Veidekke

Earnings Release • Mar 27, 2023

Veidekke: New housing contract in Stavanger

Veidekke: New housing contract in Stavanger

Veidekke has been commissioned by Øgreid Eiendom AS to build the second stage of

the Søstrene Hinna residential project in Stavanger. This is a building with 30

apartments with underground parking, 11 townhouses and underground parking for

the next sales stage. The contract is a design and build contract valued at NOK

133 million, excluding VAT.

"We are pleased and proud of the renewed confidence shown in us for the next

construction stage of Søstrene Hinna. We have a very good partnership with

Øgreid Eiendom on the project and will now have good continuity for our team at

the site. It is also pleasing to see that residential sales are so good in

Stavanger in general and in Jåttåvågen in particular, which means that we can

start planning further development stages together with Øgreid," says District

Manager Bendik Aarstad with Veidekke Bygg Rogaland.

The Søstrene Hinna project includes extensive green areas and spacious common

areas. On the seventh floor of the apartment building there will be coworking

spaces for use by residents. There will also be guest rooms with hotel standard

on the ground floor. The project is located in Hinna Park, which will be

Stavanger's most modern district. When fully developed, the area will have

around 1,500 new homes and 6,000 jobs, attractive outdoor spaces and parks with

a short distance to shops, restaurants, trains, buses and bike paths.

"We are pleased to sign yet another contract with Veidekke Rogaland for stage 2

of Søstrene Hinna. The project has been a success in the market and we have a

contractor on board that delivers quality at every level. We are looking forward

to planning further construction stages at Søstrene Hinna in Hinna Park," says

project manager Stig Kristensen of Øgreid Eiendom.

Start of construction is planned for May/June, and the homes are scheduled to be

ready for occupation in Q1 2025.

For further information, please contact:

Bendik Aarstad, district manager with Veidekke Bygg Rogaland, tel. +47 911 93

701, bendik.aarstad@veidekke.no (are.westbye@veidekke.no)

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

helge.dieset@veidekke.no

Erlend Aanestad, general manager, Øgreid Eiendom, tel. +47 400 77 625,

erlend.aanestad@ogreid.no

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Veidekke 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.