Selvaag Bolig ASA - sold homes for NOK 3.2 billion in 2015
Selvaag Bolig ASA sold 209 residential units with a combined value of NOK 751 million in the fourth quarter of 2015. Totals for the full year were 935 homes worth NOK 3 214 million.
"We're very pleased that we sold more homes than in 2014 despite the fact that the Stavanger market came to a standstill," says CEO Baard Schumann at Selvaag Bolig. "Housing sales have been steady and good throughout the year. That shows we have attractive projects in the right places.
"We expect these regional variations to persist, but are optimistic about 2016. It will take time for the Stavanger market to recover, but population growth and demand for new homes is high in all the markets we operate. Greater Oslo, where almost 80 per cent of our portfolio is concentrated, also suffers from a significant gap between supply and demand. This could result in significant price growth."
Selvaag Bolig initiated the construction of 171 residences during the fourth quarter. The company completed 258 units, and 235 were delivered to their buyers.
Sales for 2015 as a whole amounted to 935 homes worth a combined NOK 3 214 million. The construction of 858 units was initiated, 828 were completed and 893 were delivered to buyers. At 31 December, the company had 1 339 homes under construction and 65 which were completed but unsold.
Selvaag Bolig sold 233 homes with a total value of NOK 795 million in the fourth quarter of 2014, and 886 with a combined value of NOK 3 049 million for the year as a whole. It had 1 308 homes under construction at 31 December 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.
www.selvaagboligasa.no/en