AF Gruppen

Regulatory Filings • Oct 28, 2024

Building a combined commercial and residential project

Building a combined commercial and residential project

LAB Entreprenør AS, a company within AF Gruppen, has signed a contract for the construction of a new combined commercial and residential project in Alver municipality. The contract is a turnkey project valued at approximately NOK 257 million excluding VAT.

The buildings are located in Knarvik in Alver municipality, about 30 kilometers north of Bergen city center. The project consists of a total of eight floors, including two floors of parking and support functions below ground level, totaling approximately 15,000 m². At ground level, several commercial areas are planned, including Coop’s grocery concept Extra, with provisions for larger deliveries. The 71 apartments are distributed across two buildings with four and five floors respectively above the commercial section. In front of the residential buildings, an outdoor area for play and leisure is planned. The developer is Kvassnesvegen Utvikling AS, which is owned 50/50 by Vestbo Eiendomsutvikling AS and Coop Hordaland Eiendom AS.

Preparatory work, including the demolition of existing buildings on the site, has begun. Further work is contingent on sufficient pre-sales.

The project is scheduled for completion in the second quarter of 2027.

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