Veidekke ASA: Veidekke and Selvaag buys Sinsenveien 45-49 in Oslo

Sinsenveien 45-49 is at Løren in Oslo and comprises a site approximately 17,000 square metres in size, which currently comprises commercial buildings. The buildings are currently partly leased and have been owned by a syndicate of 14 owners. Rezoning for housing purposes has already been initiated. Expected takeover is Q1 2015.

"This property has great potential in an attractive area and is a good supplement to Veidekke's housing portfolio in the Oslo area. We are also pleased to develope the project in cooperation with Selvaag Bolig, who also has a strong position in terms of developing the Løren area. We are now starting work on developing the site for housing purposes with around 350-400 units," says Managing Director of Veidekke Eiendom, Emil Paaske.

For more information, please contact:
Managing Director of Veidekke Eiendom, Emil Paaske, tel. +47 958 19 170,Emil.Paaske@veidekke.no
Director of Business Development at Veidekke Eiendom, Audun Blegen, tel. +47 959 79 664, audun.blegen@veidekke.no

Veidekke is one of Scandinavia's largest contractors and property developers. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt, crushed stone and gravel. The company is characterised by involvement and local knowledge. Turnover is almost 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.