Veidekke

Earnings Release • Mar 24, 2023

Veidekke: To build student apartments in Gjøvik

Veidekke: To build student apartments in Gjøvik

Sit has awarded Veidekke the commission to build 98 student apartments in

Kallerud student village in Gjøvik. The building will have high environmental

qualities with extensive use of wood and will also include common areas for the

entire student village, an operations centre and a parking facility. The

commission is a design and build contract valued at almost NOK 140 million,

excluding VAT.

"We're proud to have won the competition for the commission and would like to

thank Sit for their confidence in us. Customers who want innovation and

sustainable buildings with significant CO\2\ reductions are those we prefer to

build for. This autumn we have had a close and good interaction phase with Sit

and the users of the building where we have developed the project in

partnership, so now we're looking forward to starting the actual construction

work," says District Manager Geirmund Østvold of Veidekke Bygg Indre Østland.

The building will be 4,200 m[2] in size over three and six storeys respectively

above a basement floor with common areas. The use of wood in the outer walls and

solid wood in the load bearing structures ensure that the building will have

CO\2 \emissions almost 40% below the TEK 17 building requirements. Social

sustainability is also emphasised in the building, where the extensive common

areas will facilitate both planned and ad-hoc social activities for the entire

student village.

"This is the first project to start after the Government expanded the cost

framework for the construction of student housing. The new cost framework

finally makes it possible to restart student housing construction following a

difficult period where several projects had to be put on hold due to the sharp

increase in prices in the construction industry," says project manager Arve Lyng

with Sit.

Start of construction is planned for April and completion is scheduled for

August 2024.

For further information, please contact:

District Manager Geirmund Østvold, tel. +47 95 13 66 36,

geirmund.ostvold@veidekke.no

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

helge.dieset@veidekke.no

Project manager Arve Lyng with Sit, tel. +47 92 40 31 91, arve.lyng@sit.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.