Soon families can land at Fornebu

Veidekke Eiendom AS and Fornebu Utvikling ASA have today entered into an agreement to develop around 300 homes for families in the centre of Fornebu "We hope to begin sales in a year and people can start moving in at the end of 2012," says Terje Venold, president & CEO of Veidekke and Morten Grongstad, managing director of Fornebu Utvikling.

"We are very pleased to have a large, professional builder like Veidekke on this project. We have developed a concept together that should be just right for families. 110 of the homes will have their own gardens and there will be large, well screened play areas. And these are homes for families with a normal budget, with apartments in terraced buildings from NOK 3.5 million," explains Grongstad.

"Veidekke has been following developments at Fornebu closely, and we believe this is the right time to get involved. We also have great faith in this concept of homes for families. Conditions for families are very good here at Fornebu, even though no others have focused on this segment yet," says Venold.

The 309 homes will be built on sites 8.6 and 8.7, between the Rolfsbuktveien/Snarøyveien crossroads and Nansenparken. The development will consist of 2-3 storey terraces and blocks of 4-5 storeys. Residents will have direct access to parks and will be close to kindergartens and schools.

There are two local centres very close by, with Storøya primary school and kindergarten and Hundsund junior school and kindergarten. Hundsund also has a sports centre with swimming pool, gymnasium, football pitch with artificial grass and a skating rink in winter. And beaches like Rolfstangen, Haldenbukta and the new Storøyodden are only a short distance away.

The regulating architects are Spor Arkitekter and the project managers are Emil Paaske of Veidekke Eiendom and Rena Flåteteigen of Fornebu Utvikling. The company Veifor AS has been set up specifically for this project and is owned 50/50 by Veidekke and Fornebu Utvikling.

For more information please contact:

Project Developer Emil Paaske of Veidekke Eiendom,

tel. 21 05 76 60/ 95 81 91 70, emil.paaske@veidekke.no

Communications Manager Helge Dieset of Veidekke,

tel. +47 21 05 77 91 / 90 55 33 22, helge.dieset@veidekke.no

Project Manager Rena Flåteteigen of Fornebu Utvikling, tel. 97 72 91 09, rfl@fornebuutvikling.no

Communications Director Anne Grete Ellingsen of Fornebu Utvikling,

tel. 91 53 70 79, age@fornebuutvikling.no

Veidekke ASA is a leading Scandinavian building contractor and property developer with 6,000 employees and turnover of NOK 15.6 billion (2009). The group is listed on the Oslo Stock Exchange and has a dispersed ownership structure with the employees owning 19.3 % of the stock. The business spans a wide spectrum of building and construction projects, developing housing and commercial buildings for private and public sector clients, asphalt plants and road maintenance as well as collecting and recycling waste.