Veidekke

Regulatory Filings • Jun 20, 2019

Veidekke ASA: To build more at Straume

Veidekke ASA: To build more at Straume

Veidekke will build the Grønamyr quarter for Sartor Storsenter AS and Portalen

Eiendomsutvikling AS in Kystbyen at Straume. The project comprises 110

apartments, commercial premises and a large roof over the existing goods

reception. The contract has an overall value of NOK 230 million, excluding VAT.

This construction stage comprises two residential blocks of five and six storeys

respectively, commercial premises and a concrete slab over the current goods

reception for Sartor Storsenter. One of the residential blocks is for rental and

the other is for sale. The homes for sale will be organised as a housing

cooperative, and are intended to be financed by the Norwegian National Housing

Bank. Between the blocks there will be a common outdoor space and green areas

with universal design access from the ground level.

"We would once again like to say thank you for the confidence placed in us, and

are looking forward to transforming Straume from a mere shopping centre and

commercial area to an attractive residential community in the new Sotra Kystby.

Here we have been a part of developing the project from the start, and together

with TAG Arkitekter and the clients, all players have been involved to ensure an

optimal and integrated building process," says district manager Anders W. Haugen

of Veidekke Bygg Bergen.

Straume has a central location in Nye Øygarden municipality and was from the 70s

onwards developed as a commercial area with Sartor Senter as the focal point. In

recent years the shopping centre has been transformed, and a number of homes, a

square and other public areas have been developed in what has become the new

Kystbyen. Common parking has been established underground in Kystbygarasjen, and

from here one may walk or cycle via a pedestrian tunnel to Straume Sjøfront.

"It is particularly gratifying that a good part of the building materials from

structures that have to make way for the new buildings will be reused in the

'barn' in the new park that is being established in Kystbyen. In other words,

circular economy in practice," Bygnes concludes.

Construction work starts in June 2019, with completion scheduled for November

2021. More information about the project: https://grønamyra.no/

For more information, contact:

District Manager Erlend Bygnes, tel. +47 970 95 333, erlend.bygnes@veidekke.no

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

helge.dieset@veidekke.no

CEO Ernst M Einarsen of Sartor Holding, tel. +47 95 91 30 88,

ernst@sartorholding.no

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Veidekke is one of Scandinavia's largest construction and property development

companies. The company undertakes all types of building construction and civil

engineering contracts, develops residential projects, maintains roads, and

produces asphalt and aggregates. The company is known for its involvement and

local knowledge. Annual turnover is approx. NOK 36 billion, and around half of

its 8600 employees own shares in the company. Veidekke is listed on the Oslo

Stock Exchange and has always posted a profit since it was founded in 1936.