Veidekke to build Frysjaparken for Stor-Oslo Eiendom

Veidekke Entreprenør AS has been contracted to build the first phase of Frysjaparken in Oslo, which consists of 169 apartments in three blocks. Frysjaparken is owned by OBOS Nye Hjem AS, Stor-Oslo Eiendom and others. Stor-Oslo Eiendom has been responsible for the project management and development of the new housing project, which upon completion will consists of more than 900 apartments and some commercial units. The design and build contract is valued at NOK 413 million, excl., VAT. A letter of intent has also been signed concerning the development and execution of the next phase, which consists of around 220 apartments.  

"We are proud and pleased with the confidence Frysjaparken, via Stor-Oslo Eiendom, has shown in us. Frysjaparken is a big project with good opportunities for rationalising and industrialising the construction process. The project is a good fit with respect to both our competence as a house builder and the development of our continuous improvement work. We are pleased to have signed this contract and look forward to breaking ground," says project manager Morten Barreth.

Veidekke won the contract against competition from a number of major contractors. This is the first time Stor-Oslo Eiendom has signed such a contract agreement with Veidekke Entreprenør AS.

"The tender submitted by Veidekke was clearly the most advantageous from a commercial perspective. They also proved very good at understanding the needs of the builder and adapting to these. We hope and believe that the contract will be executed with the same positive team spirit shown during the contract negotiations," says Stor-Oslo Eiendom's director of development, Arne Brovold.

Frysjaparken has for many years been known as an industrial area in the district of Nordre Aker. This is now about to change thanks to a major urban development project in which large sections of the area will be redeveloped from the ground up. Frysjaparken will become a green, urban area close to the forested green belt. Veidekke will build a varied range of high-quality, well laid out apartments.

The project will also focus on designing a good outdoor environment that encourages activities for people of all ages and acts as a communal social area for residents. Green, screened-off courtyards with recreational areas, parks, roof gardens and areas for socialising will be created between the buildings.

Demolition work has commenced, while the actual construction work will start after the New Year in 2018. The plan is for the project to be ready for occupancy in the second half of 2019. For more information about the project: http://www.soeiendom.no/prosjekt/project/frysjaparken-utvikling/

For press photos, see www.flickr.com/photos/veidekke, for more information, contact:


Project manager Morten Barreth, Veidekke Entreprenør, mob. +47 938 83 716, morten.barreth@veidekke.no
EVP Finance Jørgen Michelet, Veidekke ASA, mob. +47 917 43 856, jorgen.michelet@veidekke.no
Project manager Nikolai Olsen, Stor-Oslo Eiendom, mob. +47 934 10 777, nikolai@soeiendom.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 civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Its annual turnover is NOK 30 billion and around half of its 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.