Danish tax authorities to rent from Icelandic investors Skip to content

Danish tax authorities to rent from Icelandic investors

Morgunbladid reports that Icelandic investors have recently purchased ISK 20-25 billion worth of real estate in Denmark. Among the prospective tenants of the Icelandic investors are the Danish tax and customs authorities.

The Icelandic company Nýsir hf. has purchased two Danish real estate companies which collectively own 61 thousand square meters of buildings in central Copenhagen. The purchase price was not disclosed.

Iceland’s first dollar billionaire, Björgólfur Thor Björgólfsson, his father Björgólfur Gudmundsson, investment bank Straumur-Burdarás and Birigir Bieldvedt have purchased a large stake in the Danish real estate company Sjælsø Gruppen. Bjorgolfur Thor serves as chairman of Straumur-Burdarás. A company owned by the same parties holds 50% of SG Nord Holding which owns 25% of Sjælsø.

Straumur-Burdarás, together with Birgir Bieldvedt and Danish investors, already operates the Danish real estate company Property Group which is said to have the capacity to invest up to ISK 50 billion annually.

Morgunbladid further reports that according to local sources, two powerful blocks of investors are forming in the Danish real estate market. One is led by Baugur and includes shares in Atlas Ejendomme, Keops, and Nordicom. The other is led by the Björgólfs and includes Sjælsø and Property Group.

Icelandic National Broadcasting Service, RÚV, quotes the Danish daily Berlingske Tidende saying that the purchases are being drive by expectations of further price increases in Danish real estate. According to RÚV, Sjælsø reported record earnings yesterday.

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