The area is currently industrial and parking, and after the transformation will fit well into the cityscape. The area is located directly west of the old hospital with a short distance to both the city and the river. There is both a school, a nursery school and a park in the immediate area, which is very attractive for those who are going to buy the homes. The plot was treated for the first time on 27 June this year and is assumed to have been approved in detail by the new year.

"After this purchase, Scandinavian Property Group has approximately 1,650 homes under development in Drammen, and we look forward to a good collaboration with both the administration and politicians, to create a new attractive housing project that will attract additional residents to Drammen," says Kim Alexander Larsen from Scandinavian Property Group.

"We are planning to start selling the apartments at Hotvet in the autumn of 2025, and we want to create a neighborhood where it is good to live. Here there will be housing for everyone, both young people, families and well-to-do adults."

"We have already started the collaboration with Drammen municipality and we look forward to being able to offer the market efficient and modern apartments in an area that faces very exciting development in the coming years."

Selmer was legal advisor in the transaction.