Veidekke sold 264 residential units during Q2 2020. In comparison, 275 residential units were sold in Q2 2019 and 299 in Q1 2020. Sales were lower during the middle of the quarter in both Norway and Sweden because of the coronavirus pandemic. Activity levels are currently the same as before the pandemic. The value of the residential units sold in the quarter was NOK 1.3 billion, of which Veidekke’s share was NOK 900 million.
“We can see that we have come out well from a quarter characterised by the coronavirus pandemic,” says Jørgen Wiese Porsmyr, EVP of Veidekke. “We have managed to maintain the planned sales activities and starts of construction and, unlike previous crises, we can now see that activity levels have remained high in most of our priority areas.”
The number of residential units under construction is now 2,008, of which Veidekke’s share is 1,489. The sales ratio for residential units under construction is 71%.
On 16 June 2020, Veidekke entered into an agreement with a consortium consisting of Fredensborg AS, Fredensborg Bolig AS, Norwegian Property ASA and Union Real Estate Fund III Holding AS on the sale of its property development arm in Norway and Sweden. The transaction is expected to be completed during September 2020.
Residential sales figures for Veidekke in Q2 2020:
Q2 2020 (2019)
12-month rolling sales
1. Sales figures, including jointly owned projects
2. Veidekke’s share of sales