AF Gruppen

Related Party Transaction • Mar 14, 2025

Building a Hotel in Kristiansund

Building a Hotel in Kristiansund

Betonmast, a subsidiary of AF Gruppen, has signed a contract with Campus Kristiansund 3 AS to build a hotel in downtown Kristiansund. The agreement, which is a turnkey contract, is valued at approximately NOK 320 million excluding VAT.

The hotel will be approximately 9,000 square meters of gross floor area and will be operated by Strawberry. The hotel will be located next to Campus Kristiansund, a commercial building of 20,500 square meters of gross floor area that Betonmast handed over to the same client in the fall of 2024. Campus Kristiansund 3 AS is owned by Bane NOR Eiendom and NHP/Reitan Eiendom AS.

"This will be the second project in a short time for Bane NOR Eiendom and NHP/Reitan Eiendom AS, and is fully in line with our ambition to build for solid repeat developers. Together with Campus Kristiansund, the hotel will help elevate Kristiansund and the entire region," says Peter Sandrup, CEO of Betonmast.

Construction is estimated to start in August/September 2025, with estimated completion in June 2027.

For further information, please contact:

Peter Sandrup, CEO of Betonmast, tel.: +47 915 88 645

Bård Frydenlund, EVP Sweden and Betonmast for AF Gruppen, tel.: +47 918 68 621