Veidekke Entreprenor has secured a contract from Veifor for the first stage of the Hagebyen housing project in Fornebu, Oslo, Norway.
As part of the contract, Veidekke will build 109 homes worth a total of around Nkr470m ($81.53m).
Hagebyen, located next to Nansen Park, is the newest housing project in Fornebu.
Veidekke project developer Anders Holmlund said: "There is high demand in the region for flexible, family-friendly homes in green surroundings."
Veifor eventually intends to develop a total of 345 homes in four stages with all flats featuring a garden, terrace or balcony.
The first stage of the project comprises six blocks of flats and terrace houses around large, green yards, outdoor areas and playgrounds, in addition to cellar parking.
The apartments will range from 47m² to 115m² in size; the three-level terrace houses will be 134m², and terrace flats and two-level top flats will be 105m² and 91m² respectively.
Fornebu Utvikling housing director Jorgen Stavrum said: "Veidekke Entreprenor is one of Norway’s major home builders, and Fornebu Utvikling has already cooperated well with Veidekke Entreprenor on other projects at Fornebu."
Construction work on the first stage of the project is scheduled to commence in March 2012 and is expected to be complete by the fourth quarter of 2013.
Veifor is a 50-50 joint venture between Fornebu Utvikling and Veidekke Eiendom.
Image: The first stage of the project comprises six blocks of flats and terrace houses. Photo: Veidekke Entreprenor.