NCC sells 74 apartments to Finnish investor Sato in Saint Petersburg
NCC has sold 74 apartments in the housing project Skandi Klubb, Saint Petersburg to the Finnish residential investor and rental apartments operator, Sato-Neva Oy, to an approximate value of SEK 135 million.
The project comprises 4,182 square meters of living area plus parking and supplementary spaces in the first phase of the Skandi Klubb project in Saint Petersburg.
“We are happy that our co-operation with Sato in Saint Petersburg has led to yet another business opportunity. This sale is further confirmation that our rental business is an established part of the NCC Housing portfolio strategy” , says Joachim Hallengren, business area manager of NCC Housing.
“Saint Petersburg continues to show growth in many areas and there is an increasing need for quality residential property. We chose Skandi Klubb due to the quality guaranteed and the reputation of NCC and the very convenient location near to the business, political and cultural centers of Saint Petersburg” , said Staffan Tast, General director of Sato-Neva in Russia.
Transfer and earnings recognition will occur on completion in the NCC Housing business area, during the second quarter of 2016.
For further information, please contact:
Joachim Hallengren, Business Area Manager, NCC Housing; tel +46 70 643 95 68
Anna Trane, Press & PR Manager, NCC; tel + 46 70 884 74 69
NCC’s media line: +46 8 585 519 00; e-mail: press@ncc.se, 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 June 10, 2014 at 17:00 p. 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.
SATO is one of Northern Europe’s leading investors in and operators of rental apartments. The company owns a total of 23,500 rental apartments in Finland’s largest centers of urban growth as well as in St Petersburg, Russia. SATO’s investment portfolio is valued to more than 2 billion euros.
SATO has set the goal of being the most efficient and progressive player in the market, which facilitates the constant improvement of customer services as well as generating added value for its shareholders.