NCC sells real estate projects in Finland for SEK 332 million

NCC Property Development is selling a property project in Finland to the Swedish property fund Niam. The purchase price is approximately SEK 332 million, which will give rise to a capital gain of approximately SEK 24 million for NCC, after a provision for rental guarantees.

The building is expected to be completed by April 2007, and construction work has already commenced. The property’s gross floor area will be approximately 12,300 square meters, including heated garage space, of which rentable floor space will total about 6,300 square meters. Of the total floor space, some 65 percent has already been leased, and negotiations are under way with several different parties concerning the vacant space. The office property concerned is one of three properties built by NCC at Mannerheimvägen in Brunakärr, Helsinki. When the third building has been completed, the properties will offer work space for nearly 900 employees. The first two properties, which were completed in summer 2004, have tenants including NCC, the Medical Products Agency, Tietotili and Sirpa Mansner. “We have developed a theme for the project – “Future office” – which is based on the exchange of information, openness and work satisfaction. NCC Property Development itself will use a part of this space and the theme’s function by moving into the property,” explains Jorma Ahokas, from NCC Property Development in Finland. This is Niam Fund III’s fifth property transaction in Finland. Including this transaction, NIAM Fond III has acquired properties from NCC with a value of approximately EUR 95 million. The previously sold properties are located in Oulu, Tampere, Vanda and Helsinki. For further information, please contact: Jorma Ahokas, NCC Property Development Oy, +358 10 507 5431, +358 50 67 390 Annica Gerentz, Senior Vice President Corporate Communications NCC AB, +46 8 5855 2204, +46 70 398 4209