Selvaag Bolig ASA: Better sales of new homes in all markets

Selvaag Bolig sold 216 homes with a combined value of NOK 788 million in the first quarter.

"It's gratifying to see that the market for new homes is recovering as we expected. The shift has come even earlier than we thought," says CEO Baard Schumann.

"Interest is substantially higher than in the second half of 2017, and sales in February and March have been steady and good in all our projects. We occupy a strong position in the markets where we're making a commitment, and we take a positive view of future developments."

Construction started for 102 homes, 54 were completed and 59 were delivered to their buyer. At 31 March, the company had 1 511 homes under construction and 19 completed units still unsold.

Adjusted for Selvaag Bolig's share of joint venture projects, sales in the first quarter came to 185 homes with a value of NOK 693 million.

The company sold 190 homes with a combined value of NOK 984 million in the first quarter of 2017. Gross sales for that period were 238 homes.

Further information from
Baard Schumann, CEO, Selvaag Bolig ASA
Telephone: +47 940 80 000, e-mail:

Sverre Molvik, CFO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail:

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 70-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.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.