AF Gruppen

Earnings Release • Jun 29, 2018

AF Gruppen to build 149 apartments at Grünerløkka

AF Gruppen to build 149 apartments at Grünerløkka

AF Gruppen has signed a contract with Sofienberggaten 21-23 AS to build the residential project "Mills-kvartal" at Grünerløkka in Oslo. The residential development company is owned by Agra, Canica and Macama (40 % / 40 % / 20 %).

The contract comprises building 149 apartments in five structures with a cellar. In addition to the apartments, the project will also include a day care centre, commercial premises for cafes and shops, and a park in the centre of the quarter.

The Mills quarter is centrally located at Grünerløkka and just next to the Sofienberg park. Up until 2013 the property was used for food production by Mills fabrikker.

The project will be carried out as a design and build contract and is valued at NOK 400 million excluding VAT. Construction will start in August 2018, and completion is expected in Q1 2021. Sufficient sales for starting the project have been achieved, and the board of Sofienberggaten 21-23 AS have made a decision to start.

"Grünerløkka is an urban and attractive area. We're looking forward to contributing to the area with a new and exciting residential project in close cooperation with the customer," says Morten Grongstad, CEO of AF Gruppen.

For further information:

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

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