NCC sells residential projects in Copenhagen
NCC Construction in Denmark has signed a contract with The Carlyle Group for the sale of land and the construction of three housing projects in the Copenhagen area. The transaction is currently valued at approximately SEK 760 million. Further assignments will be added when the detailed development plan for Krøyers Plads is completed.
The agreement comprises several sections, including the construction of 240 exclusive apartments in central Copenhagen and a residential area with 165 single-family homes just outside the city. As a result of this agreement, The Carlyle Group will invest in three new projects in the Copenhagen area, including the development, construction and sale of approximately 150 apartments at Kröyers Plads and 90 apartments at America Plads, both in attractive central locations. The agreement also includes the development and construction of a residential area in Dragør, outside Copenhagen. The projects are scheduled to commence in August 2005 and are scheduled for completion in mid-2008. The Carlyle Group is an active property-investment company in the European market. The Group is established in Europe, Asia and the US and has completed 150 property acquisitions with a value exceeding USD 10 billion since 1987. This transaction is The Carlyle Group’s second property investment in Denmark Information about The Carlyle Group is available at www.carlyle.com For further information, please contact: Torben Biilmann, Senior Vice President, NCC Construction Danmark, +45 39 10 39 10 Katherine Elmore-Jones, Director of European Communications, The Carlyle Group, +44 207 894 1560 Ulf Thorné, Press Relations Manager, NCC AB, +46 (0)8 585 523 46, +46 (0)70 214 77 27