SOLNA, Sweden, Nov. 10, 2003 (PRIMEZONE) -- NCC Property Development is to lease office premises in the Columbus office building in Brussels to SCA Packaging. SCA Packaging will lease four of the building's five stories, which comprise a total of 5,350 square meters of floor space and 100 garage spaces.
The Columbus office building is the fourth phase of NCC Property Development's Twin Square project, which is located in the proximity of Brussels' international airport, Zaventem. The previous three phases amounting to slightly more than 15,000 square meters of floor space have already been developed and sold to WCM, a German real estate company. The tenants in the earlier phases include Microsoft and Pharmacia.
SCA Packaging will move into the Columbus premises in March 2004.
As a result of this leasing agreement, NCC Property Development is entitled to exercise its option to sell the fourth phase to WCM during 2004. A sale would generate revenues of approximately SEK 120 million (approx. EUR 13 million) and have a neutral effect on NCC AB's earnings during 2004.
All of NCC's press releases are available on www.ncc.info
NCC is one of the leading construction and property development companies in the Nordic region. NCC had in 2002 sales of SEK 45 billion, with 25,000 employees.
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