Veidekke ASA: To build new headquarters and apartments at Skøyen

Veidekke has entered into a contract with Norwegian Property (NPRO) to buy Nedre Skøyenvei 24-26 in Oslo, with takeover in March 2019. Veidekke wants to develop the site to build new headquarters for the Group and build several hundred homes.

"Veidekke has long been on the lookout for a project to develop at Skøyen for new headquarters. This property is perfectly suited to developing modern headquarters, and we can also develop and build more than 400 homes in an extremely attractive area. Here we can exploit our expertise both as a construction and property development company, and we also envision contributing to developing Skøyen as a future-oriented city district," says CEO and President Arne Giske.

Nedre Skøyenvei 24-26 is centrally located at Skøyen, one of Norway's largest and fastest-growing traffic hubs. The site is 22,600 m2 in size, and is currently developed for commercial purposes. NPRO will own and manage the existing buildings until takeover in March 2019.

The purchase price is NOK 799 million, of which NOK 749 million is due upon takeover and NOK 50 million is due on entry into contract.

For more information, please contact:
Managing Director of Veidekke Eiendom, Emil Paaske, tel. +47 958 19 170,
SVP Finance Jørgen Michelet, tel +47 917 43 856, 
SVP Communications Grete Nykkelmo, tel +47 913 11 000,

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Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of construction and civil engineering contracts, maintains roads, and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is NOK 24 billion (2014), and half of the 6,400 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.

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


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