Greenland Property Company Assigned with New DKK-Billion Job

Published at: May 05 2020 - 12:06 / Updated at: May 05 2020 - 12:06

The Illuut AS real estate company in Greenland, owned by the self-rule authorities, has been tasked with facilitating the construction of new houses with a total of 500 beds in five different towns in Greenland, according to Sermitsiaq.

The investment will amount to at least DKK 1 billion, according to the company’s new chairperson Steffen Ulrich-Lynge.

Illuut AS thus takes over the role of facilitating construction and operations, which would otherwise have been allocated to the Danish Ministry of Education. Illuut AS is tasked with constructing, owning, selling, renting out and managing properties for the self-rule authorities and currently has a portfolio of some 750 public housing units.