STOCKHOLM, Sweden, Dec. 16, 2002 (PRIMEZONE) -- Nordisk Renting Oy has reached an agreement to build new headquarters for NCC Finland Oy in Helsinki, Finland. At the same time, NCC has signed a 15-year leasing contract with Nordisk Renting. NCC will build the headquarters itself, and the estimated total investment will amount to just over MSEK 200.
NCC Finland Oy is one of Finland's biggest construction companies, and is wholly owned by NCC AB in Sweden. NCC Finland Oy had a turnover of MEUR 630 (almost MSEK 6,000) in 2001, along with 2,500 employees.
The property in question will primarily be devoted to office space, with a total area in the region of 8,000 square metres. The property will be attractively located on Mannerheimvagen, close to Helsinki city centre and just 20 minutes or so by car from Vanda airport, and should be completed by summer 2004.
"NCC's strategy is not to tie capital up in real estate, which is why we have sold off many of our own properties in recent years. For a while now, NCC Finland has needed more modern, purpose-built headquarters in Helsinki with a good location as regards transport and communications. This project has now been made possible thanks to our co-operation with Nordisk Renting, a property owner with a professional, long-term approach," said Timo U. Korhonen, CEO of NCC Finland Oy.
"With this project we are expanding our collaboration with NCC, as we have already worked together on several new construction projects both in Sweden and Finland," said Reinhold Geijer, CEO of the Swedish parent company, Nordisk Renting AB. "NCC is one of an increasing number of large companies making a strategic choice to lease their real estate in the long term rather than owning it, and I'm very pleased that we can help them in their strategic process."
For further information, please contact:
Reinhold Geijer, CEO Nordisk Renting AB tel +46 8 670 98 01 Ake von Ajkay, Deputy CEO Nordisk Renting AB tel +46 8 670 98 15 Gisela Lindstrand, Press Relation Manager NCC AB tel +46 8 585 523 46
Nordisk Renting owns and develops properties for long-term leasing to financially strong private and public business partners. The balance sheet total amounts to SEK 16 billion and the custromers are found in Sweden, Finland, Norway, Denmark, Switzerland and England. Nordisk Renting is owned by Nordea (40%), 3i (35%) and the Sixth Swedish National Pension Fund (25%).
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