Daily Newsletter

03 November 2023

Daily Newsletter

03 November 2023

Skanska secures contract from SiO for student housing project in Oslo

The project will be encompassed within vegetation and a nature setting.

November 03 2023

Construction company Skanska has secured a contract from the Student Welfare Organization in Oslo (SiO) for the construction of a new student housing development at Nordberg Studentby in Oslo, Norway.

The estimated value of this contract is Nkr513m.

Skanska will register the project in its order bookings for the fourth quarter (Q4) of 2023.

The development will consist of three new buildings measuring approximately 18,000m², of five and six storeys that will house a total of 462 student apartments.

The site will feature 417 one-room apartments, nine two-room apartments, and nine community solutions with four dormitories in each unit.

Construction work is anticipated to commence in Q1 2024 and is set for completion in Q3 2026.

The environmentally friendly buildings will replace the existing outdated family houses on the land under the project.

The construction process will begin following the demolition of the current buildings.

SiO chair Stine Johannessen said: “SiO has big plans for Nordberg Studentby. Here we will be able to offer even more students attractive and sustainable housing. The building project is part of the initiative to improve the student housing offer in Oslo.”

The new buildings are being designed by architect A-lab.

The site's design will primarily feature wood, except for the plinth floors and entrance areas, which will include concrete and glass.

The project will have dedicated outdoor areas with vegetation space.

SiO property and sustainability director Birte Almeland said: “Our plan is to start the demolition work on the site in mid-January 2024. The new student housing will be ready for occupancy in August 2026.

“Good meeting places are important for the well-being of our student cities. In the preliminary project, there has been a focus on developing a sustainable project both socially, climate-wise and economically.

“We are planning measures that will reduce the total climate footprint [of the site] by 30% in accordance with FutureBuilt Zero, seen over a lifetime of 60 years.”

South-East Asia Construction Market Dynamics

Per GlobalData analysis, the South-East Asia construction industry in 2023 is dominated by Indonesia, though the country will see a slowdown compared to 2022 due to elevated building material prices, weak commercial property demand, high interest rates and a softening of external demand. The construction industry in the Philippines is estimated to register a AAGR of 7.2% between 2024 and 2027, supported by the government’s focus on the development of the country’s rail and road transport and energy infrastructure.

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