NCC to build 37-story apartment hotel in Kista

NCC to build 37-story apartment hotel in Kista NCC's Board of Directors has approved acquisition of land for the construction of Kista Residence Tower, a 37-story apartment hotel in Kista, north of Stockholm. The investment will total approximately SEK 770 million. Kista Residence Tower will contain 30,000 square meters of floor space, of which potential tenants have already indicated an interest in approximately 80 percent. The skyscraper will be built close to central Kista and will contain such premises as a 250-unit apartment hotel and 350 to 400 office workplaces. On April 3, 2001, NCC's entry won a land-allocation competition arranged by the Municipal Highways and Real Estate Department. The approximately 18,500-square-meter apartment hotel is mainly intended as accommodation for guest employees at Kista Science Park. Each apartment will have its own kitchenette and a functional workstation. One-room units with slightly more than 30 square meters of floor space will account for half of the total number of apartments, with 40-square-meter two-room units accounting for the remainder. A café will be built at the entrance level. A spa facility containing saunas, a gym and heated outdoor pools is planned at the penthouse level. Kista Residence Tower's close proximity to an approximately 6,700-square-meter office hotel will provide tenants with an opportunity to rent their own fully equipped workplaces, supported by office services and access to meeting/conference premises. The building will also include an approximately 6,000-square-meter shopping mall/leisure complex. A letter of intent has been signed regarding the leasing of approximately 80 percent of the total floor space. During 2000, NCC initiated construction of Kista Science Tower, a 32-story office building that is scheduled for completion in spring 2003. As a result of their distinctive character and profiles, the two tower buildings will become landmarks in Kista. The Kista Residence Tower project is expected to be initiated in June 2002 and completed during 2004. For futher information: Erik Eken, Vice President Property Development, NCC Property Development region Stockholm, tel +46 8 750 3180 or +46 70 621 0724 Gisela Lindstrand, Press Officer NCC AB, tel +46 8 585 52346 or +46 70 392 9500 Lena Fläder, Communication Manager, NCC Property Development, tel +46 8 585 52024 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/09/20010508BIT01520/bit0001.doc http://www.bit.se/bitonline/2001/05/09/20010508BIT01520/bit0001.pdf