Selvaag Bolig ASA: Buys land for 420 homes in Oslo and Stockholm

Selvaag Bolig has acquired three sites in Oslo and Stockholm which can collectively accommodate about 420 homes. The first of these could be ready for sale in 2021-22.

“We’ve been selling homes at a rapid pace during the fourth quarter and expect to go on doing so,” reports CEO Sverre Molvik. “Although we have a solid land bank, we’re therefore working continuously to acquire attractive development properties.

“That applies particularly in Oslo and Stockholm, which both have a big need for new housing driven by high population growth and urbanisation, as well as insufficient construction over time.”

The Oslo site at Lilleakerveien 47 in the western part of the city could yield some 150 units, with sales starting in 2021-22.

In Stockholm, the land acquired is in the Slakthus area and at Årstafältet in the Söderort transformation district. These will have the capacity for about 150 and 120 homes respectively.

“All the sites are very well positioned,” explains Molvik. “The Lilleakerveien project will be first off the blocks, and we expect to start sales there in late 2021 or early 2022.

“Provisionally, it extends over eight properties covering a total of one hectare and will provide both flats and commercial premises.

“This area is close to public transport, between the Lilleaker and Sollerud tram stops and immediately adjacent to the bus stop in Lilleakerveien.

“Our plans involve homes built to a high standard, and most of the flats will have a fantastic view.”

Further information from

Sverre Molvik, CEO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no

Kristoffer Gregersen, vice president communications and market, 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 70-year history and experience, and offers a broad variety of property types. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en