AF Gruppen

Regulatory Filings • Mar 30, 2023

To build commercial building in Larvik

To build commercial building in Larvik

Betonmast, a subsidiary of AF Gruppen, has signed a contract with Fritzøe Eiendom AS for the development and construction of a commercial building in central Larvik. The contract is a joint venture with a value of approximately NOK 239 million, excl. VAT.

The "Saga" project includes the construction of an office building with a shop, canteen and parking basement, a total of 10,000 m2 BTA. The building is centrally located in Larvik, with the railway, E18 and county road in the immediate vicinity. The project is to be certified as BREEAM-NOR Excellent according to the 6.0 manual, and will receive, among other things, green roofs, and solar panels.

The parties have developed the project together after Betonmast won the competition in February 2022.

“Once again, the employees of Betonmast Buskerud-Vestfold have shown that they possess cooperation and development skills, and an ability to create good relationships with a new and exciting local real estate player for us. We are now looking forward to embarking on this great and exciting project in the middle of Larvik”, says a proud Peter Sandrup, CEO of Betonmast.

Construction will start in April 2023 and the project will be completed by Christmas 2024.

For further details, please contact:

Peter Sandrup, CEO Betonmast, tel.: +47 915 88 645

Bård Frydenlund, EVP Sweden and Betonmast for AF Gruppen, tel.: +47 918 68 621