AF Gruppen — M&A Activity 2017

Jun 23, 2017

AF Gruppen to build 144 flats at Hasle in Oslo

AF Gruppen to build 144 flats at Hasle in Oslo

AF Gruppen has signed an agreement with Haslemann AS to build the

fifth phase of the Krydderhagen housing project at Hasle. The

residential development company Haslemann AS is owned 50/50 by AF

Gruppen and Höegh Eiendom AS.

Krydderhagen is the residential portion of the HasleLinje

development. HasleLinje is a new commercial and residential

development project centrally located at Hasle in Oslo. A total of

7-800 homes are planned for HasleLinje, of which approx. 550 are

being developed by AF Gruppen and Höegh Eiendom AS.

The fifth stage includes 144 apartments in 4 buildings with a

subterranean cellar. This construction stage will be carried out as

a design and build contract valued at NOK 353 million, excluding

VAT. The project starts in August 2017. Completion of the project is

scheduled for Q1 2019. The construction of the apartments is subject

to adequate advanced sales.

"Krydderhagen has been very well received among home buyers in the

capital, and we're looking forward to getting started with another

construction stage at Hasle," says Morten Grongstad, CEO of AF

Gruppen.

For further information:

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

EVP Building Greater Oslo and Sweden: Henning Olsen, tel. +47 917 41

592