AF Gruppen has signed an agreement with KLP Eiendom to build the Nora project in
Bislett, Oslo. The project includes the demolition of existing buildings and the
construction of 165 apartments, as well as parking garages and commercial areas
at Pilestredet 75. The contract is a turnkey contract with a value of NOK 906
million excluding VAT.

The agreement includes the demolition of existing buildings, the restructuring
of technical infrastructure, and the construction of new buildings covering
approximately 28,000 square meters. The project will include 2-5 room apartments
ranging from 35 to 190 square meters with good qualities and approximately 7,300
square meters of commercial space. The roofs will be used as recreational areas
with vegetation and will include facilities such as outdoor kitchens and
greenhouses. The buildings will have an elaborate facade with extensive
brickwork, and the building will achieve the BREEAM certification "Very good".

The project will further enhance the attractiveness of the area by replacing
outdated and old buildings with a new and modern building in line with today's
standards for environmental, energy efficiency, and architecture. Detailed
planning and preparatory work for the demolition will begin immediately, and
completion is expected by the end of 2027.

"We are very pleased to have received an order for this great housing project.
We have gone through an extensive collaboration phase where both KLP Eiendom and
AF Gruppen have worked well with the project. The project's location, land
conditions, size, and high standards make the project attractive and exciting
for AF Gruppen. We look forward to starting the implementation of the project in
close collaboration with the client," says Amund Tøftum, CEO of AF Gruppen.


For further information: 

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