Norway's oil fund calms investors: We will still be a major player in real estate

Norway's oil fund has moved to tone down the effect of a change in its real estate strategy. The newly-outlined plan lowers the target of real estate allocation from seven percent to 3-5 percent

73-89, Oxford Street in London is one of the real estate investments made by Norway's oil fund. | Photo: PR

A new real estate strategy for Norway's oil fund announced last week has created some upheaval and uncertainty in the real estate industry. In an attempt to calm down investors, Norges Bank Investment Management (NBIM) released a statement stressing that the fund will continue to be a major player in real estate.

"Some media have created the impression that the fund's real estate investments are being closed down. We would like to emphasize that real estate will continue to be an important part of the bank's investment strategy for the GPFG (Government Pension Fund Global), and the fund will be a major player in the real estate markets in the years to come," Egil Matsen, Deputy Governor of Norges Bank, says in the press release.

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