Veidekke

Regulatory Filings • Jul 3, 2020

Veidekke ASA: New housing contract at Ulven in Oslo

Veidekke ASA: New housing contract at Ulven in Oslo

Team Veidekke DA has been commissioned by Ulven Bolig AS (OBOS) to undertake

another stage of construction, comprising 182 apartments, underground garage

facilities and outdoor facilities. The contract is a turnkey contract valued at

around MNOK 365, excluding VAT. Ulven is one of OBOS' largest ever development

projects, with nearly 3,000 apartments.

The new site has been named Ulven Vest and is the second such site developed by

Team Veidekke. The finished project will have beautiful parks and market squares

in the immediate vicinity, underground parking and car-free sections of street

on both sides. The location is central in what will be the new Ulven, with only

a short walking distance from the shopping centre and metro station at Økern. It

is a continuation of the concept for the first 342 apartments from the

innovation bid in 2017.

"Thank you for commissioning us. Ulven Vest is an exciting project in which,

together with OBOS and our partners, we have further developed our concept from

the initial site at Ulven. Together, we have come up with what we believe to be

the future of collaboration when it comes to constructing attractive housing

that is affordable to most people," says Anders W. Haugen, Director at Veidekke

Bygg Oslo.

"It is extremely satisfying that we can now conclude the next site at Ulven

together with Team Veidekke. The collaboration and the process have been

outstanding and we look forward to getting started with the construction. It is

impressive that, together, we are able to construct Ulven at much lower costs

than most of our other housing projects. The quality and outdoor areas at Ulven

are at least the equal of the other OBOS projects in Oslo," says Nils Morten

Bøhler, CEO of OBOS Eiendom AS.

"At Team Veidekke, we are really starting to see the benefits of this way of

thinking and organising. We work together at Ulven three days a week, ensuring

an excellent sense of ownership and continuity and together we identify the

best, most cost-effective and rational solutions. We are now looking forward to

getting started on the construction of yet another site here at Ulven," says

Project Manager and General Manager Espen Stordal from Team Veidekke.

Team Veidekke DA comprises Veidekke Bygg Oslo, Bravida Norge, LPO Arkitekter,

Erichsen & Horgen, Dr techn. Olav Olsen and Landskaperiet. Ulven Bolig AS is a

subsidiary of OBOS Eiendom AS. Find more information about the project at

www.obos.no/ulven

The contract is included in Veidekke's order book for Q2.

Caption: Signing of contract with (from left) Broska Karim, Espen Stordal,

Gunhild Hanto Samer (all Team Veidekke) and Halvor Olsen (Ulven Bolig/OBOS).

For more information, contact:

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

Head of Department Kaare Gilhus, tel. +47 45 03 01 97, kaare.gilhus@veidekke.no

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

helge.dieset@veidekke.no

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

-Pressebilder-Veidekke/)

Subscribe to notices from Veidekke (http://veidekke.com/no/borsmeldinger/abonner

-pa-meldinger/)

Veidekke is one of Scandinavia's largest construction and property development

companies. The company undertakes all types of building construction and civil

engineering contracts, develops residential projects, maintains roads, and

produces asphalt and aggregates. The company is known for its engagement and

local knowledge. Annual turnover is approximately NOK 39 billion and around half

of its 8600 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.