Veidekke

Veidekke selling a logistics project

Veidekke Eiendom AS has signed a contract with Pareto Eiendomsfellesskap AS for

the sale of a commercial property in Berghagan Industrial park in the

municipality of Ski.

The property comprises a logistics building of 11,650m², of which over 60% is

leased to Truck & Trailer Industry AS on a 15-year lease. Negotiations are under

way for lease of the remaining area in the building. The property is under

construction and is expected to be completed in the fourth quarter of 2019.

"Together with Veidekke Logistikkbygg, we have increased our focus on own

-account development of logistics sites. This is an exciting project with a

good, reliable tenant, which we are pleased to have sold to a professional

property owner with a long-term perspective. By selling the project before

completion, we are freeing up capital for new projects," says Thomas Nielsen,

Investments Director at Veidekke Eiendom.

"We are very pleased to have acquired yet another modern logistics facility that

fits perfectly into the fund's existing portfolio. With Veidekke as the project

manager and contractor, we know that we are getting a top-quality product for

both the tenant and the property owner," says Johan Anker-Rasch, CEO of Pareto

Alternative Investments.

The sale of the logistics project is an important milestone in Veidekke's

business strategy with a focus on developing logistics projects, offices and

combined residential and commercial projects.

Veidekke Logistikkbygg (formerly: Norske Stålbygg) has been contracted in as the

contractor for a design and build contract with a value of NOK 125 million excl.

VAT. See also the press release of 13 November 2018.

For more information, please contact:

Director of Business Development at Veidekke Eiendom, Audun Blegen, tel. +47 959

SVP Finance Jørgen Michelet, tel. +47 917 43 856, [email protected]

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

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

contracts, develops residential projects, maintains roads, and produces asphalt

and aggregates. The company is characterised by involvement and local knowledge.

Revenue is around NOK 36 billion, and half of the 8,600 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.

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