NCC to divest housing project in Berlin for SEK 204 millionJul 12, 2012 09:44 BST
NCC Housing in Germany has divested a housing project with 149 apartments in Berlin to a German special fund for energy-efficient residential buildings (“Energieeffizientes Wohnen”) for SEK 204 million. Transfer and earnings recognition will occur in two phases, in the fourth quarter of 2012 and the fourth quarter of 2013.
The project, which comprises three building structures, is located in the Pankow area in Berlin. The buildings are based on NCC’s concept for residential construction and the 149 apartments have a total of 11,300 square meters of living space. Some 91 garage units and parking spaces will also be constructed.
“Pankow is an area with a strong economic trend. It’s not only the largest city district in Berlin but also the part of Berlin that has grown the most in recent years,” says Olle Boback, President of NCC Housing in Germany.
It is estimated that one of the buildings will be completed and ready for transfer and earnings recognition at the end of 2012 and two building in December 2013. Leasing will commence in August 2012.
The acquisition was implemented by Industria Wohnen on behalf of a special fund for housing properties, “Energieeffizientes Wohnen,” which invests in new and existing properties with high and modern energy-performance. The buyer is responsible for leasing the apartments.
According to a survey by the German marketanalysis company BulwienGesa, NCC is one of the largest residential 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: firstname.lastname@example.org.
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 12, 2012, at 10.30 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.