Veidekke

Regulatory Filings • Oct 11, 2024

Veidekke: To build Kragerø Resort FRI

Veidekke: To build Kragerø Resort FRI

Fredensborg Fritid AS has commissioned Veidekke to build the first construction

stage of 50 holiday apartments and a parking facility in connection with the

Kragerø Resort hotel. This will be a design and build contract valued at close

to NOK 200 million, excluding VAT.

"We would like to thank Fredensborg Fritid for the commission, their confidence

in us and the excellent cooperation we have had initially. Together, we have

managed to agree on good solutions within a cost level that enables

implementation while also safeguarding the environment and climate. And we will

carry out the work together with our colleagues from Veidekke Bygg Agder," says

district manager Lars N. Hjertås with Veidekke Bygg Vestfold and Telemark.

The apartments will have two to four bedrooms and an underground parking

facility. The location is close to the golf course with access to Kragerø

Resort's leisure activity offerings including a pool, spa, tennis, padel, mini

golf, kayaking and boating and bathing. There are also a number of cycling and

hiking trails close by, not to mention everything else the Kragerø archipelago

has to offer.

"In a slow holiday home market, this is a project that is going against the

flow, and we are very pleased to have Veidekke on board. Kragerø Resort Fri

homes are suitable for rental through the hotel, and the project supports jobs

and the development of activities at the destination," says CEO Håkon Semb

-Arnstorp of Fredensborg Fritid.

Construction work will start shortly with planned handover before the summer

holidays in 2026. Read more about the project

here (https://fredensborgfritid.no/destinasjoner/kragero/prosjekter/kragero

-resort-fri/til-salgs). The contract is included in Veidekke's order backlog for

Q3 2024.

For further information, please contact:

District Manager Lars Nicolas Hjertås, tel +47 92 29 71 92,

lars.hjertas@veidekke.no

Communications Manager Helge Dieset, tel. +47?90 55 33 22,

helge.dieset@veidekke.no

Communications Manager Erlend Ellingsen, Fredensborg, tel. +47 920 99 039,

erlend.ellingsen@fredensborgbolig.no

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Veidekke (http://www.veidekke.no) is one of Scandinavia's largest contractors.

In addition to undertaking all types of building and civil engineering

assignments, the group also maintains roads and produces asphalt and aggregates.

Veidekke emphasises stakeholder involvement and local experience. Annual

turnover is approx. NOK 43 billion, and almost half of its 8,000 employees own

shares in the company. Veidekke is listed on the Oslo Stock Exchange and has

posted a profit every year since its inception in 1936.