Veidekke sells NOK 6.3 billion worth of residential units in 2019
OSLO: Veidekke ASA, Scandinavia’s largest construction and property development company, sold 256 residential units in the 4th quarter. Total sales for 2019 encompassed 1,166 residential units with a total value of NOK 6.3 billion.
There were 2,215 units under construction at the end of 2019, and the sales ratio was 78%.
Veidekke sold 256 residential units during the 4th quarter of 2019, of which 154 units were sold in Sweden and 102 units in Norway. Residential sales increased compared with the 3rd quarter, and this increase was in Sweden. Across the year as a whole, Veidekke sold 1,155 residential units, which represents an increase of 305 units compared with the year before.
“During 2019, we noted a solid increase in sales against the previous year in both Norway and Sweden. In Norway, we have enjoyed success on several projects in both Oslo and Trondheim. The positive developments we have experienced in Sweden are also gratifying, even if it will take time before increased sales yield a positive impact on the number of residential units under construction,” says Executive Vice President Jørgen Wiese Porsmyr.
During the 1st quarter of 2020, a new stage of sales will begin at Middelthunet (94 units), while the first stages at Løren Botaniske (70 units) in Oslo and the wooden house project Cederhusen i Hagastaden in Stockholm (60 units) will also launch. These will all be important contributing factors to activities over the course of the year, according to Porsmyr.
The value of the sold residential units was NOK 1.3 billion during the 4th quarter, of which Veidekke’s share was NOK 978 million. For the full year, residential units valued at NOK 6.3 billion were sold, and Veidekke’s share was NOK 4.3 billion.
The number of residential units currently under construction is 2,215 at year -end, of which Veidekke’s share is 1,732 units. The sales ratio for units under construction is 78%.
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