Selvaag Bolig ASA - Housebuilding sites acquired
Two properties covering 15.5 hectares purchased by Selvaag Bolig ASA at Ballerud and Avløs in Bærum local authority outside Oslo will provide space for building about 1 000 new homes.
"This is a fantastic opportunity both for Bærum and for our company," says Baard Schumann, chief executive of the Norwegian housebuilder.
"This local authority is an important priority area for us, and is short of dwellings. Both sites have a very attractive location, close to public transport and other infrastructure."
Selvaag Bolig has expressed a long-term goal of delivering 1 500 homes per year, and is working continuously to find new land in attractive areas.
"We have achieved substantial sales of houses this year, so it is important for us to fill up our stock of good new sites," says Mr. Schumann.
"These acquisitions are in line with our land purchase strategy. We negotiate with landowners concerning the acquisition of sites conditional on planning permission for housebuilding.
"We take responsibility for securing such permission for the project, and can thereby optimise it on the basis of our various housing products."
The properties acquired on this occasion form part of the Avløs and Ballerud farms, and cover nine and 6.5 hectares respectively. Contracts with the landowners were signed this week.
According to these agreements, the purchases are conditional on the land being rezoned for housing. Settlement for and transfer of the land will take place when planning permission has been obtained. Construction will begin in 2016 at the earliest.
For further information, please contact:
Baard Schumann, CEO, Selvaag Bolig ASA
Mobile: +47 940 80 000, e-mail: bas@selvaagbolig.no
Haavard Rønning, CFO, Selvaag Bolig ASA
Mobile: +47 400 20 019, e-mail: hroe@selvaagbolig.no
About Selvaag Bolig:
Selvaag Bolig ASA is a residential developer that provides different housing
concepts to suit aspirations of different households in and around main cities
in Norway and over time in selected cities in Scandinavia. The Company's prime
focus is the Greater Oslo area, Stavanger, Bergen and Stockholm; areas with
large and growing populations. The Company acquires and develops new residential land plots, and controls the entire value chain from acquisition of the land plots to the sale and delivery of the residential units. The Company targets a delivery of 1,500 residential units per year, and has a land portfolio on which
it can develop approximately 9,000 residential units. Selvaag Bolig targets
broad customer groups through the residential living concepts Selvaag Start,
Selvaag Hjem and Selvaag Pluss. The Company is headquartered at Løren in Oslo.