NCC to sell land and housing contract in Finland for SEK 590 million

NCC to sell land and housing contract in Finland for SEK 590 million

NCC Housing in Finland has signed an agreement totaling approximately SEK 590
million with Icecapital Housing Fund II pertaining to the transfer of land with
an accompanying housing contract. The apartment buildings, with a total of 330
apartments, are to be constructed in Helsinki, Vantaa, Kerava and Jyväskylä.

“A year ago, we executed a similar transaction with Icecapital and we are
delighted to able to contribute in this manner to more rental apartments coming
on the market,” says Juha Korkiamäki, Country Manager for NCC Housing in
Finland.

The order is part of a previously communicated larger statement of intent and
NCC announced an order of 195 residential units as early as September 2008 to a
value of SEK 350 million. 

Icecapital Housing Fund II is one of Finland's largest property funds that
specialize in rental apartments. Since the fund was established in March 2006,
it has acquired approximately 1,600 newly constructed or renovated rental
apartments. The fund is backed by Pharmacy Pension Fund, Etera Mutual Pension
Insurance Company, Varma Mutual Pension Insurance Company and Mutual Insurance
Company Pension Fennia.

Work on the rental apartments has commenced and will be completed in 2011. 

The order will be registered in the third quarter of 2009.

For further information, please contact:
Juha Korkiamäki, Country Director, NCC Housing Finland, +358 (0)50 538 46 63
Ulf Thorné, Press Relations Manager, NCC AB, +46 (0)8 585 523 46, +46 (0)70 214
77 27


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 had in 2008 sales of fully SEK 57 billion, with 20,000
employees. NCC Housing develops and sells housing in selected markets in the
Nordic region, Germany, the Baltic countries and St. Petersburg.