Veidekke

Regulatory Filings • Jun 10, 2024

Veidekke: Billion kroner contract with Nordr in Oslo

Veidekke: Billion kroner contract with Nordr in Oslo

Nordr has chosen Veidekke as the design and build contractor for the Grønvoll

quarter at Helsfyr in Oslo. The entire construction contract with a total of 412

environmentally certified apartments will be worth close to NOK 1.3 billion

excluding VAT when everything is under way. Building the first stage is planned

to start after the summer holidays.

"This is one of the largest housing projects to be launched this year, and we

are very happy to have Veidekke with us," says Henning Wettre Hanevold, CEO of

Nordr, after Nordr and Veidekke signed the contract for the Grønnvoll

residential quarter today.

Five buildings with 412 apartments and underground parking facilities will be

built between Grenseveien and Grensesvingen near Fyrstikktorget at Helsfyr over

the next 3-4 years. 80 per cent of the first stage of 109 apartments have been

sold. The second stage is also a formidable success, with 63 out of 71

apartments quickly sold.

"We are grateful for the confidence shown in us and for yet another large

residential contract for Nordr. We particularly appreciate building fine homes

where sustainability is safeguarded as it is here, and we can see from the good

sales that Nordr and the project have matched the market needs well. We are very

much looking forward to starting construction work," says Anders W. Haugen,

Director of Veidekke Bygg Oslo.

In the courtyard between the buildings there will be a shared garden with varied

planting, several playgrounds and social zones with barbecue areas. There will

be shared roof terraces on four of the buildings with walkways between them. The

Grønvoll residential quarter will have Fyrstikktorget as its nearest neighbour

and one of the city's best public transport services.

"Our goal is to make this a living environment for the future. Through this

conversion from the previous commercial buildings to housing, we are increasing

the green area on the site from today's four per cent to a whopping 44 per cent.

A minimum of 75 per cent of the homes will comply with energy class B or better,

which will benefit residents in the form of low energy costs," concludes

Hanevold.

The contract between Veidekke and Nordr (https://www.nordr.com/no) for the

entire Grønnvoll residential quarter is for NOK 1.284 billion excluding VAT,

which will go into the order book as the various building stages are commenced.

Read more about the Grønnvoll residential quarter

here (https://www.nordr.com/no/boliger-til-salgs/gronvollkvartalet/til-salgs).

For further information, please contact:

Department Manager Kaare Gilhus, tel. +47 45 03 01 97, kaare.gilhus@veidekke.no

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

helge.dieset@veidekke.no

CEO Henning Hanevold of Nordr Norway, tel. +47 91 78 60 20,

henning.hanevold@nordr.com

Veidekke's press photos (https://urldefense.proofpoint.com/v2/url?u=https

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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.