NCC sells housing project in GermanyRead original
NCC is selling a housing project in Lüneburg, Germany, to a German investor for approximately SEK 200 million. The project comprises three apartment blocks with 86 rental units.
“We are very pleased about this sale. Germany is a key market for our housing operations and this transaction is in line with our ambition to sell more housing projects,” says Joachim Hallengren, Business Area Manager, NCC Housing.
The housing project is located in the university city of Lüneburg, which is now a hub for service companies due to its location just a few kilometers southeast of Hamburg. With well-developed infrastructure and good transport links, Lüneburg is a sought-after residential area.
The project will be completed, handed over and recognized as profit with a positive earnings effect in the NCC Housing business area in the third quarter of 2017.
NCC Housing in Germany was recently 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, tel +46 070 088 71 33
Anna Trane, Press and PR Manager, NCC, tel: +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 September 11, 2015 at 8:00 a.m. (CET)
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.