NCC Sells Residential Development Rights for 300 Housing Units in Sundbyberg to Järntorget Bostad

NCC is selling development rights with a value of SEK 195 million to Järntorget Bostad AB for the development of about 300 housing units in the Ursvik area in the city of Sundbyberg, Stockholm.

“We are pleased to bring in another player, who will enable faster expansion of the area. With Järntorget, we have a strong player who will contribute to the continued development of Ursvik,” says Joachim Hallengren, Business Area Manager at NCC Housing.

The sale of approximately 25,000 square meters of residential development rights to Järntorget Bostad AB supports NCC’s development strategy for the area. Possession is preliminarily scheduled to be taken in the first quarter of 2015 and the second quarter of 2016, respectively. In connection with the transaction, NCC will invest in infrastructure and also plans to commence proprietary construction of single-family homes and apartment blocks in the area in 2015.

“We are very pleased to have implemented this transaction with NCC. We now look forward to building beautiful, modern housing units in the expanding Sundbyberg area,” says Martin Arkad, President of Järntorget.

The sale will have a positive impact on earnings and be recognized in the NCC Housing business area in the first quarter of 2015 and the second quarter of 2016.

Source: http://www.ncc.se/

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