Quick asylum reception centre gave high profit
Abri Vekst and investor Alfred Ydstebø earned NOK 77 million as they could quickly offer closer to 1,000 temporary asylum reception centre places.
The gain came in a matter of months last year. The Stavanger-based investor hired the abandoned head office of the oil company BP and could accommodate 1,000 refugees last year, writes Dagens Næringsliv.
Ydstebø explains the big profit with efficient operation and low costs, and that there were no serious events during the period.
High Risk – High Profit
– When we started in the autumn of 2015, we entered into an agreement with the Immigration Directorate on market terms. There was sky-high risk. The price at that time was under the others could deliver. When we started, we estimated that the profit was 30 to 40 million. It was twofold, he explains.
At most, 932 people stayed at the reception. Now it stands empty and Ydstebø company bought half the building.
© NTB Scanpix / Norway Today