Veidekke

Regulatory Filings • Sep 7, 2021

Veidekke ASA: New residential contract at Løren in Oslo

Veidekke ASA: New residential contract at Løren in Oslo

Veidekke has been commissioned by OBOS Nye Hjem AS and Nordr AS to continue

construction work as part of the Løren Botaniske residential project in Oslo.

The commission encompasses the construction of two blocks of apartments housing

91 residential units in total, an underground car park and outdoor works as part

of a design and build contract worth approximately NOK 235 million excluding

VAT. The project aims to be environmentally certified in accordance with the

BREEAM NOR Good standard.

This is a new order relating to the already-commenced Løren Botaniske

residential project. The two buildings comprising seven storeys will be adjacent

to a courtyard with extensive green and cultivable outdoor areas with a

greenhouse and food plants that will allow the residents to harvest fruit and

berries. Most of the buildings will also have roof terraces with furnished areas

and the opportunity to grow herbs and vegetables, for example. When completed,

the entire Løren Botaniske project will comprise 385 apartments in seven

detached buildings, a kindergarten and some retail premises.

'It is both happy news and a boost to our confidence to be entrusted with

starting work sooner than originally scheduled and bringing forward the

completion date on these homes. Of course, it also gives us the opportunity to

ensure excellent levels of continuity on this project, which is one of our

biggest phased housing projects. This commission comprises a total of seven

buildings, and the full commission at Løren Botaniske is worth almost NOK 1

billion excluding VAT to us sat Veidekke,' says Anders W. Haugen, Director of

Veidekke Bygg Oslo.

The project will be carried out as a fossil-free construction site. Construction

work will begin with immediate effect and is scheduled for completion by summer

2023. More information about the project: www.obos.no/lorenbotaniske.no

The contract is included in Veidekke's order backlog for Q2 2021.

For more information please contact:

Head of department Morten Barreth, tel. +47 93 88 37 16,

morten.barreth@veidekke.no

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

helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction companies. The company

undertakes all types of construction and civil engineering contracts, maintains

roads, and produces asphalt and aggregates. Veidekke emphasises stakeholder

involvement and local experience. Its annual turnover is approx. NOK 38 billion,

and around half of its 8,100 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.