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Business operations in the situation of coronavirus COVID-19 pandemic

  • We take a responsible approach to the pandemic situation and do our best to minimize the impact and consequences of the pandemic on our employees, customers, partners and shareholders.
  • We follow the requirements and instructions of the governments and health boards/authorities of our home markets and, if necessary, change our working processes accordingly.
  • In order to minimize the spread of the virus and illness, we take necessary measures in our work both in offices and on construction sites, including remote working, social distancing, disinfecting hands and premises, using personal protective equipment, etc. Sick employees, employees with flu-like symptoms and employees who have had contact with an infected person, must stay at home.
  • As a general contractor, we meet the necessary requirements and require it from our subcontractors, who we instruct and, if necessary, support in ensuring the availability of personal protective equipment. We have shared our measures and procedures with cooperation partners and professional associations.
  • The group continues construction activities until completion of apartment development projects that are currently in construction phase. We implement also safety measures necessary in the sales process to protect our group´s employees and customers.
  • Group companies are co-operating with all parties in order to achieve the common goals according to plan to the extent possible and to complete the construction projects. In today´s state of emergency we can´t exclude that there may be restrictions or downtime in the works on construction sites, as well as the deadlines for the completion of the objects may be affected by the illness of employees and various supply difficulties. Group companies have mapped main risks and analyzed alternative solutions; emerging situations will be solved based on the specifics of the particular case. The activities will be based on the principle of minimizing damage to different parties and it is considered important that all parties behave responsibly.
  • The pandemic and restrictions shall have a negative effect on the construction and real estate sector as well as the group’s business operations, while the extent of that effect is currently impossible to assess. Risks and a decline in construction orders by private sector could be mitigated by responsible behavior of the banking sector, support measures from governments and international organizations, and a rapid increase of the construction orders by the public sector.