Selvaag Bolig ASA - brownfield development in Oslo

Press release

Photo attached at end. Credit: Nyebilder.no

Up to 350 homes are to be built by Selvaag Bolig at Kjelsåsveien 161 in Oslo, on the 1.6 hectare site of the former Tandberg radio factory which is now being reclassified for residential use.

"Offering unique views, this site lies on the edge of the city in the highest part of Frysja, one of Oslo's most attractive residential areas," says Selvaag Bolig CEO Baard Schumann.

"It's close to fantastic recreational facilities and to public transport by tram and bus, which takes you to the centre of town in 15 minutes."

The former radio factory began operation in 1951, and planning permission for the site will now be amended to permit the development of about 22 000 square metres of housing.

"We'll be building flats of all sizes, but the unique location means we intend to give priority to family homes," says Schumann.

The seller is a company established by Union Gruppen.

Land in Greater Oslo able to provide some 1 700 new homes has been acquired by the company so far in 2015. Sales have already begun for the first projects on these sites.

Further information from
Baard Schumann, CEO, Selvaag Bolig ASA
Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no

Kristoffer Gregersen, CCO, Selvaag Bolig ASA
Telephone: +47 957 75 593, e-mail: kgr@selvaagbolig.no

Selvaag Bolig ASA is a residential property developer controlling the entire value chain from acquisition of land to sale of homes. The company has several thousand homes under development at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig represents a continuation of Selvaag's 60-year history and experience, and offers a broad variety of property types marketed under the brand names Start, Hjem and Pluss. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en