NCC sells housing project in Hamburg for SEK 185 million

NCC Housing in Germany has sold a 92-apartment housing project in Hamburg to a German residential property fund managed by Aberdeen Asset Management, for SEK 185 million. The transfer will be finalized and earnings recognized on completion of the project in the third quarter of 2014.

The project, which is located in Hamburg-Mitte, comprises two buildings with a total of 92 high-standard apartments, 60 square meters of commercial floor space and 58 garage units.

The apartments, ranging in size from two to four rooms and featuring 50 to 120 square meters of floor space, will be equipped with balconies, terraces or access to a roof terrace. There will be a total of 7,100 square meters of living space.

“Sales to the investor market have become an increasingly important element of NCC Housing’s business and the current project is the sixth major package transaction in Germany alone this year. About 27 percent of the total number of homes sold to date this year comprised package transactions,” says Joachim Hallengren, President of NCC Housing.

For further information, please contact:
Joachim Hallengren, President of NCC Housing, tel:+46 70 643 95 68
Charlotte Hagman, Head of Communications NCC Housing, tel:+46 (0)8 585 516 84, or+46 (0)70 376 10 64

NCC’s media line: +46 (0)8-585 519 00, E-mail: press@ncc.se

This is the type of information that NCC AB could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on November 8, 2012, at 08.00 CET.

All NCC’s press releases are available at: www.ncc.se/press.

NCC is one of the leading construction and property development companies in the Nordic region. In 2011, NCC reported sales of SEK 53 billion and had 17,500 employees. NCC Housing develops and sells houses in selected markets in the Nordic regions, Germany, the Baltic countries and St. Petersburg.