Portfolio Insights - AFK Eiendom
Construction of Bryggebyen phase 4 confirmed: 51 new apartments at Vindholmen
AFK Eiendom has signed a design-and-build contract with Veidekke for the fourth phase of Bryggebyen in Arendal. The contract is worth approximately NOK 190 million, excluding VAT, and the client is Vindholmen Eiendom AS.
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Bryggebyen is a major urban development project in Arendal led by Arendals Fossekompani. Phase 4 is the first phase Veidekke will build.
"We're pleased to be working with Veidekke on another project and to be part of developing the local community in Arendal. The project brings important ripple effects and work for local businesses and suppliers, including consultants, contractors and everyone else on the team. The cranes will soon be back in town, and we're looking forward to seeing the project take shape," says Tor Kristian Skår Myre, Project Manager at AFK Eiendom.
The project will deliver 51 apartments with parking and communal areas. It marks an important step in the continued development of Bryggebyen at Vindholmen.
The phase 4 building will be seven stories high. It will have one-, two- and three-bedroom apartments from 47 to 109 square metres, all with sea views, and every unit will have a terrace or balcony. There will also be a shared garden and an annex, where residents will have bike storage, a shared hobby room/workshop, a guest room and a summer lounge.
"My daughter and I are really looking forward to moving into our new apartment in Bryggebyen. It will be wonderful to live so close to the water, enjoy the view and feel the power of the sea on a stormy day. In summer we'll have the beach, and the rest of the year the new aquatic centre. And we'll be close to shops, the gym and the town centre," says Jeanette Andreassen, who has bought an apartment in phase 4.
"We are very pleased with the confidence Vindholmen Eiendom and Arendals Fossekompani have shown in us with this contract, and we now look forward to getting the work under way," says Atle Monan, District Manager at Veidekke Bygg Agder.
"Bryggebyen is an exciting project that will leave its mark on Arendal for many years to come. Veidekke has strong local roots, and we look forward to bringing our experience and expertise to the project," says Ole Morten Sundsdal, Department Manager at Veidekke Bygg Agder.
Work will start around the turn of the year, and the development is due to be finished by June 2028.
