AF Gruppen

Regulatory Filings • Dec 22, 2021

Selected to construct “plus” apartments in Trondheim

Selected to construct “plus” apartments in Trondheim

Betonmast, an AF Gruppen subsidiary, has entered into a contract with Selvaag Bolig ASA and Relog AS to build 123 apartments as part of the Ringve Pluss project in the Lade neighbourhood in Trondheim. The commission is a turnkey contract with a value of approximately NOK 310 million, excluding VAT.

Ringve Pluss consists of three construction phases. Phase 1 encompasses the construction of a parking facility and 91 apartments across two residential blocks and one office building which will be converted into 32 apartments. The contract price for phase 1 is NOK 305 million, excluding VAT.

Phases 2 and 3 are both options which include 32 apartments and nine terraced houses respectively. The options have a value of approximately NOK 50 million, excluding VAT.

The project is developed with Selvaag’s trademarked “Plus” concept, which features serviced common areas, guest rooms, fitness suites, function spaces and offering of a variety of services.

“We have enjoyed working closely together with Selvaag Bolig on several major residential projects in and around Oslo over the years. We are delighted that Selvaag has now entrusted us with the construction of Trondheim’s first ever ‘Plus’ project. We are looking forward to once again working well together to deliver this incredible project,” says Jørgen Evensen, CEO of Betonmast.

Construction is due to start in mid-2022, and the project is scheduled for completion during the second half of 2024.

For further details, please contact:

Jørgen Evensen, CEO of Betonmast, tel.: +47 906 09 310

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