Building apartments in Drammen

07 May 2025 13:30 CEST

Betonmast, a subsidiary of AF Gruppen, has signed a contract with Scandinavian
Property Group (SPG) for the construction of 150 apartments in Drammen. The
contract, covering two construction phases, is a turnkey contract with a total
value of 563 million excluding VAT.

SPG plans to build a total of 150 apartments in the Slippen project. The total
development area amounts to 19,300 square meters GFA. Additionally, an
underground parking garage with 115 parking spaces will be constructed.

The project is subject to an approved detailed zoning plan, expected in June.
The start of construction for phase 2, consisting of 69 apartments, is
contingent on sufficient pre-sales.

"After a successful collaboration phase, we now look forward to continuing the
good cooperation with SPG during the execution of this project," says Peter
Sandrup, CEO of Betonmast.

Construction is scheduled to begin in the fourth quarter of 2025, with expected
completion in the fourth quarter of 2027.

For further information:
Peter Sandrup, CEO of Betonmast, Tel.: 915 88 645
Bård Frydenlund, EVP Sweden and Betonmast for AF Gruppen, Tel.: 918 68 621

More information:
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