Veidekke

Earnings Release • Nov 6, 2023

Veidekke: More work on major project in Bjørvika

Veidekke: More work on major project in Bjørvika

After very good residential sales for Mariakvartalet in Bjørvika, Oslo S

Utvikling (OSU) has commissioned Veidekke to complete the basement of the

environmentally certified residential project. The value of the contract is NOK

116 million excluding VAT.

In Mariakvartalet, 246 apartments, a kindergarten, shops, restaurants and

cultural facilities will be built. The homes will be certified as Very Good in

accordance with the BREEAM-NOR manual. In addition, greenhouse gas emissions

will be reduced by at least 20%, the construction site will be fossil-free, and

there are strict requirements to separation at source and minimising waste. The

project was designed by Lund+Slaatto Arkitekter.

At the end of May, Veidekke was awarded the NOK 260 million commission to build

the first part of the basement, and with the new commission the basement will be

completed. In the basement floors there will be storage rooms, various common

areas and common functions in addition to parking for bicycles and cars.

"We have experienced a great deal of interest in Mariakvartalet, and have sold

more than 60 apartments in recent weeks. This sales success means that we are on

track with the project and can put the next sales stage on the market as early

as before Christmas. OSU has high demands towards both quality and sustainable

solutions, and Veidekke has shown that they understand our goals and have the

expertise to implement our ambitious plans. We're looking forward to working

closely together at Mariakvartalet," says Jostein Ådalen, Project Manager at

OSU.

Veidekke has been involved in a lot of construction in Bjørvika, including the

Opera, Munch Museum, Oslo Atrium, Diagonale and the Sørengstranda residential

project. OSU is behind many of the developments in Bjørvika, including Barcode

and the Vannkunsten residential project that won the 2021 Building of the Year

Award.

The assignement is included in Veidekke's order book for the fourth quarter. The

contract between Veidekke and OSU for the entire Mariakvartalet project is NOK

1.037 billion excluding VAT. The remainder of the contract sum will be included

in Veidekke's order book when sufficient sales for further commencement have

been achieved.

Read more about the project here (https://osu.no/prosjekter/mariakvartalet).

For further information, please contact:

Head of department Morten Barreth of Veidekke Bygg Oslo, tel. +47 93 88 37 16,

morten.barreth@veidekke.no

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

helge.dieset@veidekke.no

Project director Jostein Ådalen of OSU, tel. +47 950 48 489, ja@osu.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 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.