Norwegian housing developer OBOS has awarded construction and civil engineering company Veidekke a design and build contract for a residential development project in Oslo, Norway.

The Ulvenplassen project will feature 264 apartment units intended for adults and commercial premises.

This contract carries a value of Nkr597m excluding VAT.

Veidekke Bygg Oslo department head Kaare Gilhus said: “We are very pleased that we can continue the large-scale development of Ulven in partnership with OBOS and are very appreciative of the commission. This is especially important for us now that the housing market has cooled off.

“At the same time, we know that the market will return. OBOS taking responsibility and building without presales will help to mitigate the recoil effect that will occur in Oslo when the market turns the corner.”

The project will include one to five-bedroom floor plans ranging from 30m² to 160m².

In conjunction with NGO Diakonhjemmet Omsorg, the project is a senior concept with 62 units. The senior design will include common areas both inside and outside, as well as a dedicated concierge.

Ulven Bolig AS general manager Stian Svae said: “The market for new housing is challenging at the moment, but we believe it is important to maintain continuity in housing construction and start this residential project now.

“This is both for the sake of the progress of the Ulven development as a whole, but also for the sake of residents who live there or are about to move in who will avoid construction work that extends too far into the future.

"When Ulvenplassen is finished, OBOS’s area south of Ulvenveien will be completed with good homes and attractive green outdoor areas.”

Construction work is set to commence soon and is expected to be completed in the first half of 2026.