Veidekke

Earnings Release • Jan 21, 2019

Veidekke ASA: Building 130 homes at Løren in Oslo

Veidekke ASA: Building 130 homes at Løren in Oslo

Veidekke Entreprenør has signed a contract to build the fourth stage of the

Gartnerkvartalet residential development with Lørenvangen Utvikling AS (jointly

owned by OBOS Nye Hjem and Veidekke Eiendom). The value of the contract is NOK

290 million excluding VAT.

"Sales have been very good for Gartnerkvartalet. The combination of small and

large apartments with underground parking, balconies, roof terraces, several

types of garden allotments and not least large open green spaces is something

buyers obviously have appreciated. Our goal is to build good neighbourhoods, and

here everything is coming together," says Managing Director Øyvind Moen of

Veidekke Eiendom.

This fourth building stage comprises a building 9 and 10 storeys in height with

130 homes, underground parking and additional underground parking for the

subsequent stage. There is a broad selection of 2, 3, and 4 room apartments,

where the apartments on the ground floor will have their own garden allotment or

spacious terrace. Upon completion, a ball court will be established in a section

of the spacious courtyard. As an extension of the green vision, common

allotments will be established in addition to a pergola as a meeting place in

the courtyard.

Gartnerkvartalet is an extension of the neighbouring Gartnerløkka project, and

when completed it will comprise a total of 540 homes in seven blocks of flats

built in several stages. The blocks of flats will surround a large, sunny

courtyard nearly 10,000 square metres in size with bushes, trees and allotment

gardens. The first residents moved in in the late summer of 2018. The total

sales value of all of the homes in Gartnerkvartalet is around NOK 2.5 billion.

The overall sales ratio for the project is currently at approximately 80%.

Excavation work for the fourth building stage is completed, and work on the

basement is currently ongoing. Completion of the homes is scheduled for the

fourth quarter of 2020.

More information on the project: www.gartnerkvartalet.no

For press photos, see www.flickr.com/photos/veidekke, for more information

contact:

Managing Director Øyvind Moen of Veidekke Eiendom, tel. +47 93 20 14 19,

oyvind.moen@veidekke.no

Communications Manager Helge Dieset, Veidekke, tel. +47 90 55 33 22,

helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development

companies. The company undertakes all types of building construction and civil

engineering contracts, develops residential projects, maintains roads, and

produces asphalt and aggregates. The company is known for its involvement and

local knowledge. Revenue is almost NOK 32 billion, and half of the 8,000

employees own shares in the company. Veidekke is listed on the Oslo Stock

Exchange and has always posted a profit since it was founded in 1936.