Selvaag Bolig ASA - home sales of NOK 1,7 billion in first half

Wed, Jul 01, 2015 07:00 CET

Selvaag Bolig sold 518 residential units with a combined value of NOK 1.71 billion during the first six months of 2015 - its next best half-year performance.

During the second quarter of 2015, Selvaag Bolig sold 210 residential units with a combined value of NOK 693 million and initiated the construction of 199 homes.

The company completed 190 units in this period, and delivered 232 to their buyers. At 30 June, it had 1 394 homes under construction and 31 were completed but unsold.

"Housing sales have been very good so far this year, particularly in Greater Oslo," says CEO Baard Schumann at Selvaag Bolig. "Demand was high while the number of homes on offer was low.

"We're very confident about the housing market in the time to come, and have considerably strengthened our land bank in Oslo over the past six months."

Selvaag Bolig entered into an agreement to buy a site for up to 400 homes at Løren in Oslo during the second quarter, when it also became clear that the company will build a similar number of units at Valle Hovin.

Sales in the first half last year came to 394 homes worth NOK 1.34 billion. The company sold 255 homes with a combined value of NOK 785 million during the second quarter of 2014.

Further information from

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

Sverre Molvik, CFO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail: smo@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.

http://www.selvaagboligasa.no/en

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.