Oslo S utvikling (OSU) has selected Veidekke as design and build contractor for
the Mariakvartalet residential project in Bjørvika. The construction contract is
worth more than NOK 1 billion and will be started when sufficient sales have
been achieved.

Mariakvartalet will comprise 245 apartments, a kindergarten, shops, restaurants
and cultural offerings. Currently, archaeological excavations are being carried
out on the site, which is centrally located between Clemenskvartalet and the
green public space Kongsbakken in Bjørvika. Sales are scheduled to start in Q2
2023.
Valuable input
"OSU is very pleased to sign the contract with Veidekke, which is the largest
construction contract ever for OSU. Veidekke is considered to have submitted the
best offer, and has contributed good input for added value in the contract
negotiations. At the same time, they are capable of meeting our high demands
towards quality and sustainability in our projects," says Jostein Ådalen,
project director with OSU.

OSU is behind many of the developments in Bjørvika, including Barcode and the
Vannkunsten residential project that recently won the 2021 Building of the Year
Award. Veidekke has previously been involved in a lot of construction in
Bjørvika, including the Opera, Munch Museum, Diagonale and the Sørengstranda
residential project.

High environmental requirements
"We would like to thank Oslo S Utvikling for the confidence they have shown in
us and for the commission. Building good environmentally certified homes with
high sustainability goals is something we are especially appreciative of. We
have concluded a phase where we have developed the project together and are
ready to start building, which is planned in the course of the year," says
Director Anders Haugen of Veidekke Bygg Oslo.

Mariakvartalet has been designed by Lund+Slaatto Arkitekter, who are behind the
award-winning Munch Brygge in Bjørvika, among other things. All of the homes
from OSU will be certified as Very Good in accordance with the BREEAM-NOR
manual. In addition, greenhouse gas emissions will be reduced by at least 20%,
the construction site will be fossil-free and with strict requirements for waste
sorting and waste minimization.

The contract for Mariakvartalet is NOK 1.037 billion excluding VAT. The contract
sum will be included in Veidekke's order book when sufficient sales for starting
have been achieved. Click here (https://osu.no/prosjekter/mariakvartalet) to
read more about the project.

For further information, please contact:
Head of department Morten Barreth of Veidekke Bygg Oslo, tel. +47 93 88 37 16,
morten.barreth@veidekke.no
Communications Manager Helge Dieset, Veidekke, tel. +47 90 55 33 22,
helge.dieset@veidekke.no
Project director Jostein Ådalen of OSU, tel. +47 950 48 489, ja@osu.no

Veidekke's press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028
-Pressebilder-Veidekke/)
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Veidekke is one of Scandinavia's largest construction companies. 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 approximately NOK 38
billion, and half of its 7,800 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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© Oslo Bors ASA, source Oslo Stock Exchange