Veidekke ASA: Veidekke acquires Grensesvingen 9

Wed, Mar 15, 2017 18:00 CET

Veidekke has reached agreement with Auris Eiendomsinvest I AS and Auris Holding AS to buy Grensesvingen 9 at Helsfyr. Veidekke wants to redevelop the site to build around 200 homes.

Veidekke has a land bank of over 2,500 units in Oslo, and is once again looking for new locations around Ensjø and Helsfyr. Grensesvingen 9 fits in well with Veidekke's portfolio, and the plan is to develop the property along with the neighbouring plot, Grenseveien 97, to build around 400 new homes in an area that is in tremendous growth. The objective is to be able to sell the first homes in 2020.

"We are very happy to close this deal, and along with the neighbouring plot at Grenseveien 97, which we bought earlier, we will be able to develop a very attractive housing project," says Regional Director Anders Holmlund. "Grensesvingen 9 is centrally located in Helsfyr, one of the fastest growing transformation areas in Oslo, and will be very attractive for new housebuyers", Holmlund continues.

The plot size is 7,500 m², and is currently occupied by a multi-user office and combination building of approx. 11,500 m² BTA. The acquisition is subject to satisfactory due diligence for Veidekke Eiendom AS of the company, property and management.

For press photos, go to www.flickr.com/photos/veidekke, for more details, please contact:
Regional Director Anders Holmlund, Veidekke Eiendom, tel. +47 99 56 22 65, anders.holmlund@veidekke.no
Director for Strategy, Audun Blegen, Veidekke Eiendom, tel. +47 95 97 96 64, audun.blegen@veidekke.no
Finance Director, Jørgen Michelet, Veidekke ASA, tel. +47 917 43 856, jorgen.michelet@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is NOK 30 billion (2016), and half of the 7,400 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.