“We are delighted to have won the competition for this project and would like to extend our sincere thanks to SPG for the confidence they have placed in us. We particularly appreciate that the project is innovative and future-oriented, with ambitious environmental goals. The project will be built in accordance with the EU Taxonomy and will be Norway’s first large-scale new residential project developed under the FutureBuilt circular framework,” says Bjørn Ove Liavaag, Managing Director of Seby AS.

Stovner Torg is one of two winning projects in the Reinventing Cities competition organized by the City of Oslo in collaboration with 15 other major cities committed to tackling climate change. The aim of the initiative is to set new standards for climate-friendly urban development and to pave the way for new interdisciplinary approaches in order to achieve the best innovative solutions for the cities of the future.

“We see Seby as a highly solution-oriented contractor with valuable experience from FutureBuilt projects. The quality of their bid and their strong understanding of the project’s environmental ambitions made them a natural choice. We look forward to a good collaboration going forward,” says Henrik Tune, Head of Development at Scandinavian Property Group.

The first phase comprises 137 apartments, ranging from one- to four-bedroom units, located in two eight-storey buildings with multiple entrances, as well as a shared underground parking facility. The project will also include the construction of several communal amenities, three guest apartments, rooftop terraces, courtyard areas for play, and landscaped outdoor spaces.

Stovner Torg is planned to be developed in three phases, totalling 280 apartments. The overall contract between Seby AS and Scandinavian Property Group for the entire project amounts to approximately NOK 670 million, excluding VAT. The remaining contract value will be included in Veidekke’s order backlog once sufficient sales have been achieved to initiate construction of the subsequent phases.

Detailed design work is well underway. Construction is scheduled to commence in May, with planned completion during the first quarter of 2028.

The contract is included in Veidekke's order book for Q2 2026.