Scandinavian contractor Veidekke has been awarded a contract by Miami-based investment company HIG Capital to convert an office building into a hotel in Stavanger, Norway.
The project, valued at more than Nkr125m ($10.9m) excluding VAT, involves the transformation of the current structure into Hotell Hinna, which will offer 181 rooms.
Veidekke Bygg Rogaland district manager Bendik Aarstad said: “We greatly appreciate the confidence shown in us and are looking forward to starting the construction work.”
“We strongly believe that such conversion projects will become an increasingly important part of our business, especially with today’s climate and sustainability perspective in mind. This is therefore an important focus area for Veidekke. In addition, having another project just outside our own office window is particularly motivating.”
The office building, located at Jåttåvågveien, spans eight floors with a basement and was originally completed in 2012.
The conversion will include comprehensive internal alterations and modifications to parts of the façade.
The new hotel, covering 9,000m², will cater to both hotel guests and the local community.
Construction work is set to commence in February 2025, with completion targeted for spring 2026.
Anvil Asset Advisors partner and co-CEO Nils Christian Fixdal, HIG Capital’s operating partner on their portfolio in Stavanger, said: “We conducted a tender process in the spring of 2024 that Veidekke won. Their constructive contribution in the interaction phase makes us optimistic that the project is in good hands now that we are entering the design and build phase.”
“We’re looking forward to the hotel opening in 2026 as a positive addition to Hinna Park, and also to our office project at the neighbouring Avant property. Combined, this will be a complete conversion of what previously was Aker’s headquarters in Stavanger, from a single-user building to a modern complex with services from hotels to offices as well as several exciting dining concepts on the ground floor.”
This hotel conversion project is now part of Veidekke's order book for the first quarter of 2025.
In January 2025, Veidekke was awarded a Nkr190m ($16.9m) contract to build the first phase of the Eikeparken housing project in Stavanger.
