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As of the turn of the millennium, the Fornebu area is being developed as a centre for information technology and telecom industry, as well as there being some housing project developments nearby. The new headquarters of Norway's telecom giant Telenor are located in the area.
The peninsula is connected to Langodden and Snarøya , which are more established areas of private residencies. After Oslo Airport Fornebu closed down, the area has become quite attractive.