Veidekke has been awarded a significant construction contract by Thon Gruppen to develop a mixed-use property at Vitaminveien 6 in Oslo, Norway. This $79.9 million project aims to transform the Storo area into a modern urban district, integrating residential, office, and commercial spaces.
What Happened
Veidekke's new project, located in the Storo area of Oslo, is set to begin with the demolition of existing structures in November 2023, followed by construction in April 2027. The development will feature a seven-storey office building, a seven-storey residential building, and a commercial podium connecting the two. The total gross floor area is approximately 30,000 square meters, including 98 rental apartments, 5,200 square meters of office space, and parking and retail premises within the podium.
The office component is designed to achieve BREEAM Excellent certification and an Energy Performance Certificate rated Class A. This aligns with Thon Gruppen's long-term ownership and management perspective, emphasizing sustainable and energy-efficient solutions. The project is expected to complete by August 2029, with office spaces ready for occupation in the second quarter of that year.
What This Means for Your Business
For US operators in the AECM industry, this project underscores the growing demand for sustainable and mixed-use developments in urban areas. With Veidekke securing this contract, it highlights the competitive edge companies gain by showcasing expertise in large and complex construction projects, especially those meeting high sustainability standards like BREEAM and Class A EPC ratings.
This contract could serve as a model for US firms looking to strengthen their competitive positioning in international markets by prioritizing energy efficiency and integrated urban planning. The project also emphasizes the importance of strategic partnerships, as seen between Veidekke and Thon Gruppen, which can enhance project delivery and innovation.
What US Operators Should Watch
US operators should monitor the progress of this development as it could set a precedent for future international projects requiring high sustainability standards. Additionally, those interested in pursuing similar contracts should stay informed about BREEAM certification processes and energy performance standards, which are increasingly becoming critical factors in securing large-scale construction contracts.
Recognizing deadlines such as the start of demolition in November 2023 and subsequent construction phases can provide insights into project timelines and execution strategies that might be applicable to similar projects in the US market.
Source: https://www.worldconstructionnetwork.com/news/veidekke-contract-thon-gruppen-norway/
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