AF Gruppen

Regulatory Filings • May 19, 2017

AF Gruppen to build 83 flats at Røa in Oslo

AF Gruppen to build 83 flats at Røa in Oslo

AF Gruppen has signed a contract with Aslakveien 20 AS (OBOS Nye

Hjem AS 97,5 % and Union Eiendomskapital AS 2,5 %) to build the

second stage of the Røakollen housing development at Røa in Oslo.

Røakollen is a new housing project developed by OBOS close to the

centre of Røa, and with immediate access to the green spaces in

Mærradalen. A total of 360 apartments in five buildings will be

erected at Røakollen in the years ahead. AF Gruppen has already been

awarded the contract for the first construction stage comprising 130

apartments.

The second stage includes 83 apartments in a building with a

subterranean cellar. The project will be carried out as a design and

build contract and has an estimated value of NOK 191 million,

excluding VAT. Planning and design has started, and demolition of

existing buildings will be carried out in Q2 and Q3 2017.

Construction is scheduled to start in Q3 2017, with completion in Q1

2020. The construction of the apartments is subject to adequate

advanced sales.

"We greatly appreciate the confidence OBOS and Union have shown in

us by awarding AF Gruppen this contract. We look forward to starting

work in good cooperation with the client," says CEO of AF Gruppen,

Morten Grongstad.

For further information:

CEO: Morten Grongstad, tel. +47 99 15 39 05

EVP Building: Henning Olsen, tel. +47 917 41 592