Veidekke: Building More Homes in Stavanger

29 Aug 2025 12:28 CEST

Veidekke has been commissioned to build also the next phase of the residential
project Odden in Hinna Park, Stavanger. The contract is a design and build
agreement valued at NOK 133 million excluding VAT and includes the construction
of a 13-storey residential building with 39 apartments, a parking facility and
outdoor areas.

"We truly appreciate the trust and the opportunity to continue our collaboration
with Odden 1 AS. It gives us great pleasure to maintain continuity and be able
to utilize the synergies and collaboration in such a field development. We look
forward to building on the good foundation we have established together in the
first phase of construction, says District Manager Bendik Aarstad at Veidekke
Bygg Rogaland.

The client, Odden 1 AS, is a partnership between Stavanger Utvikling, Entra,
Camar Eiendom, and OBOS Nye Hjem. Since May 2022, Veidekke has been developing
the residential project in close collaboration with Odden 1 AS and began
construction of the first phase with 56 apartments across three buildings last
summer. The apartments in this second phase will be located right on the
waterfront and will offer a wide variety of layouts, ranging from two-room units
of 44 m² to five-room units of 174 m².

Construction work will begin in October, and the homes are scheduled for
completion and handover in the second half of 2027.

The contract is included in Veidekke's order book for Q3 2025.

For further information, please contact:

District Manager Bendik Aarstad, Veidekke Bygg Rogaland, tel. +47911 93 701,
Bendik.aarstad@veidekke.no (are.westbye@veidekke.no)

Communications Manager Helge Dieset, Veidekke, tel. +47 90 55 33 22,
helge.dieset@veidekke.no

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Veidekke (http://www.veidekke.com/) 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. Its annual
turnover is approximately NOK 41 billion, and 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.

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