NCC sells development property in Copenhagen for SEK 400 m.
NCC sells development property in Copenhagen for SEK 400 m. NCC Denmark has signed an agreement with ATP Ejendomme A/S regarding the sale of a development property at Langelinie in Copenhagen, Denmark, for approximately SEK 400 m. The sale will generate a healthy development gain for NCC. 2 The transaction with ATP Ejendomme relates to the sale of a 13,000 m property, with garage parking for 120 vehicles. Some 75 percent of the property is leased to the Dragsted Schlüter Aros law firm. The office will be ready for occupancy during 2002. In May 1999, ATP Ejendomme A/S acquired the internationally acclaimed property, Dahlerups Pakhus, on Langelinie, from NCC Danmark. "ATP Ejendomme wishes to invest in solid, attractive properties. As a result of its substantial investments at Langelinie, the company has acquired some of the most outstanding properties in Copenhagen and we're delighted that the property will be completed by NCC," comments Lars Frederiksen, Managing Director at ATP Ejendomme A/S. "This transaction is part of our strategy of offering investors development projects in expanding markets in the Nordic region," says Nikolaj Hertel, Managing Director, NCC Ejendomme. Over the years since 1994, NCC Denmark has developed Langelinie, at Copenhagen Harbor, into an exciting city district. The development 2 consists of a total of 61,000 m of offices, retail premises and residences with a total project value of SEK 1.7 billion, of which NCC Denmark has completed work totaling SEK 1.25 billion on a turnkey contract basis. The sale will be included in NCC Real Estate's fourth-quarter earnings for real estate development. For further information, please contact: Nikolaj Hertel, Managing Director, NCC Ejendomme (Tel: +45-45 90 37 03) Lars Frederiksen, Managing Director, ATP Ejendomme A/S (Tel: +45-33 36 61 61) 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/2000/11/24/20001124BIT00490/bit0001.doc http://www.bit.se/bitonline/2000/11/24/20001124BIT00490/bit0002.pdf