Veidekke

Regulatory Filings • Feb 3, 2025

Veidekke: Hotel contract in Stavanger

Veidekke: Hotel contract in Stavanger

Veidekke has signed a contract with H.I.G. Capital for the conversion of an

office building into what will become Hotell Hinna with 181 rooms in Jåttåvågen

in Stavanger. The commission is a design and build contract valued at just over

NOK 125 million excluding VAT.

"We greatly appreciate the confidence shown in us and are looking forward to

starting the construction work," says district manager Bendik Aarstad with

Veidekke Bygg Rogaland. "We strongly believe that such conversion projects will

become an increasingly important part of our business, especially with today's

climate and sustainability perspective in mind. This is therefore an important

focus area for Veidekke. In addition, having another project just outside our

own office window is particularly motivating."

The existing office building in Jåttåvågveien has eight floors in addition to a

basement and was completed in 2012. Now the building will undergo full internal

alteration works, and the same applies to parts of the façade. The new 9,000 sqm

hotel will also provide food and drink alternatives for both guests and the

local community.

"We conducted a tender process in the spring of 2024 that Veidekke won. Their

constructive contribution in the interaction phase makes us optimistic that the

project is in good hands now that we are entering the design and build phase.

We're looking forward to the hotel opening in 2026 as a positive addition to

Hinna Park, and also to our office project at the neighbouring Avant property.

Combined, this will be a complete conversion of what previously was Aker's

headquarters in Stavanger, from a single-user building to a modern complex with

services from hotels to offices as well as several exciting dining concepts on

the ground floor," says Nils Christian Fixdal with Anvil Asset Advisors, H.I.G

Capital's operating partner on their portfolio in Stavanger.

Work will start immediately, and completion is scheduled for the spring of 2026.

This contract is included in Veidekke's order book for the first quarter.

For further information, please contact:

Bendik Aarstad, district manager Veidekke Bygg Rogaland, tel. +47 911 93 701,

bendik.aarstad@veidekke.no (are.westbye@veidekke.no)

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

helge.dieset@veidekke.no

Nils Christian Fixdal, Co-CEO Anvil Asset Advisors, tel. +47 93 26 36 13,

ncf@anvil.no

Veidekkes press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028

-Pressebilder-Veidekke/)

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Veidekke (http://veidekke.com/no/borsmeldinger/abonner-pa-meldinger/)

Veidekke (https://www.veidekke.com/) is one of Scandinavia's largest

contractors. In addition to undertaking all types of building and civil

engineering assignments, the group also maintains roads and produces asphalt and

aggregates. Veidekke emphasises stakeholder involvement and local experience.

Its annual turnover is approximately NOK 43 billion, and half of its 8,000

employees own shares in the company. Veidekke is listed on the Oslo Stock

Exchange and has posted a profit every year since its inception in 1936.