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Selvaag - A multifaceted home building company

Can a large privately owned company really have "improving the people's quality of life" as its primary objective?

- Yes, it is possible, and at Selvaag we feel that we are proving it. Through our entire 60-year existence we have consciously relied on a pioneering spirit, and innovation for the benefit of ordinary people.

This effort has been a common thread; from the days we made a significant contribution to tripling the construction of homes in post-war Norway, to one of our current targets - reducing building costs by 30 percent to enable young people to get a foot on the property ladder.

We have also proven that it is profitable to show social responsibility. So for us there is no reason to have any other objective. If we help to make people's lives better, we create a legacy that is greater than ourselves and our products.

 

A multifaceted home building company

In 60 years Selvaag has built over 50,000 residences in Greater Oslo and home building will continue to be a central part of what we do. But we also have operations in a range of housing related businesses through subsidiary companies in Norway, the USA, and many European countries. These subsidiary interests include the property rental market, joint property services, car sharing, parking, mini-warehousing, property investment, and development of IT tools for industrial housing construction.

 

No matter what the business, the enterprises of the Selvaag group and its subsidiaries are founded on the same values: high ethical standards, value creation for society and a drive for long-term and pioneering efforts. Therefore, our main task is to "substantially improve the quality of life of ordinary people - through skill and innovation", building on the sustainable management of ecological resources.

 

Sound economic foundation
Our philosophy has laid the groundwork for high value creation and therefore good, long-term earnings. Today the Selvaag Group has recorded total assets of about NOK 4.5 billion, and adjusted shareholders equity of 45 percent. Post-tax returns in recent years have been close to NOK 150 million.

 

 

The Selvaag Group is a family owned company. The Selvaag family - represented by Ole Gunnar Selvaag and his two sons Olav H. Selvaag and Gunnar Frederik Selvaag - are the owners of the Selvaag Group.