MNOK
Tunveien Eiendom AS	8.4%	28.8%	299 MNOK
Aamodt Hus AS	12.9%	21.3%	201 MNOK
Forskningsveien II AS	66.2%	22.4%	63 MNOK
Terminalbygget Aker Brygge AS	60.8%	59.0%	124 MNOK
Wigen Bolig AS	9.6%	13.3%	318 MNOK
Nordic Apartrent AS	5.5%	18.5%	73 MNOK
AS TROMSØ AUTOMOBILCOMPANI - AS TACO	50.7%	40.8%	117 MNOK
Randesund Hageby 5 AS	14.4%	4.5%	212 MNOK
CC Eiendom AS	56.9%	33.1%	117 MNOK
Strandveien 20 AS	66.0%	20.7%	53 MNOK
Vestby Senterutvikling AS	31.9%	93.2%	52 MNOK
Tema Eiendom AS	53.8%	21.5%	174 MNOK
Angarde AS	38.4%	19.6%	59 MNOK
KLP Munkedamsveien 35 AS	69.8%	31.5%	57 MNOK
Leangenbukta AS	18.3%	17.4%	240 MNOK
Kyllo Eiendom AS	1.4%	80.5%	76 MNOK
Mostein Boligutvikling AS	1.4%	48.1%	60 MNOK
Bilbygg AS	75.7%	16.6%	55 MNOK
Frabene AS	15.2%	19.3%	178 MNOK
Remiks Miljøpark AS	13.5%	35.8%	86 MNOK
Telegrafen Oslo AS	49.7%	78.8%	83 MNOK
The Hub Holding AS	58.2%	28.6%	206 MNOK
Avantor Nydalsveien 33 AS	94.6%	40.3%	60 MNOK
Sponeåsen Eiendom AS	0.1%	41.5%	66 MNOK
First Floor AS	10.1%	1.7%	104 MNOK
Merinokvartalet AS	26.8%	12.1%	318 MNOK
P33 Eiendomsmegling AS	23.9%	4.7%	84 MNOK
Glomar Eiendom AS	2.7%	17.8%	127 MNOK
Barcode 115 AS	41.5%	10.0%	74 MNOK
Caiano Eiendom AS	57.1%	33.8%	114 MNOK
M3 Boliger AS	12.5%	3.4%	118 MNOK
AS CONTINENTALKOMPLEKSET	52.4%	18.9%	73 MNOK
Harald Kværner Eiendom AS	53.8%	12.1%	133 MNOK
Austrått Utvikling AS	4.1%	11.0%	69 MNOK
Tindlund Park AS	11.6%	23.0%	66 MNOK
Søren Nielsen AS	65.0%	10.0%	70 MNOK
Hoff Handel AS	58.5%	5.1%	101 MNOK
A9 Palekaia AS	61.8%	2.0%	153 MNOK
Allstad AS	−47.0%	74.9%	66 MNOK
Drengsrudbekken Eiendom AS	57.3%	12.4%	69 MNOK
Oslo Kongressenter Folkets Hus AS	14.4%	38.4%	118 MNOK
Gulskogen Senter AS	67.6%	48.8%	163 MNOK
Storebrand Hoffsveien 1A-1E AS	50.4%	58.5%	109 MNOK
Kamperhaug Boligutvikling AS	3.1%	32.8%	133 MNOK
Helsehuset 1 AS	65.5%	21.9%	54 MNOK
Oslo Entreprenørbedrift AS	1.9%	20.9%	193 MNOK
Verkstedhallene AS	32.3%	72.6%	117 MNOK
Peter Møllers Vei 8-14 AS	25.7%	20.4%	437 MNOK
Frogner Prosjektutvikling AS	17.8%	11.5%	85 MNOK
Mestergruppen Tomteutvikling AS	13.6%	4.4%	85 MNOK
Kirkeveien 213 AS	11.6%	4.5%	121 MNOK
Sandviksboder 78 AS	14.2%	6.8%	122 MNOK
Kongsberg Teknologipark AS	10.2%	31.9%	296 MNOK
Moerveien AS	13.0%	2.3%	80 MNOK
Heimdal Eiendomsmegling AS	3.0%	21.3%	145 MNOK
Miklagard Properties AS	34.2%	27.7%	63 MNOK
Sæter Terrasse AS	0.9%	31.8%	112 MNOK
Heimstaden Bostad Invest 10 AS	53.7%	41.0%	347 MNOK
Steinan Nedre Utbygging AS	14.0%	24.9%	62 MNOK
Ranheim Vestre AS	3.6%	26.3%	238 MNOK
KLP Eiendom Oslo AS	0.8%	29.4%	217 MNOK
Vestbase Eiendom AS	8.9%	41.5%	285 MNOK
Øvre Kleppevegen AS	−39.9%	79.9%	68 MNOK
Majorstuen Eiendomsmegling AS	8.7%	5.9%	55 MNOK
Storebrand Lysaker Torg 5-25 AS	25.0%	45.9%	89 MNOK
Newsec Property Asset Management AS	0.9%	23.6%	290 MNOK
Granmo Bolig AS	1.5%	13.6%	75 MNOK
KLP Citypassagen AS	71.6%	2.5%	56 MNOK
Aspelin Reitan Eiendom AS	−59.4%	58.8%	66 MNOK
Lovisenberg Eiendomstjenester AS	−3.3%	53.1%	158 MNOK
Overvik T1 AS	10.4%	15.8%	112 MNOK
