NCC to divest housing project in Düsseldorf for SEK 189 million
NCC Housing in Germany has divested a housing project, with 98 apartments in Düsseldorf, to a German special fund (KGAL/HI Wohnen Core 2)for SEK 189 million. Transfer and earnings recognition will occur upon completion, third quarter of 2013.
The project, which is located in the Rath area in Düsseldorf, comprises three building structures with a total of 98 apartments and 8,440 square meters of living space.
The buildings are based on NCC’s concept for housing construction and most of the apartments consist of two or three rooms between 54 and 121 square meters. Some 98 garage units will also be constructed.
“The Düsseldorf metropolis is an attractive and expanding market, where housing needs are continuously increasing,” says Olle Boback, President of NCC Housing in Germany.
Rath is located in the North-Eastern part of Düsseldorf, approximately four kilometers from the city center.
The project is scheduled for completion in the third quarter of 2013. NCC is responsible for leasing the apartments and will issue a three-month lease guarantee after completion for any vacant apartments.
According to a survey by the German market-analysis company, BulwienGesa, NCC is one of the largest housing developers in Germany.
For further information, please contact:
Olle Boback, President of NCC Housing Germany, tel:+49 3361 670-433
Charlotte Hagman, Communications Manager NCC Housing, tel:+46 (0)8 585 516 84, or+46 (0)70 376 10 64
Magnus Jonsson, External Communication and Media Relations Manager NCC AB, +46 (0)8 585 522 46
NCC’s media line: +46 (0)8-585 519 00, E-mail: press@ncc.se
This is the type of information that NCC AB could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on July 11, 2012, at 18.00 CET.
All NCC’s press releases are available at: www.ncc.se/press.
NCC is one of the leading construction and property development companies in the Nordic region. In 2011, NCC reported sales of SEK 53 billion and had 17,500 employees. NCC Housing develops and sells houses in selected markets in the Nordic regions, Germany, the Baltic countries and St. Petersburg.
