Selvaag Bolig ASA: Q3 2013 - Sold homes worth NOK 625 million during the third quarter
"Demand for new homes remains high, but the market is more hesitant than in the first half," says CEO Baard Schumann.
"We're experiencing relatively good demand for homes in the NOK two to four million price segment, but it's become harder to sell more expensive residences."
Selvaag Bolig started sales during the third quarter for 343 homes in and around Greater Oslo and Stavanger, and began construction of 335 homes in the period.
The company completed 188 units, of which 176 were delivered to the buyer. Three of the twelve completed units not delivered to the buyer have been sold.
In addition, eleven units completed in earlier periods were delivered in the third quarter. At 30 September, the company had 22 unsold homes which had been completed.
Selvaag Bolig sold 303 homes with a combined value of NOK 966 million during the third quarter of 2012, and had 993 units under construction at 30 September last year.
Further information from
Baard Schumann, CEO, Selvaag Bolig ASA
Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no
Haavard Rønning, CFO, Selvaag Bolig ASA
Telephone: +47 400 20 019, e-mail: hroe@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 construction at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen and Stavanger. 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 Løren in Oslo.
www.selvaagbolig.no/investor
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.