Veidekke and Union Partner on Oslo Residential Project
Veidekke and Union Residential Development have agreed to partner on the Sandakerveien 113–119 residential project in Oslo's Nydalen district. Veidekke will hold a 25 percent stake and serve as the design and build contractor.
Veidekke and Union Residential Development have formed a partnership to develop the Sandakerveien 113–119 residential project located in the Nydalen district of Oslo. Under the agreement, Veidekke will acquire a 25 percent ownership stake, while Union will retain the remaining 75 percent. Veidekke is also set to be the design and build contractor for the development.
The Sandakerveien project is a significant residential development situated in central Nydalen. The property is fully zoned, and the project plans include approximately 450 homes, which will be developed in multiple phases.
This collaboration allows Veidekke to expand its footprint in the Norwegian residential market, contributing its construction expertise to a substantial new housing initiative. Union will provide development management and financing for the project.