The effect of new zoning plan on land value in Forus
New calculations show that the company will have to write down the value of the land by close to 340 million kroner. The reason for the devaluation is increased costs and reduced utilization of land should the new zoning plan go through. The Board of Forus Næringspark AS consisting of politicians from Stavanger, Sandnes and Sola were informed of the dramatic numbers in a board meeting held at the end of August.
The severe devaluation is a consequence of the controversial suggestion by IKDP Forus. In the suggested plan, there are several measures in place, which will affect property owners in the area by increased costs and a change in the utilization of land resources. The new plan focus is to make room for green spaces, canals and other proposals.
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