NCC has sold 74 apartments in the housing project Skandi Klubb, Saint Petersburg to the Finnish residential investor and rental apartments operator, Sato-Neva Oy, to an approximate value of SEK 135 million (approx. €14.9 million).
The project comprises 4,182 m² of living area plus parking and supplementary spaces in the first phase of the Skandi Klubb project in Saint Petersburg. “We are happy that our co-operation with Sato in Saint Petersburg has led to yet another business opportunity.
This sale is further confirmation that our rental business is an established part of the NCC Housing portfolio strategy” , says Joachim Hallengren, business area manager of NCC Housing.
“Saint Petersburg continues to show growth in many areas and there is an increasing need for quality residential property. We chose Skandi Klubb due to the quality guaranteed and the reputation of NCC and the very convenient location near to the business, political and cultural centers of Saint Petersburg” , said Staffan Tast, General director of Sato-Neva in Russia. Transfer and earnings recognition will occur on completion in the NCC Housing business area, during the second quarter of 2016.