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Scandinavian Property Development ASA The Bærum Municipal Council has approved the planning regulation for Fornebu Senter ("Områdesenteret"). The center comprises approx. 24 000 square meters. The next step in the process is draft of the development plan. Scandinavian Property Development (SPDE) expects to start construction of the center at the earliest during the summer of 2009, with planned completion in the summer of 2011.
- This is a milestone in SPDE's development project at Fornebu. The center will comprise the heart of Fornebu, with a large grocery store, and a number of shops, restaurants and cafes. The plan also includes different cultural offers, said Stein Haugbro, CEO of SPDE.
The Municipality of Bærum requires 50% of the housing units in phase 1 of the Fornebu development, i.e. 2 500 units, to be under construction or completed before the certificate of completion can be issued. This is in line with SPDE's development plan.
Rolfsbukta II SPDE has decided to delay the decision to start the Rolfsbukta II development until the end of August, as the company plans to re-examine the project's cost and work plans. SPDE will invite tenders for the development by early July.
Rolfsbukta II consists of approx. 136 units. To date, 20 of the 38 units in the first building (Bølgen) have been sold. As the decision to build will not have been made by 1 July, these buyers are now legally in a position to cancel their contracts. However, SPDE believes that a short delay of the start of construction in order to re-examine costs and work plans will be well received.
Rolfsbukta I, which comprises 161 units, was completed earlier this year and have now been moved into.
For more information about SPDE, please visit our website: www.spde.no