Cmnre S6 AS	57.9%	20.3%	63 MNOK
Frier Vest Asdal AS	−1.8%	20.3%	73 MNOK
Vinyasa AS	0.3%	49.8%	95 MNOK
Asset Buyout Partners AS	−2.4%	23.0%	84 MNOK
Alti Forvaltning AS	16.3%	3.9%	164 MNOK
Peab Bolig Borgundfjorden AS	12.0%	12.7%	102 MNOK
Vestenfjeldske Eiendom AS	23.5%	19.1%	63 MNOK
Oslo Sentrumsholding AS	49.5%	21.0%	57 MNOK
Sporveien Bussanlegg AS	24.9%	15.3%	234 MNOK
Sjøfartsbygningen Eiendoms-Og Investment AS	60.8%	1.2%	62 MNOK
Sartor Storsenter AS	50.0%	33.9%	195 MNOK
Kanalbyen Eiendom AS	7.0%	16.1%	374 MNOK
Agder Bolig AS	7.1%	14.7%	157 MNOK
YC Eiendom AS	24.9%	38.5%	56 MNOK
MALLING & CO Forvaltning AS	5.0%	10.7%	215 MNOK
GC Rieber Eiendom Pluss AS	−0.7%	38.8%	53 MNOK
Fløylia AS	4.2%	22.5%	238 MNOK
Eiksmarka Utvikling AS	7.0%	4.8%	144 MNOK
Cathinka Guldbergs Sykehus AS	73.8%	1.2%	128 MNOK
Vervet AS	19.0%	20.7%	275 MNOK
Holbergs Terrasse AS	44.4%	0.5%	61 MNOK
Norway Business Centre NO 18 AS	10.9%	0.7%	53 MNOK
Vestre Svanholmen 24 AS	60.0%	10.7%	53 MNOK
Kjonebråten Utvikling AS	8.3%	1.8%	475 MNOK
Onelog Næringspark 1 AS	34.4%	−4.4%	53 MNOK
Gardermoen Logistikksenter AS	34.3%	13.1%	53 MNOK
Ullevålsveien 114 AS	31.6%	0.0%	238 MNOK
WALDEMAR THRANES GATE 84 B, 86 og 98 AS	47.4%	9.6%	63 MNOK
Norsk Boligutvikling AS	21.2%	3.9%	246 MNOK
Lerum Brygge AS	7.7%	11.9%	78 MNOK
Cbre AS	3.3%	18.4%	186 MNOK
Skogmo Eiendom AS	6.1%	4.9%	135 MNOK
Petra Eiendom AS	3.7%	6.5%	51 MNOK
Nordiqus Fredrikstad Stadion 2 AS	52.8%	4.6%	53 MNOK
Freserveien 1 AS	−17.0%	11.0%	54 MNOK
Opphus AS	7.4%	6.0%	115 MNOK
Nec AS	0.7%	2.1%	69 MNOK
Mesterhus Oslo Bygg AS	−22.6%	6.5%	53 MNOK
Solsiden Eiendom Utvikling AS	1.9%	3.0%	70 MNOK
Omnibo Vest AS	3.7%	14.6%	91 MNOK
Tangvall Arena Bolig AS	21.6%	7.4%	54 MNOK
Nordre Jarlsberg Brygge AS	0.7%	30.2%	52 MNOK
Slemmestad Boligutvikling AS	8.4%	7.1%	52 MNOK
Fager Eiendom AS	2.5%	4.9%	55 MNOK
Trondheim Spektrum Eiendom AS	16.0%	3.3%	51 MNOK
Fagerborg K34 i AS	1.8%	2.9%	75 MNOK
Borg Forvaltning AS	−3.8%	16.2%	93 MNOK
Thomas Framnes Holding AS	0.8%	29.9%	121 MNOK
Tobb Fosslia AS	−22.8%	−5.9%	59 MNOK
NG Eiendomsdrift AS	6.1%	0.4%	79 MNOK
Vender AS	4.1%	0.1%	364 MNOK
Ankerveien 90 AS	2.0%	−6.1%	85 MNOK
Gardermoen Logistikkbygg AS	38.1%	−0.1%	137 MNOK
Entra ASA	−94.6%	12.9%	204 MNOK
Lfa Mjøndalen AS	14.1%	0.0%	131 MNOK
Scala Drift AS	−0.6%	6.1%	56 MNOK
Husebyenga Terrasse AS	−0.5%	−2.7%	70 MNOK
Borg Drift AS	0.1%	1.5%	51 MNOK
Lørenfaret Eiendom II AS	−8.6%	8.1%	143 MNOK
Langenga Bolig AS	1.5%	9.5%	135 MNOK
Victoria India Fund AS	−203.1%	−3.5%	118 MNOK
Mittegetlokale AS	−7.1%	5.8%	107 MNOK
Herøya Industripark AS	−3.2%	13.5%	127 MNOK
Peab Utbygging AS	−35.3%	10.0%	124 MNOK
Vinderen Utvikling AS	−13.4%	2.9%	59 MNOK
Vennatrø Eiendomsdrift AS	0.1%	4.0%	50 MNOK
Hagejordet Utvikling AS	4.1%	2.9%	52 MNOK
Cora Invest AS	2.7%	2.4%	77 MNOK
Bjølstad Utvikling AS	−5.2%	5.9%	54 MNOK
Urban Partners AS	−6.4%	11.8%	60 MNOK
Mustad Eiendomsdrift AS	−3.6%	1.5%	184 MNOK
F1 Utvikling AS	−1.6%	−21.5%	57 MNOK

