Veidekke

Earnings Release • Feb 27, 2023

Veidekke: Building more homes in Lille Løren Park

Veidekke: Building more homes in Lille Løren Park

Nordr and Selvaag Bolig have awarded Veidekke a new commission in the Lille

Løren Park project in eastern Oslo. Now the second stage of construction will be

built comprising 99 eco-certified apartments in two blocks with underground

parking. The contract is a design and build contract valued at around NOK 300

million excluding VAT.

"We really appreciate being able to extend the good partnership with Lille Løren

Park. We've been involved in developing the project since its inception, just as

we prefer. The fact that the homes will be eco-certified is also something we

really appreciate as executing contractor," says Head of Department Kaare Gilhus

of Veidekke Bygg Oslo.

At Løren, a new city district has emerged in an area that previously housed

industry and a military camp. When completed, Lille Løren Park will comprise 348

eco-certified apartments and a kindergarten according to the BREEAM-NOR

standard. The second construction stage consists of 47 and 52 apartments

respectively in two apartment blocks from four to eight storeys, and large

common roof terraces offer views of the city and fjord.

"There is still a great need for homes in Oslo, and we're pleased to start

construction of yet another project at Løren. Along with Veidekke, Nordr and

Selvaag Bolig have succeeded in negotiating a difficult cost climate and can

offer attractive homes with high focus on sustainability. We can see that our

customers appreciate this," says CEO Pål Aglen of Nordr Norge and deputy CEO

Øystein Klungland of Selvaag Bolig.

Construction work has already started, and occupation is scheduled for December

2024. Read more about the project

here (https://www.selvaagbolig.no/oslo/lillelorenpark/?utm_source=google&utm_medi

um=cpc&utm_campaign=oslo-lille-l%C3%B8ren

-park&gclid=Cj0KCQjw5ZSWBhCVARIsALERCvxCGl8avloCckXVlQkNo2l23mF7V

-AMw6Wx9JQp0PfH3yu41GubRCkaAs7FEALw_wcB). The commission is included in

Veidekke's order book for the fourth quarter of 2022.

For further information, please contact:

Head of Department Kaare Gilhus at Veidekke Bygg, tel. +47 45 03 01 97,

kaare.gilhus@veidekke.no

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

helge.dieset@veidekke.no

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

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Veidekke 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.