AF Gruppen

Regulatory Filings • Nov 11, 2020

To build apartments in Porsgrunn

To build apartments in Porsgrunn

Betonmast, a subsidiary of AF Gruppen, has signed a contract with Porsgrunn Bolig AS to build the Frednes Brygge II project in Porsgrunn. The contract is a design and build contract valued at approximately NOK 210 million, excluding VAT.

In total, Frednes Brygge II comprises 65 apartments in two structures above underground parking. The contract is in two parts, where the first comprises the parking facility and the first block of 34 apartments, in addition to design and engineering of the entire project. There are sales reservations for the second construction stage of the contract for the remaining 31 apartments.

“We are very proud and grateful that Porsgrunn Bolig has placed confidence in us to also undertake building of this stage at Frednes Brygge. We have built several projects in Porsgrunn in the recent years and are pleased to play a part in making our mark on the city’s development. We are now looking forward to continue the good cooperation with the developers,” says CEO Jørgen Evensen of Betonmast.

Construction is scheduled to start in the first quarter of 2021, and completion is estimated to be in the fourth quarter of 2022.

For further information:

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

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