AF Gruppen

Regulatory Filings • Feb 24, 2022

To build 178 apartments in Bergen

To build 178 apartments in Bergen

LAB Entreprenør, a subsidiary of AF Gruppen, has been proposed by Bonava to build 178 apartments with an associated parking facility and a small commercial property in Merinoparken in Breiviken north of Bergen city centre.

Parts of a former industrial building on the site is protected and will be preserved, while other parts are to be demolished, and the new structure will be adapted to the existing buildings. The total area is 23,690 m2 and the saleable gross area is 12,905 m2.

The project comprises the existing building and a new 8-storey building where the lower floors contain parking, technical rooms and commercial premises. The apartments range in size from 35 – 164 m2 with good outdoor areas and large roof terraces.

The area is a former industrial area where much residential development is currently being carried out, and is close to the Norwegian School of Economics and Business Administration.

The contract will be a turnkey contract and is valued at NOK 381 million excluding VAT.

“We’re looking forward to partnering with Bonava on this interesting project, and will do our utmost to ensure that the project is a success for everyone involved,” says Gard Kvalheim, CEO of LAB Entreprenør.

Demolition work is scheduled to start in April 2022. Building starts in Q4 2022 with completion of the project planned for the second half of 2024. Commencement is subject to sufficient advance sales.

For further information:

CEO LAB Entreprenør: Gard Kvalheim, tel. +47 907 54 394

EVP Building, AF Gruppen: Tormod Solberg, tel. +47 950 59 495

CEO, AF Gruppen: Amund Tøftum, tel. +47 920 26 712