AF Gruppen

Regulatory Filings • Apr 6, 2018

Strøm Gundersen Vestfold to build 64 apartments in Horten

Strøm Gundersen Vestfold to build 64 apartments in Horten

Strøm Gundersen Vestfold AS, a subsidiary of AF Gruppen, has signed a contract with Storgaten 1-3 Invest AS c/o Usbl to build 64 apartments in two buildings with accompanying underground parking at Storgaten 1-3 in Horten.

The contract will be carried out as a design and build contract and has an overall value of NOK 125 million excluding VAT. Start-up is subject to adequate sales. The expected start of the first building stage is the summer of 2018, with completion in Q4 2019.

The Karolines Hage project is centrally located in Horten, and will comprise attractive apartments where the two buildings create a courtyard around a common outdoor area. The outdoor area is thus sheltered from the surrounding streets. All the apartments have either a balcony or ground terrace, and the top apartments will have sheltered and sunny roof terraces. Usbl is builder and sales launches April 11th. For more information on the project: https://usbl.no/nye-boliger/karolines-hage

"This is an important project for our construction business in Vestfold. We appreciate the confidence shown in us and are looking forward to starting the project," says Morten Grongstad, CEO of AF Gruppen.

For further information:

CEO, AF Gruppen: Morten Grongstad, tel. +47 99 15 39 05

EVP Building, AF Gruppen: Henning Olsen, tel. +47 91 74 15 92

General manager, Strøm Gundersen: Arne Riise, tel. +47 97 53 12 49