Veidekke

Earnings Release • May 4, 2021

Veidekke ASA: New housing contract in Stavanger

Veidekke ASA: New housing contract in Stavanger

Veidekke has been awarded the contract by Øgreid Eiendom AS to build the first

stage of the Søstrene Hinna residential project at Jåttå in Stavanger. Here

Veidekke will build 51 residential units in four terraced houses and two

apartment blocks, in addition to a common underground parking facility. The

contract is a turnkey contract valued at NOK 120 million, excl. VAT.

In total, the Søstrene Hinna residential project will comprise 18 terraced

houses and 124 apartments across three building stages. The contract with

Veidekke concerns the first 51 homes in the buildings B1, BB1 and BB2 totalling

around 8,000 m[2], including storage rooms and underground parking that will be

readied for further development and connection with the subsequent building

stages.

"Veidekke has extensive and good experience with carrying out construction of

housing projects of this scale. This is a great project in an interesting

development area in what is becoming one of Stavanger's most attractive

districts. We would like thank to Øgreid Eiendom for the contract and are

looking forward to getting started on construction work after the summer," says

director Are Westbye of Veidekke Bygg Syd.

Søstrene Hinna is the starting point for the development of Hinna Park. When

fully developed the area will comprise around 1,500 new homes and 6,000

workplaces. Attractive outdoor areas and parks will also be developed in

connection with the project.

"In our project we have emphasised developing homes of high architectural

quality and good common areas with social zones and guest bedsits, that we call

homes according to the Øgreid Eiendom standard. Start of construction has been

approved, and home buyers will be a part of a safe and predictable journey from

purchase to occupation," says general manager Erlend Aanestad of Øgreid Eiendom.

Start of construction is planned for September, and the homes are scheduled to

be ready for occupation in the course of 2023.

For more information please contact:

Are Westbye, director of Veidekke Bygg Syd, tel. +47 900 78 433,

are.westbye@veidekke.no

Erlend Aanestad, general manager of Øgreid Eiendom, tel. +47 400 77 625,

erlend.aanestad@ogreid.no

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

helge.dieset@veidekke.no

Veidekke's press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028

-Pressebilder-Veidekke/)

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Veidekke is one of Scandinavia's largest contractors. The company undertakes all

types of construction and civil engineering contracts, maintains roads, and

produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and

local experience. Its annual turnover is approx. NOK 38 billion, and around half

of its 8,100 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.