Obos made over eight billion kroner from builidings sold in the first half of 2016

Sandakerveien 99 at Storo in OsloOslo.Sandakerveien 99 at Storo in Oslo : Audun Braastad / NTB scanpix

Obos sold more housing, but also has initiated the building of fewer homes in the first half of this year, than it did in the same period last year.

In the first half of this year Obos sold 2.330 homes to a total value of 8.2 billion. That’s 11 percent more homes than the same time last year, and an increase in value of 24 percent, according Obos.
– The strong sales could lead to a record high housing production this year,  CEO Daniel Kjørberg Siraj says in a statement.
This year it has initiated the construction of 1975 homes in the first half of this year, which is 21 percent lower than the corresponding period in 2015 when it initiated the construction of 2,502 homes. This figure includes the total number of apartments that Obos builds either alone or together with other stakeholders.
At the same time there were OBOS 5,250 dwellings under construction as of 1 July this year. In the corresponding period in 2015 the figure was at 3,526.
Obos has operations in Norway and Sweden, and the numbers apply to both countries.
In the first half of this year  Obos  bought lots with a combined area large enough for them to build more than 4,000 homes in the Oslo region – including around 3,000 in Oslo, 1000 in Lillestrøm and 250 in Tønsberg.
– In addition, we expect to complete the regulations of over 2,000 homes in our existing lot portfolio so that they can be offered for sale in the fall of this year and in the spring of 2017,  Kjørberg Siraj in Obos says.


Source: NTB scanpix / Norway Today