AF Gruppen has entered an agreement with Nygård Boligutvikling Holding AS owned
by Fredensborg Bolig AS, to build Kværnerhøyden consisting of 71 apartments
distributed on two apartment blocks of 12 and 5 floors and a townhouse.  

Kværnerhøyden is localized on Nygårdshøyden by Svartdalsparken in Oslo.
Kværnerhøyden consists of 71 apartments distributed on two blocks of 12 and 5
floors, with an underlying parking basement, roof top terraces and a townhouse,
all with brick facades. The existing industry will be transformed to an
attractive living area with green public facilities that integrate Kværnerhøyden
in the public surroundings amongst Alnaelven. 

The project will be carried out as a design and build contract with a value of
approximately MNOK 150 ex. VAT. The apartments are near fully sold out,
engineering will start in Q2 and construction is scheduled from Q3 2021. The
project consists of one building step with expected completion Q2 2023.

- We have had a long collaboration with Fredensborg Bolig to enable the project
and we are looking forward to contributing in transforming this existing
industry area to the beautiful residential area that is being planned. The
project fits well with our strategy for sustainable projects. It is also
pleasant to enter into the first contract with a new, large and long-term client
such as Fredensborg Bolig, says Tormod Solberg, EVP at AF Gruppen.

For further information: 
CEO: Amund Tøftum, tel. +47 920 26 712
EVP Building: Tormod Solberg, tel. +47 950 59 495

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© Oslo Bors ASA, source Oslo Stock Exchange