AF Group enters into partnership with Fornebu Utvikling

AF Group is selected by Fornebu Utvikling (FBU) as the turnkey contractor for Bølgen, a new housing project in Rolfsbukta bay in Fornebulandet outside Oslo. Bølgen will feature 38 waterfront flats.

A contracting agreement will also cover possible continuation of the two new buildings Alleen 1 and 2  consisting all together of 28 flats. Total value of the agreement is approximately NOK 130 million.
 
Sales of the Bølgen flats started 20 March, with 15  flats sold to date. Construction is expected to  commence in the autumn of 2010. So far in May, Fornebu Utvikling has sold a total of 44 housing  units in Fornebu. 
 
"The AF Group submitted the best contracting offer in sharp competition with two other bidders. We look  forward to working with a highly reputable housing contractor involved in the development of Rolfsbukta  bay. The market has trended positively recently, and 
we see keen interest in purchasing homes in Fornebu," says FBU CEO Morten Grongstad.
 
"FBU has exciting plans for the further development  of Rolfsbukta bay in Fornebu. The flats we will build  will have an attractive location facing the waterfront. The project is important for our building operations and shows that we are competitive. We look 
forward to working with FBU on Bølgen," says Pål Egil 
Rønn, CEO of the AF Group. 
 
For further information:
Morten Grongstad, CEO, FBU, tel. +47 99 15 39 05
Pål Egil Rønn, CEO, AFG, tel. +47 90 95 77 13