Selvaag Bolig ASA

Selvaag Bolig ASA - good sales in all markets

Selvaag Bolig ASA sold 238 homes during the first quarter of 2017 with a total

value of NOK 1 284 million. The average price per home sold was NOK 5.4 million,

compared with NOK 3.9 million during the same period of last year.

"Sales have been good and stable in all markets. The number of homes sold was

down from the first quarter of 2016 because we had no major sales starts during

the first three months. However, the value of the units sold was considerably

higher. We also have more joint ventures than before." comments CEO Baard

Schumann.

Not including joint ventures Selvaag Bolig sold 190 homes with a total value of

NOK 984 million during the first quarter. The company began construction of 186

units, completed 63 and delivered 85 to the buyer. It had 1 479 homes under

construction at 31 March and 32 completed units which remained unsold.

Net sales in the first quarter of 2016 came to 280 homes with an overall value

of NOK 1.1 billion. Gross sales during the period amounted to 294 homes.

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 to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

AI Terminal