Last autumn Veidekke was commissioned to build the cellar phase of the project, a contract worth NOK 150 million (approx. €16 M.) The new contract includes the cellar project and boosts Veidekke's order backlog by NOK 650 million excl. VAT in the first quarter.

The Diagonale project is located between Dronning Eufemias gate and Operagata. The entire project will include around 400 student homes, 14,000 sqm of offices and 4,000 sqm of retail premises, cafés and restaurants at street level. The project consists of two buildings linked by a common cellar.

"We are now looking forward to watching the buildings rise. Diagonale is a spectacular project in an extremely attractive location. The combination of student accommodation, restaurants and offices will bring life to the area both during the day and in the evenings. With Veidekke we have a contractor who knows Bjørvika well and who has extensive expertise and the ability to execute this type of project," says Øystein Trøseid, chairman of the board of A9 Palekaia AS.

"Diagonale is a strategically important project for Veidekke and will strengthen our growth and position in Oslo. We are very grateful for the trust placed in us and are looking forward to getting started on the rest of the construction work," says District Manager Hans Olav Sørlie of Veidekke Entreprenør Oslo.

The work on the cellar phase started in November 2015. The office building is scheduled to be completed in January 2018, and the student accommodation in July the same year.