Selvaag Bolig ASA

Related Party Transaction • Dec 23, 2020

Selvaag Bolig ASA: Buys land for 420 homes in Oslo and Stockholm

Selvaag Bolig ASA: Buys land for 420 homes in Oslo and Stockholm

Selvaag Bolig has acquired three sites in Oslo and Stockholm which can

collectively accommodate about 420 homes. The first of these could be ready for

sale in 2021-22.

"We've been selling homes at a rapid pace during the fourth quarter and expect

to go on doing so," reports CEO Sverre Molvik. "Although we have a solid land

bank, we're therefore working continuously to acquire attractive development

properties.

"That applies particularly in Oslo and Stockholm, which both have a big need for

new housing driven by high population growth and urbanisation, as well as

insufficient construction over time."

The Oslo site at Lilleakerveien 47 in the western part of the city could yield

some 150 units, with sales starting in 2021-22.

In Stockholm, the land acquired is in the Slakthus area and at Årstafältet in

the Söderort transformation district. These will have the capacity for about 150

and 120 homes respectively.

"All the sites are very well positioned," explains Molvik. "The Lilleakerveien

project will be first off the blocks, and we expect to start sales there in late

2021 or early 2022.

"Provisionally, it extends over eight properties covering a total of one hectare

and will provide both flats and commercial premises.

"This area is close to public transport, between the Lilleaker and Sollerud tram

stops and immediately adjacent to the bus stop in Lilleakerveien.

"Our plans involve homes built to a high standard, and most of the flats will

have a fantastic view."

Further information from

Sverre Molvik, CEO, Selvaag Bolig ASA

Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no

Kristoffer Gregersen, vice president communications and market, Selvaag Bolig

ASA

Telephone: +47 957 75 593, e-mail: kgr@selvaagbolig.no

Selvaag Bolig ASA is a residential property developer controlling the entire

value chain from acquisition of land to sale of homes. The company has several

thousand homes under development at any given time, and focuses on the growth

areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig

represents a continuation of Selvaag's 70-year history and experience, and

offers a broad variety of property types. The company is headquartered at Ullern

in Oslo.

www.selvaagboligasa.no/en