NCC sells housing project in GermanyRead original
NCC is selling a Berlin property project to the property company Industria Wohnen for SEK 375 million. The project comprises 223 housing units in three apartment blocks that are currently under development.
“We are very pleased with this sale. Germany is a key market for our housing operations and this is the fifth project that we have sold to Industria Wohnen. This transaction means that we will be able to meet the increased need for housing in Berlin,” says Joachim Hallengren, Business Area Manager, NCC Housing.
Over a site covering about 21,500 square meters, NCC is building three apartment blocks, two five-story blocks and one six-story. The 223 planned housing units have practical layouts and are equipped with modern conveniences.
The project is located in eastern Berlin, close to excellent communication links, local cultural opportunities, shopping, and sport and recreation facilities that, together, have a positive effect on the area. The area has seen average population growth that is about 10 percent higher than for Berlin as a whole over the past ten years.
The project will be completed, handed over and recognized in revenue for the NCC Housing business area in the fourth quarter of 2017. NCC is giving a one-year rental guarantee.
This year, NCC Housing in Germany was named the country’s most active housing developer for the third consecutive year.
For further information, please contact:
Joachim Hallengren, Business Area Manager, NCC Housing, +46 70 088 71 33
Anna Trane, Press and PR Manager, NCC, +46 708 84 74 69
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 November 12, at 4 p.m.
About NCC Our vision is to renew our industry and provide superior sustainable solutions. NCC is one of the leading companies in construction, property development and infrastructure in Northern Europe, with sales of SEK 57 billion and 18,000 employees in 2014. The NCC share is listed on the Nasdaq Stockholm exchange.