Selvaag Bolig ASA - will develop central Fornebu

Press release

Photo attached at end

Selvaag Bolig ASA has acquired the Koksa area - Fornebu's future downtown - with Trond and Frederik Mohn. Covering more than eight hectares, this site will be the centre of the local town with a metro terminus, up to 2 000 homes and commercial buildings.

Koksa is defined as the central area by the planning team for Fornebu, and ranks as one of the most important and urban development sites in the Oslo region. The homes to be constructed will have a combined sales value of more than NOK 10 billion.

"Work here will make a significant contribution to future sustainable urban development in the Oslo region, bind Bærum local authority together with Oslo and turn Fornebu into a new local town," says Baard Schumann, CEO of Selvaag Bolig.
           
"We'll be building an entirely new city district and a completely new centre, which residents of both Oslo and Bærum can take pride in.

"Homes, infrastructure and outdoor areas will be completed to a high standard, and we're looking forward with great pleasure to getting started on this job."

Existing buildings on the site comprise four hangars, workshops and warehouses from the days when Fornebu was an airport.

Assuming the planning process follows its intended course, the first homes in the Koksa area are set to be ready for sale in 2020.

The project will be developed by Selvaag Bolig in a 50-50 joint venture with the Mohn family. The site has been sold by Koksa Eiendom.

Further information from
Baard Schumann, CEO, Selvaag Bolig ASA
Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no

Kristoffer Gregersen, Vice president communications, 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