Veidekke

Regulatory Filings • Feb 8, 2022

Veidekke ASA: To build more at Vollebekk in Oslo

Veidekke ASA: To build more at Vollebekk in Oslo

OBOS Nye Hjem has awarded Veidekke the contract to build the Vollebekk

Torgkvartal housing cooperative with 153 environmentally certified apartments,

five shared apartments, a kindergarten, commercial premises and underground

parking at Vollebekk in eastern Oslo. This is the sixth construction stage in

the major project, and the design and build contract is valued at NOK 505

million excluding VAT.

"We are very pleased to continue building at Vollebekk. OBOS has a culture that

is a good fit with our own, and with one of Oslo's best housing teams in place,

I'm confident that this project will also be successful. We would once again

therefore like to thank OBOS for the confidence they have in us and that we can

take part in building an attractive residential environment at Vollebekk," says

Kaare Gilhus, head of department with Veidekke Bygg Oslo.

The whole project will be built as a fossil-free construction site, and the

homes will be certified in accordance with the BREEAM-NOR Very Good

environmental standard. The apartments will be built in a block ranging from

four to eight storeys in height around a common courtyard with a playground.

There will be storage areas and parking for bicycles and cars on two underground

floors. Nine separate commercial premises will occupy the block's ground floor,

and to top it all off, the residents will have large communal roof terraces.

Vollebekk is in situated in eastern Oslo and was for many years known as an

industrial area. This is now changing thanks to a major urban development

project in which large sections will be redeveloped from the ground up. When

completed, the new residential project will comprise around 1,000 homes in total

and some commercial premises. Vollebekk will be a green and urban district just

13 minutes by Metro from Oslo downtown, while at the same time close to scenic

hiking areas and Lillomarka.

Construction is starting now, and occupation is scheduled for the autumn of

2024. More information on the project is available at www.obos.no/vollebekk

For more information please contact:

Kaare Gilhus, head of department with Veidekke, tel. +47 45 03 01 97,

kaare.gilhus@veidekke.no

Helge Dieset, Communications Manager, Veidekke, 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.