Norwegian finance minister Kristin Halvorsen has called on companies to assist the government’s EUR 224.4 bn pension fund in its first exposure to real estate. According to IPE Real Estate, the government has launched a tender for companies to report on tax issues involving investments in property and infrastructure in 32 markets outside Norway. The deadline for submissions is April 12, 2007.

Norwegian finance minister Kristin Halvorsen has called on companies to assist the government’s EUR 224.4 bn pension fund in its first exposure to real estate. According to IPE Real Estate, the government has launched a tender for companies to report on tax issues involving investments in property and infrastructure in 32 markets outside Norway. The deadline for submissions is April 12, 2007.

Markets which are being targeted include Belgium, Finland, France, Greece, Ireland, Italy, the Netherlands, Portugal, Spain, Germany, Austria, the UK, Denmark, Switzerland and Sweden.

The fund would consider both direct and indirect real estate investments. 'There has been a general trend away from direct investments involving labour-intensive internal management, towards various forms of indirect investments,’ the ministry said in a statement. Direct real estate investments are often less sophisticated than indirect ones, and aim for a large part of the return to be in the form of stable rent income.'