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07 November 2023

Daily Newsletter

07 November 2023

Veidekke to complete Mariakvartalet project’s basement

Once finalised, the basement will encompass storage rooms along with car and bike storage space.

November 07 2023

Oslo S Utvikling (OSU) has appointed Veidekke to deliver the basement of the eco-certified housing project Mariakvartalet in Bjørvika, Oslo, Norway.

The estimated value of this contract is Nkr116m ($10.41m), excluding VAT.

Designed by Norway-based architect Lund+Slaatto Arkitekter, Mariakvartalet will have 246 apartment units, a primary school, restaurants, and cultural amenities.

According to Building Research Establishment Environmental Assessment Method-NOR (BREEAM-NOR) guidance, the houses will be rated ‘Very Good’.

Furthermore, greenhouse gas emissions will be minimised by at least 20%, the building site will be fossil-free, and strict rules for separation at source and waste minimisation will be in place throughout the process.

Veidekke received a Nkr260m contract to construct the first phase of the basement at the end of May this year.

The new contract will see the completion of the basement, which will include storage rooms, as well as bicycle and car parking.

OSU project manager Jostein Ådalen said: “We have experienced a great deal of interest in Mariakvartalet and have sold more than 60 apartments in recent weeks.

“This sales success means that we are on track with the project and can put the next sales stage on the market as early as before Christmas.

“OSU has high demands towards both quality and sustainable solutions, and Veidekke has shown that they understand our goals and have the expertise to implement our ambitious plans.”

Veidekke will register this project in its order bookings for the fourth quarter of 2023.

The contract between Veidekke and OSU for the complete Mariakvartalet project is valued at approximately Nkr1bn, excluding VAT.

Investment in the infrastructure and energy & utilities sectors remains a major driver of overall construction growth

Infrastructure and Energy & Utilities sectors expanded in 2020 despite COVID-19 disruptions, which reflected the efforts by governments and public institutions to accelerate investment to stimulate activity. The recovery from the pandemic and the easing of restrictions allowed the resumption of work on major projects in 2021, and growth is set to remain strong in the coming years, particularly given major investment programs in the US and China.

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