Veidekke ASA : Veidekke to build more homes in Hagebyen at Fornebu

Veidekke Entreprenør has entered into a contract with Veifor AS to build stage two of the housing project Hagebyen at Fornebu. The stage comprises 115 homes and cellar parking, and building has already started. In total Veidekke is currently building 224 homes in Hagebyen with a total sale value of more than NOK 1 billion.

The first homes in Hagebyen went on sale in October 2011, and more than 170 have already been sold. A total of 345 homes will be built in the project, ranging from 2-room flats to terraced houses with a floor space of 134 square metres. The first Hageby residents can move in in the third quarter next year.

"In Hagebyen we have homes for first-time homeowners, families with children and those who wish to exchange their family home with a more practical flat. The combination of attractive private and common outdoor areas, a unique location close to the sea and natural surroundings, and just a short bus trip from the city, has been Hagebyen's recipe for success," says Anders Holmlund,  Project Manager for Hagebyen with Veidekke Eiendom.

"We have very good experience with Veidekke Entreprenør from the first stage in Hagebyen, and we are pleased to extend our cooperation," says Project Director Jørgen Stavrum of Fornebu Utvikling.

Stage two will include flats ranging in size from 47 to 100 square metres, terraced flats and penthouse flats over two storeys of 105 sqm and 91 sqm respectively, as well as three-storey terraced houses. All homes will have a garden, terrace or balcony. Hagebyen is being developed by Veifor AS, owned 50-50 by Veidekke Eiendom and Fornebu Utvikling. Fornebu Utvikling is a wholly-owned subsidiary of OBOS.

More information on Hagebyen at Fornebu is available her: www.hagebyen.no 

For more information please contact:
Project Developer Anders Holmlund with Veidekke Eiendom, tel +47 99 56 22 65,  anders.holmlund@veidekke.no
Project Director Jørgen Stavrum with Fornebu Utvikling, tel +47 99 10 94 03 , jos@fornebuutvikling.no Communications Manager Helge Dieset of Veidekke, tel +47 21 05 77 91/+47 90 55 33 22, helge.dieset@veidekke.no

Veidekke is one of Scandinavia's largest contractors with 6,100 employees and a turnover of NOK 18 billion (2011). Activities include building and construction projects, residential developments, asphalt plants, gravel and aggregates, and road maintenance. Our values are professional, honest, enthusiastic and pioneering. Our goals for health, safety and the environment, HSE, have equal status with our financial goals.  Veidekke is characterized by a decentralized organizational model with a strong corporate culture and a high degree of employee involvement. Over half the employees are co-owners, holding slightly more than 20% of Veidekke's shares between them. The company is listed on the Oslo Stock Exchange and has never declared a loss since it was founded in 1936.

Fornebu Utvikling is developing Fornebulandet, which is currently Norway's largest development project. A total of 6,300 homes are planned, including flats, terraced houses and detached houses. Fornebu Utvikling is a subsidiary of OBOS.

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