NCC Housing in Sweden has signed an agreement with Sollentunahem for the transfer of a property combined with a housing contract in central Sollentuna, Sweden. The transaction is valued at approximately SEK 257 million (approx. €22 mln.).
NCC Construction will build 142 apartments close to Sollentuna City Center, outside Stockholm.
"Previously this year, we implemented a similar transaction with Sollentunahem and it is gratifying that we will be able to bring about more rental apartments in the Stockholm area through this additional transaction," says Filip Bjurström, Regional Manager of NCC Housing Stockholm/Mälardalen.
The transaction entails that NCC Construction Sweden will build 142 apartments close to Sollentuna City Center on a turnkey contract basis. The contract work is scheduled to commence during autumn 2009 and to continue for approximately three years.
The property in Sollentuna will be handed over on June 15, 2009. The total purchase consideration for the land amounts to SEK 70 million and will be paid in conjunction with takeover. The contracts will be registered among orders in the second quarter of 2009.