Objective

Realdania Byg

As a subsidiary of the Realdania Foundation the primary objective of Realdania Byg is to accumulate a portfolio of historic and modern buildings, in keeping with the Foundation's strategy of improving the built environment. Secondly, the company represents a centre of excellence for the Realdania Foundation in the fields of property portfolio management and building conservation technology.

The property portfolio should in time constitute a balanced collection of important examples of Danish architectural tradition and style, with a broad geographic distribution throughout every region of Denmark. The portfolio may also include properties that have particular cultural or historical significance.

The properties owned by Realdania Byg must constitute part of the Danish cultural heritage in the broadest sense: The portfolio will therefore cover a whole range from historical listed buildings to newly built properties, with significant architectural, cultural or historical values in common.

Realdania Byg acquires properties to ensure that qualities, which might otherwise be lost or never realized, are passed on for future generations. As a rule Realdania Byg only acquires a property when the company's engagement will make a difference with respect to what the market is able to sustain. Prospective historical properties will thus often be under threat from irreversible decay or from irreversible changes, or will be in a state where it makes sense to try to call forth some or all of their original features.

Realdania Byg's engagement in new construction is restricted to cases where the proposed new building cannot be built on market terms, for reasons of economy or traditional constraints. New buildings in the portfolio must therefore be of a significant experimental character with respect to architecture, technology, or location.

The fundamental criterion for the acquisition of a given property is that it can be put to a use that will generate sufficient profits to cover revenue expenditure and all future maintenance costs, as a way of guaranteeing its long-term conservation.

Public awareness of and access to the properties in the portfolio is crucial to the company's policy. Therefore all properties are to some extent accessible to the public, either on special occasions (open house arrangements) or on a daily basis, depending on the character of the property. The public awareness policy also includes the publishing of various publications about the conservation and history of each building.

Realdania Byg A/S invests annually between one and two hundred million DKK.

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