property
Oslo Approves 14,000-Square-Metre Development Adding 185 Apartments Near CBD
Oslo city planners cleared a 14,000-square-metre mixed-use scheme on Tollbugata on 7 July, adding 185 apartments and ground-floor offices within 300 metres of Karl Johans gate.
How we reported this
Oslo Kommune granted final planning consent yesterday for a 12-storey building at Tollbugata 8. The scheme replaces two 1960s office blocks and will deliver 185 homes plus 4,200 square metres of commercial space.
The decision arrives as central Oslo prices hold steady while peripheral suburbs soften. Buyers seeking walk-to-work locations now face fewer new supply options inside the inner ring road after several earlier applications were scaled back.
The site lies directly opposite the Oslo Stock Exchange and one block from the rear entrance to Oslo City Hall. It also sits inside the boundary of the municipality’s Fjordbyen waterfront programme, which requires every new project to meet the city’s 2030 zero-emission target for construction materials.
Eiendom Norge data for the second quarter of 2026 show average prices in Sentrum reached 94,200 Norwegian kroner per square metre, up 3.8 per cent on the same period last year. The approved scheme will include 45 affordable units priced at 65,000 kroner per square metre under the city’s Bolig for alle scheme.
Construction timeline and access
Demolition is scheduled for January 2027, with completion targeted for late 2029. The developer, a joint venture between OBOS and local firm Veidekke, must reserve ground-floor retail space for at least two independent Oslo businesses rather than national chains. Vehicle access will be restricted to a single ramp from Kongens gate to reduce traffic on the pedestrianised section of Tollbugata.
Next steps for interested buyers
Pre-sales open on 15 August through OBOS’s digital portal. Potential purchasers can book a viewing slot at the temporary sales office now located inside the old Deichman library building on Arne Garborgs plass. The planning documents are available on the Oslo Kommune planning portal under case number 2025-18472 until the end of this month.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.