Selvaag Bolig ASA - Selvaag Bolig to build at Valle Hovin

Up to 400 homes are to be built by Selvaag Bolig at Valle Hovin in central Oslo. The first units could be ready for sale in late 2015.

"This is an incredibly exciting project in the heart of one of Oslo's most important development areas. These homes will stand right next to the new Vålerenga football stadium at Valle Hovin, which is set to become a centre for sports in the capital," says chief executive Baard Schumann

"All the homes will have a fantastic location, close to the city and in walking distance both of the metro system and bus services. We'll be building flats of all sizes, but giving priority to first-time buyers," he says.

The site is the residential component of a land agreement between the City of Oslo and Vålerenga Football, and has been acquired by Selvaag Bolig for NOK 220 million.

Execution of the whole project is conditional on approval being given by the Efta Surveillance Authority (ESA) for the city's agreement with Vålerenga.

Covering 1.32 hectares, the site has planning permission and will accommodate up to 400 homes divided between four buildings of three to 10 stories.

Selvaag Bolig has purchased sites in the Oslo area for a total of roughly 900 homes during recent months. The purchase of the Valle Hovin site has already been mentioned in Selvaag Bolig's Q4 2014 report as "project in central Oslo".

Foto: Nyebilder.no. Editorial use only.
 

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.