AF Gruppen

Regulatory Filings • Nov 1, 2024

Building 96 new apartments in Bergen city center

Building 96 new apartments in Bergen city center

LAB Entreprenør AS, a company within AF Gruppen, has signed a contract with Nøstegaten 72-74 AS (OBOS Nye Hjem) for the construction of a new apartment project at Nøstet in Bergen city center. The contract is a turnkey contract valued at approximately NOK 428 million excluding VAT.

The buildings are located along the waterfront at Nøstet, very centrally in Bergen city center. The project includes the construction three apartment buildings with an underlying garage. The establishment of outdoor areas and a new quay promenade is also included in the agreement. Additionally, a new kindergarten is planned in one of the buildings. The project aims to transform the historic district from a rundown industrial area into an attractive area with squares, playgrounds, and a new public quay promenade designed to increase access to the sea for the city’s residents. The site is currently undergoing the dismantling of existing buildings for reuse and recycling under a separate contract with Nøstegaten 72-74 AS.

The project is scheduled to start in the first quarter of 2025 and be completed in the third quarter of 2027.

The start of the project is conditional on sufficient pre-sales.

For further details, please contact:

CEO of LAB Entreprenør AS: Gard Kvalheim, tel. +47 907 54 394

EVP Building, AF Gruppen: Tormod Solberg, tel. +47 950 59 495