AF Gruppen

Regulatory Filings • Apr 26, 2024

Rehabilitating and converting Augustin Hotel in Bergen

Rehabilitating and converting Augustin Hotel in Bergen

LAB Entreprenør AS, a company in AF Gruppen, has entered into an agreement with REQ for the rehabilitation and conversion of Augustin Hotel in Bergen. The contract is a turn key contract valued at approx. NOK 115 million, excluding VAT.

The hotel is located in Bergen city centre and is one of Bergen's oldest hotels. The project includes rehabilitation and conversion of the existing hotel with 142 rooms into an apartment hotel with 104 rooms, as well as revitalisation of the premises on the ground floor for a new owner and new tenant.

"We are very grateful to be selected to carry out an interesting project in Bergen city centre for REQ. This serves to further develop our expertise in protecting and revitalising the buildings in our city. Preserving rather than demolishing and building new is the greatest contribution we can make to reducing emissions in our industry," says Gard Kvalheim, CEO of LAB Entreprenør AS.

On-site construction work has started, and construction is scheduled for completion in Q4 2024.

For further details, please contact:

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

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