NCC sells yet another rental project to investor in GermanyRead original
NCC has sold 120 apartments to a value of 225 MSEK to the German investor pension fund Bewag for a residential property development in the Steglitz-Zehlendorf area of Berlin.
"Berlin needs around 20,000 new homes a year to meet the demands of its ever-growing population, but currently there are only 14,000 homes in ongoing production in the Berlin housing market", says Olle Boback, Managing Director of NCC in Germany. "So we believe building more affordable new housing for as many people as possible is essential for the city’s future."
Bewag has again chosen to work with NCC on this development which is made up of 120 rental apartments in four buildings. This will be the fourth development that NCC has sold to the pension fund of Bewag, a supplier of occupational pensions for employees of the company Vattenfall Europe.
For Bewag it is important to be able to offer their tenants homes that are modern, energy-efficient and affordable. In the wake of previously successful projects in the Berlin region they are delighted to be working with NCC.
“We are happy that Bewag have chosen NCC once again. This sale confirms further our belief in the rental business as a strategic part of a well-balanced and diversified NCC Housing portfolio”, says Joachim Hallengren, Business Area Manager of NCC Housing.
Transfer and earnings recognition will occur on completion in the NCC Housing business area, during the fourth quarter of 2016.
For further information, please contact:
Joachim Hallengren, Business Area Manager, NCC Housing +46 70 643 95 68
Anna Trane, Press & PR Manager, NCC + 46 70 884 74 69
NCC’s media line: +46 8 585 519 00; e-mail: email@example.com, NCC’s image bank
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 14, 2014 at 08:00 a. m.
All of NCC:s press releases are available on www.ncc.se.
About NCC. Our vision is to renew our industry and provide superior sustainable solutions. NCC is one of the leading construction, property development and infrastructure companies in Northern Europe, with sales of SEK 58 billion and 18,500 employees in 2013. The NCC share is listed on NASDAQ OMX Stockholm.