Construction and civil engineering company Veidekke has secured a significant design-and-build contract from Odden 1 for the initial stage of the Odden residential project in Hinna Park, Stavanger, Norway.
The contract has an estimated value of Nkr208m ($19.2m), excluding VAT.
It is seen as a substantial addition to Veidekke's order book for the second quarter of the current financial year.
The Odden residential project entails the construction of a total of 56 environmentally certified apartments spread across three buildings, along with a parking facility.
This development is a collaborative effort involving Stavanger Utvikling, Camar Eiendom, Entra, and OBOS Nye Hjem, all operating under the company Odden 1.
Under the first stage of construction, Veidekke will be responsible for developing three buildings ranging from five to seven storeys, in addition to a shared underground parking facility.
The apartments will offer a variety of sizes, with options ranging from two to six bedrooms and areas from 51m² to 246m².
Odden 1 and Hinna Park Utvikling general manager Målfrid Holme said: “We are delighted to start this great residential project in Hinna Park. There will be homes for everyone with good public transport options, attractive park areas and the sea present on all sides. We’re looking forward to a great partnership with Veidekke. This is an important milestone for the further transformation of the area.”
Veidekke said that the commencement of construction works is scheduled for June this year, with the aim of completing and handing over the homes in the first half (H1) of 2026.
OBOS Nye Hjem Rogaland project manager Espen Ekeland said: “As a part of our environmental commitment, all new OBOS homes are subject to environmental certification, and the homes at Odden will receive BREEAM-NOR [Building Research Establishment Environmental Assessment Method Norway] certification at the Very Good level according to the v6.1 manual.
“With this starting point, the environment is very much in focus at Odden.”
Recently, Veidekke secured a contract to build 96 apartments under the Mathildetunet residential project in Skårerbyen, also in Norway.