Holding and investment companies · 2024

2,257 companies in the sector are holding or investment companies. They are kept out of the ranking above, since revenue, margins and growth say little about a company that lives from ownership. They are ranked on their own here: 974 have at least 10 MNOK in assets and are listed.

Holding and investment companies
Rank	Company	Score	Equity ratio	Return on assets	Current ratio	Total assets
1	Terje Kjeldsen Holding AS	99	100.0%	114.0%	–	11 MNOK
2	Ancas Invest AS	97	100.0%	103.9%	–	12 MNOK
3	Boppus Invest AS	97	100.0%	52.3%	16,164.19	30 MNOK
4	Corrente Holding AS	95	100.0%	39.0%	–	23 MNOK
5	Barrock Invest AS	95	99.9%	79.6%	717.69	18 MNOK
6	Mda Holding AS	94	100.0%	34.2%	5,615.88	16 MNOK
7	Mno Holding AS	94	99.9%	60.9%	–	33 MNOK
8	Hwa Holding AS	93	100.0%	30.8%	–	15 MNOK
9	Kwa Holding AS	92	100.0%	27.0%	–	23 MNOK
10	Superson Invest AS	92	100.0%	25.3%	1,637.71	11 MNOK
11	Nacapa Invest AS	91	100.0%	25.1%	–	18 MNOK
12	Hallgeir Haga Invest AS	91	99.7%	49.5%	249.80	15 MNOK
13	Trondheim Kontorutvikling Holding AS	91	99.8%	57.1%	118.31	21 MNOK
14	Borneskjeret Holding AS	91	99.7%	43.9%	381.36	38 MNOK
15	KL Holding AS	91	99.8%	40.6%	199.38	11 MNOK
16	Tore Stai Holding AS	91	99.9%	26.9%	942.96	12 MNOK
17	Arnold Holding AS	90	99.5%	56.5%	210.44	12 MNOK
18	Tor-Erik Johnsen Invest AS	90	100.0%	20.9%	2,494.57	17 MNOK
19	CG Holding AS	90	100.0%	19.1%	5,341.62	19 MNOK
20	ANDERS O. Wang Holding AS	89	99.6%	78.4%	102.25	25 MNOK

