Sjælsø Gruppen acquires residential development project in Ørestad Syd (DK)

Sjælsø Gruppen A/S has acquired a large site of Ørestadsselskabet with a possibility to build 20,000 m² residential units. The site is situated in the new part of town "Ørestad Syd", a very attractive natural resort, where the district plan recently has been approved.

The site is located on the southern point of Ørestad Syd, and there will be a magnificent view from the apartments of the natural resort.

Eastwards and to the south the apartments will be built directly in the future lake area, and on the western side the building will defined by a wide canal street. Thus, this project is very attractive situated in a new exiting part of town.

The total project value is expected in the range of DKK 600 million. This lease does not induce Sjælsø Gruppen to revise its economic expectations. Thus, the expected result before tax for 2006 remains approx. DKK 600 million.

Source: sjaelsoe

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