NCC to Construct Residential Block in Bromma for SEK 574 Million

Regulatory News:

NCC (STO:NCCA) (STO:NCCB), in cooperation with AB Stockholmshem, will construct 350 rental apartments in the Mariehäll city district of Bromma in Stockholm, Sweden. The project also includes a new preschool and commercial premises. The order is worth SEK 574 million.

The new residential block will be constructed in the Linaberg 19 block, where the existing building has been demolished to build new housing.

"We will offer attractive, high quality rental units in a residential area with a distinct neighborhood atmosphere. Demand for rental units is very high and Mariehäll will have everything from one-bedroom apartments to five-bedroom apartments,” says Patrik Andersson, Head of Construction & Engineering at Stockholmshem.

The 350 housing units will be spread over two blocks, the southern block with 220 apartments and 130 apartments in the northern block. NCC will also construct a preschool, a cafe, a store and office premises in the area.

Stockholmshem and NCC will run the project in partnership.

"It involves us, Stockholmshem and project consultants establishing an open and trusting cooperation, based on shared goals, joint activities and joint financial targets,” says Henrik Landelius, Head of NCC Building Sweden.

Preparations are under way. Construction is scheduled for completion in spring 2020. The first tenants are scheduled to move in the spring of 2019.

The project will be registered among orders during the third quarter of 2016 in the NCC Building business area.

This is the type of information that NCC could be obligated to disclose pursuant to the EU Market Abuse Regulation. The information was issued for publication through the contact persons above, on July 11, 2016, at 2.00 p.m. CET.

About NCC Our vision is to renew our industry and provide superior sustainable solutions. NCC is one of the leading companies in construction, property development and infrastructure in Northern Europe, with sales, excluding Bonava, of SEK 53 billion and 16,000 employees in 2015.

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