Veidekke

Earnings Release • Mar 4, 2025

Veidekke: Building homes in a circle for OBOS

Veidekke: Building homes in a circle for OBOS

OBOS has given Veidekke the assignment to build the circular housing project Oen

with 133 apartments at Ammerud in Oslo. The construction contract is a turnkey

contract worth 490 million kroner excluding VAT.

- We are very pleased to finally get started with this circular project in a

double sense for one of our very best customers. It has been over seven years

since we started planning to build the circle with Obos, and we are looking

forward to building a climate-friendly apartment building with a passive house

shell and renewable energy from solar cells on the entire roof. This is a

brilliant example of how it is possible to realize something groundbreaking and

visionary in a tough market if you have ambitious and skilled people at the

client, architect and contractor, says department manager Kaare Gilhus at

Veidekke Bygg Oslo.

The 133 apartments are spread over four to five floors, along with common rooms

such as reception room, guest rooms and hobby rooms where you can lubricate your

skis, wash your dog or repair your bike. In the basement there will be storage

rooms and parking facilities for bicycles and cars. Oen will be a so-called zero

-emission building, which means that the building will produce enough energy to

compensate for the energy use for operating the building. This is achieved

mainly from 1,400 solar panels on the roof and by the building itself being

built to passive house standards with energy class A.

- Now we can finally get this project in Groruddalen realized. There is a great

need for more housing in this part of Oslo, and many interested parties have

already expressed interest in buying a home here. Oen is an exciting and

sustainable project that will help to lift the entire area, says Executive Vice

President Ingunn Andersen Randa at OBOS.

Construction work is planned to start in April and be handed over in the spring

of 2027. The contract will be included in Veidekke's order reserve for the first

quarter of 2025.

For further information, please contact:

Head of department Rune Andersstuen, tel. +47 91 83 33 80,

rune.andersstuen@veidekke.no

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

helge.dieset@veidekke.no

Veidekke's press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028

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Veidekke (https://www.veidekke.com/) 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.

Its annual turnover is approximately NOK 41 billion, and 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..