Show all 100

Rank	Company	Score	Total assets
21	Aqp Holding AS	89	168 MNOK
22	Svejk Invest AS	89	14 MNOK
23	Strøm Sivertsen Holding AS	89	16 MNOK
24	Rønning Indrelid Holding AS	89	126 MNOK
25	AR Kapital AS	89	38 MNOK
26	Alpen Holding AS	89	79 MNOK
27	Nedre Lobben Holding AS	88	19 MNOK
28	Breverud Holding AS	88	22 MNOK
29	Zimmer Holding AS	88	15 MNOK
30	Ivar Weider Moen Holding AS	88	36 MNOK
31	Skarpen Invest AS	88	14 MNOK
32	Oliven Holding AS	88	15 MNOK
33	Jem Holding AS	88	49 MNOK
34	Gry Ansgar Invest AS	87	19 MNOK
35	Gex Capital AS	87	15 MNOK
36	Gom Invest AS	87	14 MNOK
37	Kramer Holding AS	87	14 MNOK
38	Chapel Hill Invest AS	86	43 MNOK
39	Bhl Holding AS	86	17 MNOK
40	Emerald Invest AS	86	96 MNOK
41	Kma Invest AS	86	39 MNOK
42	DS Invest 2024 AS	86	134 MNOK
43	O.S Holding AS	85	12 MNOK
44	Espen Strøm Holding AS	85	22 MNOK
45	Aksel Valen Holding AS	85	93 MNOK
46	Jobsen Invest AS	85	38 MNOK
47	Superknut Invest AS	85	11 MNOK
48	Gjerdalen Invest AS	85	12 MNOK
49	Evensen Maritime Invest AS	84	42 MNOK
50	Jabetza Invest AS	84	23 MNOK
51	Milliways Invest AS	84	11 MNOK
52	Jusoje Invest AS	84	17 MNOK
53	Goo Invest AS	84	13 MNOK
54	Bur Holding AS	84	115 MNOK
55	Vjuv Invest AS	84	11 MNOK
56	Birkeland Invest AS	84	12 MNOK
57	Elstad Invest AS	84	11 MNOK
58	Kcuv Invest AS	83	11 MNOK
59	Mikkmatt Invest AS	83	34 MNOK
60	Kveil Invest AS	83	30 MNOK
61	27 Capital AS	83	11 MNOK
62	Lonø Holding AS	83	334 MNOK
63	Longvagruppen Holding AS	83	93 MNOK
64	Tikea Invest AS	83	13 MNOK
65	Jkt Birkeland Invest AS	82	357 MNOK
66	Titt Inn Holding AS	82	28 MNOK
67	Ultor Invest AS	82	11 MNOK
68	Bøffel Holding AS	82	69 MNOK
69	Rognag Holding AS	82	13 MNOK
70	Anderich Invest AS	82	30 MNOK
71	Cah Invest AS	82	11 MNOK
72	Eianor Invest AS	82	13 MNOK
73	AE Bulk Co-Invest AS	82	41 MNOK
74	Angur Invest AS	81	56 MNOK
75	F600 Invest AS	81	40 MNOK
76	Ibj Invest AS	81	12 MNOK
77	Belsvik Holding AS	81	86 MNOK
78	Nina Ryen Holding AS	81	30 MNOK
79	Komet Invest AS	81	12 MNOK
80	Wolden Holding AS	81	13 MNOK
81	Steve Holding AS	80	11 MNOK
82	Khk Holding AS	80	18 MNOK
83	MU Investering AS	80	22 MNOK
84	Wico Invest AS	80	24 MNOK
85	Erik Lund Invest AS	80	60 MNOK
86	Oxaal Holding AS	80	59 MNOK
87	AJ Stangeland Holding AS	80	534 MNOK
88	Dag Invest AS	80	21 MNOK
89	Sanna Fjeldvær Holding AS	79	38 MNOK
90	Petrus Holding AS	79	72 MNOK
91	Habbestad Holding AS	79	18 MNOK
92	Kjærevik Holding AS	79	18 MNOK
93	Sniptind Invest AS	78	428 MNOK
94	G1 Holding AS	78	23 MNOK
95	Hein Holding AS	77	122 MNOK
96	Stavne og Stjern Holding AS	77	18 MNOK
97	Urskjell Invest AS	77	12 MNOK
98	Igesund Invest AS	77	19 MNOK
99	Ose Holding AS	77	14 MNOK
100	Idab Invest AS	76	18 MNOK

Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology

Scenario analysis: the sector's weakest year

The sector's weakest year was 2022, with a median operating margin of 31.1%.

Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal year	Median operating margin	Median equity ratio
2018	–	–
2019	–	–
2020	–	–
2021	–	–
2022 · weakest year	31.1%	10.4%
2023	44.8%	26.7%
2024	45.7%	26.4%
2025	46.8%	27.3%
2026	58.6%	40.2%

In 2022, 24 ranked companies did better than the sector, 18 about the same and 18 weaker.

