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New Nordic adviser outlines development plans

A new Nordic real estate adviser, Glitnir Property Holding, has ambitious plans to grow beyond the Nordic region into northern Europe.

Peter Leimdörfer, Glitnir

Peter Leimdörfer, Glitnir: Finland is an attractive market with lower prices than the other Nordics

Peter Leimdörfer, managing director of the €5 billion company, says it will build on its Swedish and Norwegian foundations.

Glitnir was formed in mid-April through the joining of Norway’s Glitnir Property Group and Swedish real estate adviser Leimdörfer.

The move comes as several international players look towards the Nordic markets as an area of, as yet, untapped property related profits.

The formation of Glitnir Property Holding is the first step in a strategy to create a leading commercial real estate advisor in the Nordic market. The new entity will be 70% owned by Glitnir Bank and will have Frank Reite as chairman.

Peter Leimdörfer confirms the expansion plans. "We have a strong presence in Sweden and Norway already and so now we are looking to go into places where we can really add value," he says. "We are particularly looking at increasing our presence in Finland as their market is experiencing huge inflows of capital as prices are still lower than in the rest of the Nordic region."

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