AF Gruppen

M&A Activity • Mar 2, 2021

AF to build 296 apartments in Lørenskog

AF to build 296 apartments in Lørenskog

AF Gruppen has signed an agreement with Skårersletta 50 Holding to build the “MIDT” residential project at Skårer in Lørenskog. Skårersletta 50 Holding AS is owned by AF Gruppen (50%) and OBOS (50%). The contract is a turnkey contract valued at NOK 714 million, excluding VAT.

The residential project is at the centre of Skårersletta, between the Metro and Triaden shopping centres. The project comprises 296 apartments in four buildings circling a large and green courtyard without traffic. The courtyard will have seating areas, playground equipment and vegetation and will serve as an outdoor space for residents. All of the homes will be one- to five-room apartments ranging in size from 23 to 112 square metres. Almost all of the apartments will have balconies, and many will have their own roof or ground terraces.

“Lørenskog’s population is growing rapidly. OBOS Nye Hjem and AF Eiendom have developed “MIDT” to be a residential project that complies with the municipality’s plan to make Skårersletta a model green street. AF has extensive experience in Lørenskog through the development and building of the “Rolvrsud” and “Thurmannskogen” projects. Together with OBOS we are looking forward to developing Lørenskog into an attractive place to live,” says Amund Tøftum, CEO of AF Gruppen.

The contract comprises a total of 35,000 square metres gross area and in addition to apartments, it will include retail premises and a subterranean garage with storage areas and technical facilities.

Sales start in Q1 2021. Demolition by AF Decom is scheduled to start in the second quarter of 2021, while construction by AF Bygg Oslo will start in the third quarter of 2021. The project is expected to be completed in the fourth quarter of 2024. Project commencement is subject to the board's final approval.

For further details, please contact:

CEO: Amund Tøftum, tel. +47 920 26 712

EVP Building: Tormod Solberg, tel. +47 950 59 495