We aim to create better solutions for underserved societal needs
Our main goal is to provide real estate that allows more people more fulfilling ways of living – this is embedded in the core nature of NREP’s main real estate products as well as our holistic long-term approach to urban development.
NREP’s main SOCIAL strategies
|Affordable student community-living||Flexible affordable serviced living||Multi-family rental||Mixed-generation community living||Care homes|
|CHALLENGE||Students struggle to find access to affordable well-located student housing in all the Nordic capitals and main university cities||Young people in the Nordic capital cities are struggling to find affordable and decent living conditions||The lack of suitable affordable rental in the main cities is at the core of many pressing life challenges for people at or below median income||Loneliness and isolation is a major contributor to poor health and mortality for senior people in the Nordics||Lack of access to assisted living is causing physical and mental health problems for the elderly in need|
|SOLUTION||UMEUS provides modern community-based student living at affordable prices in the Nordic capitals and university cities||Noli Studios services the growing need for flexible, socially connected yet affordable small homes in central locations||NREP’s largest business activity is focused on providing rental apartments and row-houses catering to people at or below median income||Plushusene is a semi-serviced multigenerational community-based living housing solution for active seniors and young families||Altura partners with local municipalities to address the growing yet underserved need for quality care homes|
How does NREP make a difference?
When we ask ourselves how we contribute to our impact goals, we are seeking to understand our contributions to outcomes that would not have happened otherwise.
NREP was founded in 2005 based on the observation that there was an opportunity in the Nordic real estate market to make a difference with a strategy-driven long-term approach that seeks to achieve economic values alongside value for society.
In the Nordic real estate industry, this is not business as usual. It requires us to truly look at real estate as a product in service of its users and society rather than an asset class. And it requires an organization that has different capabilities than what is required to do short-term opportunistic developments, flip assets or look at real estate as a fixed-income substitute.
Identifying underserved systemic challenges and providing real estate addressing those challenges
To identify what challenges to address and to do it better, we need to ask the bigger questions, challenge status quo and do more research than others. We need to understand the underlying trends shaping our future. Find the problems people need help solving, sometimes before they even know it themselves. Methodical research and analysis to understand those strategic drivers and opportunities has been in the DNA of our team and business since inception.
R&D to introduce better solutions to the market and build better capabilities
By taking a long term and focused approach to our segments we can invest in the R&D, capabilities and value-chain partnerships required to create a better value proposition through design, service and production processes. Some of it is complex, but a large portion is simply about understanding what really matters to people and giving them that while avoiding wasting space and resources on things that do not matter to them. And when less is more, it is not only more affordable but also often more environmentally sustainable.
Put in the hard work and operational excellence required to create outcomes that otherwise would not have happened
A great solution is not much without the right execution. We are convinced that operational excellence is key, and our focus allows us to develop that in a way that would otherwise not be possible. But we have also built a team that proportionately is much larger than our peers – a lot of what we do is to roll up our sleeves in execution to manage complexity that others are not set up to manage. That’s why we love details, love being thorough and love doing it hands on. And then repeating it to refine the process and solutions to create even better outcomes.