Selvaag Bolig ASA - sales record for Selvaag Bolig

Selvaag Bolig ASA sold 280 homes with a total value of NOK 1.1 billion during the first quarter of 2016. The turnover was the highest in the company's history.

''In Greater Oslo particularly, where we have a substantial market share, very few homes are available for sale while demand is high,'' comments CEO Baard Schumann.

''That has resulted both in good sales and a substantial rise in the average price of our homes. Sales have also been good in Trondheim and Bergen.''

The average price per home achieved by the company was NOK 3.9 million. Construction starts totalled 230 units during the quarter, 183 homes were completed, and 179 were delivered to the buyer.

Selvaag Bolig had 1 386 homes under construction at 31 March, while 58 completed units remained to be sold.

Sales in the first quarter of 2015, the company's previous record, totalled 308 homes with a combined value of NOK 1.02 billion. That gave an average price per unit of NOK 3.3 million.

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.

www.selvaagboligasa.no/en