AF Gruppen

Earnings Release • Jun 15, 2017

AF Gruppen has received an order for a new construction stage in Bispevika

AF Gruppen has received an order for a new construction stage in Bispevika

Today AF Gruppen received an order from Oslo S Utvikling

(OSU) for yet another construction stage in Bjørvika. The

construction stage comprises area B6a, which is located due

south of Dronninglunden (area B2), that AF Gruppen will also

build. Both areas are north of Bispekilen, and with this

order development work has started in the entire Bispevika

North area.

The B6a area comprises a total of 9 different buildings with

varied designs and attractive outdoor areas. The project

includes 215 apartments overall, in addition to

externally-oriented activities at street level and an

extension of Oslo's harbour promenade on the surrounding

quay. Danish architect firm Vandkunsten is designing the

area, which will become a premium housing project by the

shoreline of the Oslo fjord, and several apartments will

have the sea right outside their windows.

AF Gruppen will start foundation work in September 2017, and

completion is scheduled for the spring of 2020. The contract

value is estimated at NOK 739 million, excluding VAT.

Construction above ground level is subject to adequate

advance sales of apartments.

- "The contract includes ambitions for cost-effective

and innovative development, and we are looking forward to

cooperating with OSU on realizing these ambitions," says CEO

of AF Gruppen, Morten Grongstad.

For further information:

CEO: Morten Grongstad, tel. +47 991 53 905

EVP Building Greater Oslo and Sweden: Henning Olsen, tel.

+47 917 41 592