Selvaag Bolig ASA - New land purchase for up to 400 homes in Oslo
Selvaag Bolig is planning to build up to 400 residential units at Lørenveien 55-65 in eastern Oslo. The company has acquired land for about 1 350 homes in Oslo and the adjacent Bærum local authority during the first half of 2015. All the sites can be readied for sales in the near future.
"We have great faith in the Oslo area for coming years, and are therefore investing heavily in new sites," says CEO Baard Schumann at Selvaag Bolig.
"Demand for new homes is high, and too few units have been built over time."
The newly acquired land is midway between the district centres of Hasle, Løren and Økern, and in short walking distance from three metro stations, shopping malls and recreation areas.
The land has been awarded planning permission for housing, and will be owned and developed by Selvaag Bolig alone.
"We'll be building flats in all sizes, but the unique position and closeness to public transport mean we'll be giving priority to homes for first-time buyers. Our aim is to have the first units ready for sale in the first half of next year," says Schumann.
The site is currently occupied by a hypermarket, and has been sold by the Stor-Oslo Eiendom property company.
Final closure of the sale is conditional on a satisfactory technical and legal due diligence process between the parties.
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