NCC to build apartments and retail premises in Oslo for SEK 232 million

NCC Construction AS in Norway has signed an agreement with Linstow Eiendom AS regarding the conversion of the post office property block in Oslo into apartments and commercial premises. The agreement is worth SEK 232 million (NOK 214 million).

The new property block has been named “Quadraturen” and the assignment is NCC’s largest ever refurbishment project in Norway. The project comprises the construction of 232 high-standard apartments, which will vary in size from 36 to 120 square meters. In addition to 11,000 square meters of residential space, 15,000 square meters of commercial premises will be built, including a fully automatic garage. The project will be implemented in the form of a partnering agreement and work will commence on March 1, 2005. The first phase consists of the extensive demolition work required to make the site ready for the refurbishment project. The “Quadraturen” property block is scheduled for completion in March 2007, although tenants will be able to move into the first apartments as early as August 2006. NCC has previously built a shopping mall in Tallinn for Linstow Eiendom and is currently in the process of renovating the Verkstedhallarna shopping mall at Aker Brygge. For further information, please contact: Ulf Thorné, Press Relations Manager, NCC Group, tel +46 8 585 523 46, +46 70 214 77 27