Veidekke

Regulatory Filings • Nov 4, 2020

Veidekke ASA: New residential contract at Løren in Oslo

Veidekke ASA: New residential contract at Løren in Oslo

Veidekke has been awarded the contract by OBOS and Nordr to build the first 67

apartments with accompanying parking facilities in the Løren botaniske

residential project in Oslo. The contract is a design and build contract valued

at NOK 252 million excluding VAT. The project is build according to the

environmental standard BREEAM-NOR.

The first construction stage involves erecting an eight-storey building with 67

apartments, associated landscaping, infrastructure and underground parking. The

building will be adjacent to a courtyard with extensive green and cultivable

outdoor areas with a greenhouse and food plants that will allow the residents to

harvest fruit and berries.

When completed, the entire Løren botaniske project will comprise 390 apartments

in seven detached buildings, retail premises and a kindergarten. Most of the

buildings will also have roof terraces with furnished areas and the opportunity

to grow herbs and vegetables, for example.

"We appreciate the confidence the client has shown us once again at the former

industrial site at Løren in Oslo. So far, we have had the pleasure of building

attractive new homes for around 1,500 residents, a kindergarten for 120 children

and retail premises in the Gartnerløkka and Gartnerkvartalet projects. With the

contract for Løren botaniske we extend the good and lengthy partnership with

OBOS and Nordr. It will probably be around ten years from the time we first

broke ground and until everything is finished here," says Anders W. Haugen,

Director of Veidekke Bygg Oslo.

This contract comprises the first of a total of seven buildings that will be

started as the sale of apartments proceeds. The value of the entire Løren

botaniske building contract constitutes almost NOK 1 billion excluding VAT for

Veidekke.

The project will be carried out as a fossil-free construction site. Construction

has already started, and completion is scheduled for the autumn of 2022. More

information about the project: www.obos.no/lorenbotaniske.no

The contract is included in Veidekke's order backlog for Q3 2020.

For more information please contact:

Director Anders W. Haugen, tel. +47 97 66 63 14, anders.haugen@veidekke.no

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

helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction companies. The company

undertakes all types of construction and civil engineering contracts, maintains

roads, and produces asphalt and aggregates. The company is known for its

engagement and local knowledge. Its annual turnover is approx. NOK 37 billion,

and around half of its 8,200 employees own shares in the company. Veidekke is

listed on the Oslo Stock Exchange and has always posted a profit since it was

founded in 1936.