Veidekke

Earnings Release • Jul 5, 2023

Veidekke: New housing commission in Ålesund

Veidekke: New housing commission in Ålesund

Veidekke has been commissioned by Planor Bolig AS to construct the Daaehagen

housing project in the Ålesund neighbourhood of Moa. The project comprises 34

units across three apartment buildings, as well as underground car parking

facilities and children's playgrounds. The contract is a design and build

contract valued at NOK 116 million excluding VAT.

"We are so grateful for the vote of confidence and we look forward to

establishing a close partnership with this new customer. The housing market is

perceived by some to be facing challenges at present, which makes it

particularly gratifying to see that sales are going well. It is great that a

combination of quality and location still works," says Stig Mork, District

Manager of Veidekke Bygg Møre og Romsdal.

The three apartment buildings are three, four and five storeys tall,

respectively, and will accommodate apartments ranging in size from 57 to 153

m[2]. Each apartment has its own balcony, while some feature private roof

terraces. There will be underground car parking and rich and varied outdoor

areas including two children's playgrounds. The development is situated in a

central location within walking distance of restaurants, golf courses and one of

Norway's largest shopping malls offering more than 200 retail outlets.

"We are delighted to sign this contract with Veidekke as we embark on a major

new construction project in the Ålesund neighbourhood of Moa. This is a project

that we have worked hard to bring to fruition and that we can all be proud of.

The development will not only be attractive to those who buy homes in it to move

into, but also to neighbours in the local area. There will be neighbourhood

playgrounds for children, as well as new paths," says Bernt Ove Vågsæter, CEO of

Planor Bolig.

Design work is well underway and groundworks have just begun. The homes will be

ready for occupancy during the second quarter of 2025. Read more about the

project here (https://daaehagen.no/).

This commission is included in Veidekke's order book for Q2.

For further information, please contact:

Stig Mork, District Manager of Veidekke Møre og Romsdal, tel. +47 90 54 26 26

stig.mork@veidekke.no (are.westbye@veidekke.no)

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

helge.dieset@veidekke.no

Bernt Ove Vågsæter, CEO of Planor Bolig AS, tel. +47 90 77 22 82 bernt@planor.no

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Veidekke (http://www.veidekke.no)  is one of Scandinavia's largest contractors.

In addition to undertaking all types of building and civil engineering

assignments, the group also maintains roads and produces asphalt and aggregates.

Veidekke emphasises stakeholder involvement and local experience. Annual

turnover is approx. NOK 39 billion, and almost half of its 8,000 employees own

shares in the company. Veidekke is listed on the Oslo Stock Exchange and has

posted a profit every year since its inception in 1936.