The new town district is located in Bjørvika-Bispevika and constitutes the largest urban development project in modern times in Norway. Oslo S Utvikling AS (OSU) is responsible for the development of about 1/3 of the area while the remaining sites developed by HAV Eiendom. OSU is owned by Linstow AS and Entra ASA with a 1/2 each. Previously, Bane NOR Eiendom AS was also a part owner, but they were bought out by the company in June 2021.
"The vision of the Bjørvika as the gates of the Norwegian capital will emerge as an expression of contemporary Norwegian suburban culture and identity in building art, technology and sustainable urban development. The new towndistrict is going to be for the joy and pride for the entire population of Oslo, and deliberately help to describe the historical development from the origin of the 21. century." (Regulatory plan of the Bjørvika-Bispevika-Lohavn adopted in Council 27.08.03)
When Bjørvika is finished the new town district will hold 5,000 homes and 20,000 workplaces. In total, there will be around 150 different spaces that will contain shopping, restaurants and culture activities. 40 per cent of Bjørvika will be buildings, 20 per cent streets and sidewalks and 40 per cent will be parks, squares and harbor promenades. In total it is likely that around 30,000 people will have an affinity to the Bjørvika - either as workplace or a home. This will be Norway's most attractive place to live, work and visit.
OSU has approximately 350,000 sqm of the total of 900,000 sqm which will be developed in Bjørvika and therefore responsible for one third of Norway's largest development project in recent times. In total, OSU will develop homes that will house about 2,000 people. The business and office spaces will generate a number of approximately 10,000 jobs in addition to many different shops, restaurants, cafes and much more.