NCC sells residential properties in Malmö for SEK 140 million

NCC sells residential properties in Malmö for SEK 140 million NCC Fastigheter has reached an agreement with Fortress Scandinavia AB regarding the sale of two department blocks and a development right on the island of Ön at Limhamn, Malmö. The sales price of SEK 140 million will generate a capital gain of approximately SEK 4 million for NCC. The residential buildings, which comprise a total of 11,300 square meters of floor space, contain 122 apartments built in 1992. The purchaser plans to utilize the 24,000-square-meter development right for the construction of four department blocks, with NCC Building as the turnkey contractor. "The sale is in line with our strategy of divesting fully developed properties in order to release capital for new real estate development projects," says Christer Svensson, manager of the Property Sales unit at NCC Real Estate in Malmö. "The sale also creates a construction assignment for NCC Building." The purchaser is a wholly owned subsidiary of Fortress Participation B.V., a Dutch company based in Rotterdam, which owns and manages properties. The company expects strong development in the Öresund region, resulting in increased demand for well-situated properties. Takeover will occur during autumn 2000. For further information, please contact: Christer Svensson, Unit Manager, NCC Fastigheter, Malmö (Tel: +46-40-31 71 35; +46-70-636 33 23) All NCC:s pressreleases can be found on www.ncc.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/21/20000121BIT00030/bit0001.doc http://www.bit.se/bitonline/2000/01/21/20000121BIT00030/bit0002.pdf