Betonmast, a subsidiary of AF Gruppen, has entered into a contract with property
developer Balder for the construction of apartments in central Stockholm. The
contract, which is a turnkey contract, has a value of approximately SEK 225
million excl. VAT.

The "Gladan" project includes demolition of the existing office building and
construction of 144 apartments with an associated underground garage on
Kungsholmen. The total area is 12,000 m2. The buildings will be constructed
according to the Nordic Swan environmental certification.

"This is our first project for Balder in the Stockholm region. We look forward
to getting to know the client and to be a part of the exciting development in
central Stockholm", says Jørgen Evensen, CEO of Betonmast.

Engineering will start in Q3 2021, with construction scheduled to start in Q4
2021. The project will be completed in Q4 2023.


For further information:

Jørgen Evensen, CEO of Betonmast, tel.: +47 906 09 310
Bård Frydenlund, EVP Sweden and Betonmast for AF Gruppen, tel.: +47 918 68 621

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© Oslo Bors ASA, source Oslo Stock Exchange