Veidekke

Earnings Release • Aug 13, 2024

Veidekke: Construction start for billion project in Oslo

Veidekke: Construction start for billion project in Oslo

Before the summer, Nordr Norway selected Veidekke as the design and build

contractor for the Grønvoll quarter development at Helsfyr in Oslo. Now it is

ready for the first construction stage with 109 apartments, a commission valued

at NOK 382 million excl. VAT.

"We really appreciate the confidence shown in us by awarding us this commission,

as this is one of the largest housing projects starting up in Eastern Norway

this year with a total of more than 400 apartments. We have now demolished the

old buildings and are carrying out groundworks on the site. At the same time, we

are already planning for the next construction stage in the project along with

Nordr," says department manager Kaare Gilhus in Veidekke Bygg Oslo.

The first construction stage consists of two eight-story buildings with 46 and

63 apartments respectively, in addition an underground floor with storage rooms,

technical rooms and parking facilities for bicycles and cars. In one building,

there will be a local community space of 300 m2 across into two floors with

planned assembly and home office spaces as well as a bicycle workshop. In the

second building, there will be commercial activities on the ground floor.

In the courtyard between the buildings there will be a shared garden with varied

planting, several playgrounds and social zones with barbecue areas. There will

be shared roof terraces on four of the buildings with walkways between them. The

Grønvoll development will have Fyrstikktorget as its nearest neighbour and one

of the city's best public transport services.

The commission with the first construction stage will be entered into Veidekke's

order book for the third quarter. The contract between Veidekke and Nordr for

the entire Grønnvoll quarter was concluded in June and amounts to NOK 1.284

billion excl. VAT.

Read more about the Grønnvoll development here (https://www.nordr.com/no/boliger

-til-salgs/gronvollkvartalet/til-salgs).

For further information, please contact:

Department Manager Kaare Gilhus, tel. +47 45 03 01 97, kaare.gilhus@veidekke.no

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

helge.dieset@veidekke.no

CEO Henning Hanevold of Nordr Norway, tel. +47 91 78 60 20,

henning.hanevold@nordr.com

Veidekke's press photos (https://urldefense.proofpoint.com/v2/url?u=https

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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 43 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.