K2 Bolig AS has awarded Veidekke the contract to build the Madla Tress
residential project. The project comprises 39 apartments and retail premises at
Madla in Stavanger. The contract is a design and build contract valued at NOK
106 million, excl. VAT.

The Madla Tress project consists of three apartment buildings with apartments
ranging in size from 45 to 165 m[2] gross area. On the ground floor there will
be retail premises that will include a Coop Extra grocery store, a guest bedsit
and function rooms. The basement will include storage spaces and private and
public parking.
"Veidekke has extensive and good experience with carrying out construction of
housing projects of this scale. This is an great project in one of Stavanger's
most attractive districts. We would like thank to K2 Bolig for the contract and
are looking forward to getting started on construction work," says director Are
Westbye of Veidekke Bygg Business District Syd.

The project has been well-received in the market, and to date 27 apartments have
been sold.

"In our project we have emphasised developing homes of high architectural
quality and good homes with a good living environment, that we call homes
according to the K2 Bolig standard. Start of construction has been approved, and
home buyers will be a part of a safe and predictable journey from purchase to
occupation," says general manager Sigve Hebnes of K2 Bolig.

Construction is planned to start just before Christmas, and the homes are
scheduled to be ready for occupation in the final quarter of 2023. More
information on the project is available here: https://madlatress.no/


For more information please contact:
Are Westbye, director of Veidekke Bygg Business District Syd, tel. +47 900
78 433, are.westbye@veidekke.no
Sigve Hebnes, general manager of K2 Bolig AS, tel. +47 911 42 921, sh@k2
-bolig.no
Helge Dieset, Communications Manager of Veidekke, tel. +47 90 55 33 22,
helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest contractors. The company undertakes all
types of construction and civil engineering contracts, maintains roads, and
produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and
local experience. Its annual turnover is approx. NOK 38 billion, and around half
of its 8,100 employees own shares in the company. Veidekke is listed on the Oslo
Stock Exchange, and has posted a profit every year since its inception in 1936.

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