Held up best in 2022

1HJ Eiendom ASequity ratio 40.8%97.2%
2Viken Boligeiendom ASequity ratio 10.0%94.0%
3Gjønnesjordet 10 ASequity ratio 0.5%88.9%
4Rambolt Eiendom ASequity ratio 74.1%81.8%
5Herock ASequity ratio 89.0%79.7%
6Huitfeldts Gate 15 ASequity ratio 6.3%77.3%
7Gullregnbukta ASequity ratio 4.9%71.5%
8Haakon Knudstad ASequity ratio 71.6%70.8%
9Inventec ASequity ratio 56.2%70.1%
10Marinella Eiendom ASequity ratio 44.8%70.1%

Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology

Drivers in the sector

Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.

Policy rate (prosent)

Latest value: 4.30 (2026-09)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 1.1 percentage points.

Policy rate per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Policy rate, annual average	0.08	1.32	3.54	4.50	4.30	4.14 (so far)
Change from the year before	−0.28 percentage points	+1.24 percentage points	+2.22 percentage points	+0.96 percentage points	−0.20 percentage points	−0.16 percentage points
Sector's median operating margin	–	31.1%	44.8%	45.7%	46.8%	58.6%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 1 November 2026

Construction cost index for dwellings (indeks (2015 = 100))

Latest value: 160.3 (2026M09)

Construction cost index for dwellings rose 4.3% in 2025; the sector's median operating margin rose 1.1 percentage points.

Construction cost index for dwellings per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Construction cost index for dwellings, annual average	124.2	135.1	141.1	146.4	152.7	158.4 (so far)
Change from the year before	+8.7%	+8.8%	+4.4%	+3.7%	+4.3%	+3.7%
Sector's median operating margin	–	31.1%	44.8%	45.7%	46.8%	58.6%

Source: SSB (08651, CC BY 4.0). Source · fetched 1 November 2026

Consumer price index (indeks (2025 = 100))

Latest value: 104.0 (2026M09)

Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 1.1 percentage points.

Consumer price index per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Consumer price index, annual average	84.3	89.2	94.1	97.0	100.0	102.9 (so far)
Change from the year before	+3.5%	+5.8%	+5.5%	+3.2%	+3.0%	+2.9%
Sector's median operating margin	–	31.1%	44.8%	45.7%	46.8%	58.6%

Source: SSB (14710, CC BY 4.0). Source · fetched 1 November 2026

When policy rate fell in 2025, 3,809 of 6,896 ranked companies kept their operating margin at or above the year before. Among the largest: DNB Eiendom AS (−1.5% → 2.9%), Ferncliff Tih AS (−717.9% → 99.2%), Ferncliff Holding AS (78.3% → 99.8%), OBOS Nye Hjem AS (−0.8% → −0.7%), Eiendomsmegler 1 Sør-Norge AS (5.3% → 7.1%).

We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.

The sector in Norway (SSB)

The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.

Enterprises, employment and turnover · 2024

Enterprises: 60,965; +4.0% from 2023
Persons employed: 31,172; −0.2% from 2023
Turnover: NOK 240.4 bn; +8.0% from 2023
Gross operating margin: 50.2%; Gross operating surplus divided by turnover

All enterprises, sole proprietorships included.

Bankruptcies in the industry

217 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −8.8% against the four quarters before (238). That is about 3.6 per 1,000 enterprises.

Foreign-controlled enterprises · 2024

Share of enterprises: 2.5%
Share of persons employed: 6.0%
Share of turnover: 8.6%

SSB publishes this for groups of industries only. The figures are for the group “Omsetning og drift av fast eiendom”.

Source: Statistics Norway (SSB), table 12910, table 10790, table 08085. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.

Latest bankruptcies and liquidations

Bash Eiendom AS 928846342 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
Brande Eiendom AS 925893811 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
Brande Holding AS 928469220 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
Bygnes Bt1 S10 AS 936304664 Voluntary liquidation · 31 October 2026
Cecilie Løvøs Veg 2 AS 813648962 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
Datterselskapet AS 988944041 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
Eiby AS 827032522 Voluntary liquidation · 31 October 2026
Eidettoppen Eiendom AS 928086127 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)

All bankruptcies and liquidations in the sector

Industry codes (NACE)

Code	Description
68*	Hele hovedgruppe 68
68.110	Kjøp og salg av egen fast eiendom
68.120	Utvikling og salg av byggeprosjekter
68.200	Utleie av egen eller leid fast eiendom
68.310	Eiendomsmegling og andre formidlingstjenester for eiendom
68.320	Eiendomsforvaltning på oppdrag