NCC and Alfred A Palmberg sell property in Finland for SEK 218 million
NCC and Alfred A Palmberg sell property in Finland for SEK 218 million NCC Finland and Alfred A Palmberg Oy have concluded an agreement with Tapio Insurance Companies regarding the sale of Stella Terra in Esbo for SEK 218 million, which will generate a healthy capital gain for NCC. The property will be completed during the winter of 2001. Stella Terra is Phase 4 of the Stella Business Park project in Leppävaara, Esbo, close to Helsinki. Stella Business Park is one of the international business parks under construction in what is one of Europe's most expansive IT and telecom regions. Stella Terra has 12,000 square meters of floor space, plus an indoor car park with 290 parking spaces. The property is fully leased, mainly to growth companies active in the IT, telecom and Internet services sectors. Stella Terra will be completed during February 2001. The project is being implemented in cooperation with Alfred A Palmberg Oy. Stella Business Park, which is being built in cooperation with Alfred A Palmberg Oy, comprises four office buildings containing a total of 26,000 square meters of floor space, plus two indoor car parks with a total of 740 parking spaces. It will accommodate approximately 45 companies, providing workplaces for about 1,200 people. "This is in line with our strategy of offering investors development projects in expanding markets in the Nordic region," says Magnus Mannesson, President of NCC Real Estate. The sale will be included in NCC Real Estate's fourth-quarter earnings, in the real estate development category. For further information, please contact: Magnus Mannesson, President, NCC Fastigheter AB (Tel: 46-8-655 22 75, or +46-70-512 18 90) Jorma Ahokas, NCC Finland (Tel: +358 9 5075 431) All NCC:s pressreleases can be found on www.ncc.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/13/20001013BIT00480/bit0001.doc http://www.bit.se/bitonline/2000/10/13/20001013BIT00480/bit0002.pdf