The Anker Foundation has commissioned Veidekke to rehabilitate and rebuild an
apartment building in Oslo centre from offices to almost to 100 student bedsits
with common rooms. The commission is a design and build contract with a value of
NOK 163 million, excluding VAT.

"There is a great need for student housing in Oslo, so this is a construction
project that will have a great impact in the years to come. We are very pleased
to have been selected to convert a somewhat worn office building into a state-of
-the-art block of bedsits with common amenities. We would like to thank The
Anker Foundation for the commission," says department manager Rune Andersstuen
with Veidekke Bygg Oslo.

The current office building in Platous gate was built in 1964 and is about 6,000
square meters across six floors plus basements. The external walls will be
insulated, all windows will be replaced, the sixth floor will be extended, and a
common and two private roof terraces will be built. When everything is finished,
there will be 99 student bedsits from the second to the sixth levels, while
there will be commercial and hospitality spaces on the ground floor and a common
room for the students. In the basement there will be technical rooms, bike
parking, laundry, gym, a cinema room for the residents and storage rooms.

- This will be a nice addition to our portfolio of 1,800 student housing in
central Oslo. Because the housing situation for students in Oslo is more
demanding than ever, we choose to start this project even though the project
finances are challenging. In the past, we have rented out our apartments at the
same rent as SiO, but here we have to use market rent as a basis because
unfortunately our projects no longer qualify for housing bank loans (or
government support). We are therefore pleased that the settlement in connection
with the revised national budget now provides for non-commercial student housing
players like us to be able to get housing bank loans, says managing director
Svein Hov Skjelle in The Anker Foundation (https://anker.oslo.no/).

Construction work starts after the summer holidays and completion is scheduled
for 2025. The contract is included in Veidekke's order book for Q2 2024.

For further information, please contact:
Head of department Rune Andersstuen, Veidekke Bygg Oslo, tel +47 91 83 33 80,
rune.andersstuen@veidekke.no
Communications Manager Helge Dieset, Veidekke, tel +47 90 55 33 22,
helge.dieset@veidekke.no
Managing Director Svein Hov Skjelle in The Anker Foundation, tel +47 93 05 55
66, svein@anker.oslo.no

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Veidekke (http://www.veidekke.no) is one of Scandinavia's largest contractors.
In addition to undertaking all types of building and civil engineering
assignments, the group also maintains roads and produces asphalt and aggregates.
Veidekke emphasises stakeholder involvement and local experience. Annual
turnover is approx. NOK 43 billion, and almost half of its 8,000 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.