SOLNA, Sweden, June 25, 2002 (PRIMEZONE) -- NCC Eiendom, Norway, is selling the Hausmanns gate 17 office property in Oslo to the Norwegian Teaching Association. The sales price of approximately SEK 240 million (NOK 195 M) will generate a healthy development gain that will affect NCC's earnings during the second quarter of 2002.
NCC is developing and building the property, which will comprise a total of about 9,200 square meters of floor space. The office building will consist of nine stories plus an in-door car park. The property will be joined to a completely refurbished factory building originally constructed in 1879. A glassed-in atrium will be built at the connecting point between the two properties. The new property will be ready for occupancy in March 2003.
"The sale of this property is in line with our strategy of selling real- estate projects at an early stage of development. In this case, an extremely beneficial opportunity to sell the property arose nearly one year prior to its completion," said Stein Haugbro, President of NCC Eiendom.
For further information, please contact:
Stein Haugbro, President NCC Eiendom, Norway, Tel +47 22 98 69 55 or +47 950 26210 Gisela Lindstrand, Press Relation Manager NCC AB Tel +46 8 585 52346 or +46 70 392 9500
All of NCC's press releases are available on www.ncc.se
NCC is one of the leading construction and property development companies in the Nordic region. NCC has annual sales of SEK 46 billion, with 25,000 employees.
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