AF Gruppen

Regulatory Filings • Dec 8, 2023

Rehabilitating and converting student housing in Bergen

Rehabilitating and converting student housing in Bergen

LAB Entreprenør AS, a company in AF Gruppen, has entered into an agreement with the Student Welfare Organisation in Western Norway for the rehabilitation and conversion of Lotheveien 2-20 in Bergen. The contract is a turnkey contract valued at approx. NOK 150 million, excluding VAT. The agreement is subject to board approval.

Lotheveien 2-20 consists of three detached brick buildings at Løvstakksiden in Bergen that are currently listed. The buildings were designed by architect Daniel Muri and built in the years 1920-1923 as municipal housing. Each of the three buildings comprise a cellar floor, two main floors and an attic floor.

The project includes the rehabilitation and conversion of existing apartment buildings with 50 apartments into student housing with 170 bedsit units.

“We are very grateful to be selected to undertake an interesting project at Løvstakksiden in Bergen for the Student Welfare Organisation in Western Norway. 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, managing director of LAB Entreprenør AS.

Construction work will commence in Q1 2024 and is scheduled for completion in Q2 2025.

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