The Oil Fund’s property department invested NOK 15 billion in unlisted real estate in 2017.
This showed a recent report on Tuesday. Towards the end of the year, Norges Bank Real Estate Management, which manages the real estate portfolio, made its first investment in Asia. Then the Fund bought a 70 percent stake in five properties in Japan’s capital Tokyo.
The Oil Fund’s investment in unlisted real estate yielded a return of 7.5 per cent last year.
Investments in unlisted real estate had a market value of NOK 219 billion and amounted to 2.6 per cent of the Fund at the end of 2017.
© NTB Scanpix / #Norway Today