Veidekke

Earnings Release • Jan 12, 2024

Veidekke: New residential commission in Stavanger

Veidekke: New residential commission in Stavanger

Veidekke has been commissioned by Selvaag Bolig ASA to build the residential

project Kanaltunet at Lervig Brygge in Stavanger. The project consists of 91

apartments in three buildings and parking facilities. The contract is a design

and build contract valued at NOK 276 million, excluding VAT.

"We are very happy to have won the competition for this commission and to have

gained renewed trust from a good customer in Selvaag Bolig. This is a very

attractive project with high qualities and the extension of a popular area in

Lervig. It is therefore understandable that there is great interest in the

project and that sales have gone so well in a somewhat demanding market. We have

extensive and good experience with this type of project, so this is a good match

with our portfolio and gives us good continuity in our focus on apartment

housing," says district manager Bendik Aarstad with Veidekke Bygg Rogaland.

The three apartment buildings will have six floors and the apartments vary in

size from 46 to 103 m[2]. There will be underground parking in the basement,

which will also contain storage rooms and technical rooms. Between and around

the buildings, high-quality outdoor areas and a promenade along the sea will be

developed.

"The contractor has been selected, and we are now initiating the process of

planning and starting construction. At Selvaag Bolig we are pleased to get going

with the project along with Veidekke. We're looking forward to further

developing the great neighborhood and extending the promenade and outdoor areas.

Selvaag Bolig is pleased with the start of sales and the positive response in

the market. Our goal is occupation by the end of 2025," says Christian Flølo

Geithus, regional manager with Selvaag Bolig.

This contract is included in Veidekke's order book for the first quarter 2024.

Read more about the project here (https://www.selvaagbolig.no/rogaland/lervig

-brygge/kanaltunet/).

For further information, please contact:

Bendik Aarstad, district manager with Veidekke Bygg Rogaland, tel. +47 911 93

701, bendik.aarstad@veidekke.no (are.westbye@veidekke.no)

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

helge.dieset@veidekke.no

Christian Flølo Geithus, regional manager with Selvaag Bolig, tel. +47 951 39

268, cfg@selvaagbolig.no

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

-3A__publish.ne.cision.com_l_rgogvhhfc_veidekke.fotoware.cloud_fotoweb_archives_5

028-2DPressebilder-2DVeidekke&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf

-v5A_CdpgnVfiiMM&r=ovbabqGKDpqANTMEcsMzz-9gUee7B3zUc45MCxMEFGk&m=i

-n8T3KMESZQwOxqk

-nBbqrnaG4OsY3JhJihjj7WFdg&s=IDvroF98t_qnTa8RmB8ZqNNa6arSSm5M7FH2pjaZjsA&e=)

Subscribe to notices from

Veidekke (https://urldefense.proofpoint.com/v2/url?u=http

-3A__publish.ne.cision.com_l_rgogvhhfc_veidekke.com_no_borsmeldinger_abonner

-2Dpa-2Dmeldinger&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf

-v5A_CdpgnVfiiMM&r=ovbabqGKDpqANTMEcsMzz-9gUee7B3zUc45MCxMEFGk&m=i

-n8T3KMESZQwOxqk-nBbqrnaG4OsY3JhJihjj7WFdg&s=DLoCklEaGhEmoSc8K

-AtVjORmjflxPt6VFIyRt6vzlM&e=)

Veidekke is one of Scandinavia's biggest 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 39

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.