Information in English: Allstad
Allstad is a state-owned enterprise with historical roots going back to the Middle Ages and the presence of the Roman Catholic Church in Norway. The majority of our assets are in real property and financial assets.
Sustainable administration in accordance with church values
The aim of Allstad is to create sustainable financial results and deliver the financial outcome for our owner the state. Our management of property and securities is obliged to take ethical, cultural heritage and environmental considerations into account, and also commercially sound.
About Allstad
Allstad owns 262 vicarages, including bishop's residences. 84 of these homes are listed cultural monuments. The total area of the buildings, including garages etc., is approximately 197,000 square metres.
Tenements, Agriculture and Cultural heritage properties
At the end of 2023, Allstad had approximately 5,900 tenancies, of which nearly 4,200 are rented out for residential and leisure purposes. Allstad has a total of 132 farm leases. The 20 farms are kept primarily because of their cultural and historical significance. The company's long history and foundation has resulted in an extensive portfolio of cultural heritage properties. Allstad's strategy is to maintain this portfolio.
The company's long history and foundations have resulted in an extensive portfolio of cultural heritage. Allstad's strategy is to maintain this portfolio.
Forestry
Allstad owns 877,000 hectares of forest and uncultivated land. Around 58% (506,000 hectares) is managed as commercial forestry. 100,000 m3 of timber has been felled during 2020, 6% less than the previous year. Rejuvenation through growth and replanting of the forest amounted to approximately 210,000 m3 in 2023. Total forestry income was NOK 69 million in 2023.
Real property and estate development
Allstad works with a significant portfolio of property development opportunities and property developments. The main purpose of property development is to regulate the plots before they are sold. Some larger areas, in areas of high value, are to be developed and retained with the aim of further increasing the fund's annual operational cash flow.
Small hydropower plants (HEP).
Small hydropower is a business area that utilizes Allstad's water fall rights. The business area is organized in its own subsidiary; Clemens Kraft. The business area is organized in a joint venture company; Clemens Kraft Holding AS. At the end of 2023, Clemens Kraft Holding AS has part ownership in 52 operational power plants. Clemens Kraft is a leading player in this field in Norway.
Solar energy
Allstad and Hydro Rein are equal partners in the joint venture company Geisli Energi with plans to build industrial-scale, land-based solar power plants on Allstad properties. The company was launched in 2023 and the projects are now in the design and license application phase.