Norwegian Property, a real estate

Real estate

In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...

 company, has a portfolio in Oslo

Oslo

Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...

, Bergen

Bergen

Bergen is the second largest city in Norway with a population of as of , . Bergen is the administrative centre of Hordaland county. Greater Bergen or Bergen Metropolitan Area as defined by Statistics Norway, has a population of as of , ....

 and Stavanger

Stavanger

Stavanger is a city and municipality in the county of Rogaland, Norway.Stavanger municipality has a population of 126,469. There are 197,852 people living in the Stavanger conurbation, making Stavanger the fourth largest city, but the third largest urban area, in Norway...

 in Norway

Norway

Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

. Created in 2006 and listed on the Oslo Stock Exchange

Oslo Stock Exchange

The Oslo Stock Exchange serves as the main market for trading in the shares of Norwegian companies. It opens at 9:00am and closes 5:30pm local time...

, it invests in major commercial real estate

Commercial property

The term commercial property refers to buildings or land intended to generate a profit, either from capital gain or rental income.-Definition:...

, offering its owners a publicly traded real estate portfolio, consisting of 762,000 square meters bought for NOK

Norwegian krone

The krone is the currency of Norway and its dependent territories. The plural form is kroner . It is subdivided into 100 øre. The ISO 4217 code is NOK, although the common local abbreviation is kr. The name translates into English as "crown"...

 19 billion.

The corporation was created in 2006 by Anders Wilhelmsen Group and Fram Management and was listed on the Oslo Stock Exchange on November 15, 2006.

Olav Line has been appointed as the new Chief Executive Officer of Norwegian Property as of January 2010.http://www.npro.no/default.asp?V_ITEM_ID=457&xml=/N/136749/PR/200909/1342499.xml Line has been the Chief Executive Officer of Steen & Strøm AS

Steen & Strøm

Steen & Strøm is a Scandinavian retail and real estate company that owns and operates 52 shopping centres in Norway, Sweden and Denmark. In 2006 the shopping centers had 3,300 lessees with total revenue of about NOK 40 billion.-History:...

 since 2003. He has 25 years of experience from the Norwegian and Nordic commercial real estate markets, inter alia through leading positions in NSB, Storebrand

Storebrand

Storebrand is a financial services company in Norway. By volume, the company's main activities are related to life insurance and pension savings. However, the company also has major divisions working on investments, banking and, since 2006, P&C insurance products...

 and Andenæs. At the same time Svein Hov Skjelle, previously chief financial officer

Chief financial officer

The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...

(CFO) of the state real estate company Entra Eiendom AS, will take the same position at Norwegian Property.