Selvaag Bolig ASA: sold 201 homes for NOK 861 million in third quarter

Selvaag Bolig sold 201 homes worth NOK 861 million in the third quarter, bringing total sales for the first nine months to 619 units with a combined value of NOK 2 509 million.

"The market has been normal throughout the quarter, and we have sold well in all our projects - particularly in Greater Oslo. Signs of a market improvement can also be seen in the Stavanger area, and we believe this trend will continue," says CEO Olav Selvaag.
"Household purchasing power is high, and demand for homes remains strong. We have attractive housing projects with good locations in all the markets where we're making a commitment."

Net sales adjusted for Selvaag Bolig's share of joint ventures came to 182 homes worth NOK 771 million for the third quarter. Construction started on 102 homes, 117 were completed and 126 were delivered to the buyer. At 30 September, the company had 1 488 homes under construction and 12 completed but unsold units.

Selvaag Bolig began work on 438 homes during the first nine months of the year, completed 413 and delivered 428 to the buyer. Net sales for January-September came to 547 homes worth NOK 2 215 million.

During the third quarter of 2017, Selvaag Bolig's sales amounted to 207 homes worth NOK 843 million gross and 178 homes worth NOK 684 million net.

Further information from
Olav H Selvaag, CEO, Selvaag Bolig ASA
Telephone: +47 901 67 388, e-mail: ohs@selvaagbolig.no

Sverre Molvik, CFO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no

Kristoffer Gregersen, vice president communications and market, Selvaag Bolig ASA