HusCompagniet has entered into a turn-key contract with property developer and operator of rental housing Velkomn for the construction of 153 DGNB gold-certified single and double storey semi-detached houses in Haslev in Faxe Municipality on Southern Zealand. Subject to issuance of building permit, the project is scheduled to commence in Autumn 2024 with handover in mid-2026. The contract is expected to generate total revenue at a level of approximately DKK 175 million over the construction period with the majority of revenue being recognized in 2025.

The order entry will be recognized upon issuance of building permit. Velkomn is primarily owned by UK property developer Matter Real Estate and has an ambition of building a large-scale portfolio of affordable, spacious and energy efficient semi-detached houses in Denmark. The agreement with Velkomn underlines HusCompagniet's commitment to form close partnerships with professional investors based on aligned interests driving long-term collaboration, growth and mutual value creation.

Wooden frames and roof cassettes for the houses will be manufactured at HusCompagniet's production facilities, supporting a gold level certification of the project according to the DGNB standard. The project contributes positively to HusCompagniet's B2B orderbook, compensating for a decision by ALFA Development at end of Second Quarter to withdraw from a turn-key contract entered into with HusCompagniet in April 2024 for the construction of 43 semi-detached houses in a new residential area in Nivå subject to ALFA Development gaining access to the land plot and obtaining a building permit as well as other customary conditions. ALFA Development has successfully acquired the land plot, and the cooperation between the parties as well as the process for obtaining a building permit progressed as planned.