Selvaag Bolig ASA

Selvaag Bolig ASA - sold homes for NOK 3.2 billion in 2015

Selvaag Bolig ASA sold 209 residential units with a combined value of NOK 751

million in the fourth quarter of 2015. Totals for the full year were 935 homes

worth NOK 3 214 million.

"We're very pleased that we sold more homes than in 2014 despite the fact that

the Stavanger market came to a standstill," says CEO Baard Schumann at Selvaag

Bolig. "Housing sales have been steady and good throughout the year. That shows

we have attractive projects in the right places.

"We expect these regional variations to persist, but are optimistic about 2016.

It will take time for the Stavanger market to recover, but population growth and

demand for new homes is high in all the markets we operate. Greater Oslo, where

almost 80 per cent of our portfolio is concentrated, also suffers from a

significant gap between supply and demand. This could result in significant

price growth."

Selvaag Bolig initiated the construction of 171 residences during the fourth

quarter. The company completed 258 units, and 235 were delivered to their

buyers.

Sales for 2015 as a whole amounted to 935 homes worth a combined NOK 3 214

million. The construction of 858 units was initiated, 828 were completed and

893 were delivered to buyers. At 31 December, the company had 1 339 homes under

construction and 65 which were completed but unsold.

Selvaag Bolig sold 233 homes with a total value of NOK 795 million in the fourth

quarter of 2014, and 886 with a combined value of NOK 3 049 million for the year

as a whole. It had 1 308 homes under construction at 31 December 2014.

Further information from

Baard Schumann, CEO, Selvaag Bolig ASA

Telephone: +47 940 80 000, e-mail: [email protected]

Sverre Molvik, CFO, Selvaag Bolig ASA

Telephone: +47 401 00 585, e-mail: [email protected]

Selvaag Bolig ASA is a residential property developer controlling the entire

value chain from acquisition of land to sale of homes. The company has several

thousand homes under development at any given time, and focuses on the growth

areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig

represents a continuation of Selvaag's 60-year history and experience, and

offers a broad variety of property types marketed under the brand names Start,

Hjem and Pluss. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1976331]

AI Terminal