Betonmast, a subsidiary of AF Gruppen, has signed a contract with Scandinavian
Property Group (SPG) for the construction of two residential areas in central
Strömstad. This turnkey contract is valued at approximately SEK 239 million,
excluding VAT.<br />
<br />
The new residential developments of Linden and Häggen will be built in an old
industrial area of the town. Five blocks will be built, with a total of 256
apartments.<br />
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The project is expected to commence during the spring 2021, with projected
completion in November 2023. There are caveats concerning building permits and
energy subsidies.<br />
<br />
The project company is owned 45% by Betonmast Eiendom, 10% by VGL Utveckling and
the remaining by SPG.<br />
<br />
"We are delighted to be able to develop affordable apartments for rent in
western Sweden. Transforming an old industrial area into a vibrant district is
especially enjoyable," says CEO Jørgen Evensen of Betonmast.<br />
<br />
<br />
For further details, please contact:<br />
<br />
Jørgen Evensen, CEO of Betonmast, tel.: +47 906 09 310<br />
Bård Frydenlund, Executive Vice President, Sweden and Betonmast for AF Gruppen,
tel.: +47 918 68 621

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