Diligentia cooperates with Skanska on Härden block - 20,000 new square meters

Diligentia cooperates with Skanska on Härden block - 20,000 new square meters Diligentia has reached an agreement in principle with Skanska on the construction and leasing of an office building on the Härden block in the Norra Station area in Stockholm. "In recent years the Norra Station area has dramatically changed character," says Björn Casserlöv, Diligentia Stockholm AB. "The area has undergone a change for the better through new construction, renovations and additions and as a result, new international tenants have moved in. Its strategic location close to the city center and major highways makes it an attractive area, as evidenced by the major rent increases in the past two years." "For Skanska, this is an element in our efforts to broaden services to our customers by utilizing our expertise in project development," says Lennart Daleke, regional manager at Skanska Hus Stockholm. "Apart from our construction know-how, we are also placing our marketing and leasing resources at our customers' disposal." The Norra Station area is one of Diligentia's priority market sectors, where its lettable area following the planned project will amount to just over 100,000 square meters. The agreement allows Diligentia and Skanska to utilize their combined resources in leasing and contracting. This will give future customers the opportunity to impact and customize the facilities right from the start. Of the property's gross area of 20,000 square meters, 13,000 will be offices. The planned investment cost is SEK 220 million. The project is scheduled to begin in April 2000 and be completed in the autumn of 2001. Diligentia is one of Sweden's largest real estate companies. The book value of the Group's Swedish property portfolio amounted to SEK 10,390 million on September 30, 1999. The book value of the international properties amounted to SEK 557 million. Diligentia's overall strategy is to concentrate and develop its operations in select market sectors in Stockholm, Gothenburg and the Öresund region. Diligentia is listed on the A-list of the Stockholm Stock Exchange. Stockholm, December 8, 1999 For further information, please contact: Björn Casserlöv, Diligentia Stockholm AB, telephone: +46-8-5875 8245, +46-70-426 8245, e-mail: bjorn.casserlov@diligentia.se Göran O. Westerberg, Head of Group Communications and Investor Relations telephone: +46-8-5875 8120, +46-70-426 8120, e-mail: goran.westerberg@diligentia.se www.diligentia.se e-mail: diligentia@diligentia.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/08/19991207BIT00460/bit0001.doc http://www.bit.se/bitonline/1999/12/08/19991207BIT00460/bit0002.pdf