Betonmast secures NOK 275m contract for Hamar apartment construction

Betonmast, a subsidiary of AF Gruppen, has signed a turnkey contract with Seterløkka Boligutvikling AS for the construction of 86 apartments in Hamar. The agreement, covering two construction phases, holds a total value of approximately NOK 275 million, excluding VAT.

The commencement of construction for both phases is conditional upon achieving sufficient pre-sales. Seterløkka Boligutvikling AS is jointly owned by OBOS Nye Hjem AS, Utstillingsplassen Eiendom AS, and Betonmast Eiendom AS, each holding a 33.3 per cent stake.

The Seterløkka development will feature apartments ranging from 26 to 137 square metres, encompassing a total development area of approximately 11,500 square metres GFA. The project is divided into 38 units for phase 1 and 48 units for phase 2. Peter Sandrup, chief executive of Betonmast, expressed enthusiasm, stating, "Following a strong development phase, where Betonmast has contributed with our residential expertise, we now look forward to seeing this project come to life."

Expected construction is set to begin in April 2026. Phase 1 is estimated for completion in the fourth quarter of 2027, while phase 2 is slated for completion in the second quarter of 2028.