NCC sells housing project in GermanyRead original
NCC is selling a housing project in Frankfurt am Main, Germany, to a German investor for approximately SEK 150 million. The project comprises three properties containing a total of 64 rental units.
“We are delighted to have completed this sale. Germany is a key market for us and this sale matches our ambition to sell more housing projects to investors,” says Joachim Hallengren, Business Area Manager at NCC Housing.
The housing project is located in the Griesheim city district of Frankfurt am Main. In addition to excellent transport connections to the city center by suburban train or tram, residents will have access to an extensive cultural offering and shops within walking distance.
Griesheim is a popular residential area. Over the past decade, the population of Griesheim has grown faster than anywhere else in Frankfurt.
The project will be completed, handed over and profit recognized in the NCC Housing business area during the first quarter of 2017.
NCC Housing in Germany was recently named the country’s most active housing developer for the third consecutive year.
For further information, please contact:
Joachim Hallengren, Business Area Manager, NCC Housing, tel +46 70 088 71 33
Anna Trane, Press & PR Manager, NCC, tel +46 708 847 469
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on May 29, 2014, at 2 pm (CET).
About NCC Our vision is to renew our industry and provide superior sustainable solutions. NCC is one of the leading companies in construction, property development and infrastructure in Northern Europe, with sales of SEK 57 billion and 18,000 employees in 2014. The NCC share is listed on the Nasdaq Stockholm exchange.