NCC sells property in Oslo for SEK 220 million
NCC sells property in Oslo for SEK 220 million NCC has signed an agreement with a private norwegian investor regarding the sale of the property Christian Krohgsgate 32 in Oslo, Norway, for approximately SEK 220 million (NOK 185 million). The sale will generate a gain of about SEK 12 million (NOK 10 million), which will be included in the NCC Group´s earnings for the fourth quarter 2001. NCC has made the total refurbishment and renovation of Christian Krohgsgate 32. The property has a total of 11.200 square meters of floor space. 95 percent of the square meters are let. Christian Krohgsgate 32 has become a dynamic new environment for business operations active in the fields of advertising, market communications, IT and architecture. Christian Krohgsgate is one of the oldest blocks in Oslo. The property Christian Krohgsgate 32 was built during 1917 -1935. NCC has several development projects under way in this part of Oslo. NCC is developing the property Hausmanns gate 17 for Norwegian Teaching Association. The Teaching Association will take over the property when ready. NCC has also initiated construction of 90 apartments in the area. In 2001 NCC acquired the "Villmarkshuset" in the area for the future development of residential and commercial premises. For further information, please contact: Birger Kronborg, Financial Manager NCC Eiendom AS, Norway Tel +47 22 98 6965 Gisela Lindstrand, Press Relation Manager NCC AB Tel +46 8 585 52346 or +46 70 392 9500 All of NCC's press releases are available on www.ncc.se NCC is one of the leading construction and property development companies in the Nordic region. NCC has annual sales of approximately SEK 40 billion, with 25,000 employees. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/01/02/20020102BIT00160/bit0001.doc http://www.waymaker.net/bitonline/2002/01/02/20020102BIT00160/bit0001.pdf