NCC sells residential property in St. Petersburg for SEK 105 million

NCC Housing in St. Petersburg has signed an agreement for the sale of one building in the second stage of the Swedish Krona project in St. Petersburg. The buyer is SATO, one of Finland’s leading corporate investors in housing. The value of the contract amounts to about SEK 105 million and will have a positive effect on earnings in November 2012. Payments are made periodically in accordance with agreed payment plan.

The building being acquired by SATO comprises 66 fully equipped apartments and will be completed in the fall of 2012. The building is part of the second stage of the Swedish Krona project which is currently under construction in Primorsk, a green suburb in the north of St. Petersburg. When fully completed, the Swedish Krona project will comprise 10 buildings with a total of 900 apartments, underground parking, kindergartens, recreation areas and much more.

“Swedish Krona fits the SATO standards well with its green location, an open customer friendly approach, and of course a level of quality we feel we can trust,” says Staffan Tast, Director General of SATO Russia.

“Housing construction is increasing in pace after the crisis, and the appearance of investors in St. Petersburg market is a good sign. Sato is an important partner for NCC in the Nordic region and St. Petersburg. We are pleased by Sato’s confidence in NCC in general and Swedish Krona in particular. Tenants of Sato apartments are high-end customers looking for comfortable living and flexible life-styles. This will increase the attractiveness and social ambience of the neighborhood,” says Juuso Hietanen, Director General of NCC Housing in St Petersburg.

For further information, please contact:
Charlotte Hagman, Head of communications, NCC Housing +46 (0)8 585 516 84, +46 (0)70-376 10 64
Magnus Jonsson, Press Relations Manager, NCC Group, +46 (0)8 585 522 46, +46 (0)70 817 8711

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

This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on December 22, 2010, at 5 p.m.

All of NCC’s press releases are available on www.ncc.se/en

NCC is one of the leading construction and property development companies in the Nordic region. In 2009, NCC had sales of SEK 52 billion, with 18,000 employees.