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April 26, 2015 10:40 PM ET

Real Estate Management and Development

Company Overview of NCC Property Development AB

Company Overview

NCC Property Development AB develops and sells commercial properties. The company engages in developing offices, retailing and logistics project. NCC Property Development AB was founded in 2007 and is based in Solna, Sweden. NCC Property Development AB operates as a subsidiary of NCC AB.

Vallgatan 3

Solna,  170 80

Sweden

Founded in 2007

Phone:

46 8 58 55 10 00

Fax:

46 8 58 55 30 15

Key Executives for NCC Property Development AB

Chief Executive Officer
President
Age: 42
Chief Executive Officer of NCC AB and President of NCC AB
Age: 50
Head of Marketing & Communications and Senior Vice President of Marketing & Communication
Age: 51
Compensation as of Fiscal Year 2014.

NCC Property Development AB Key Developments

Vastfastigheter AB Selects NCC Property Development AB to Construct New Children's Hospital in Gothenburg

Vastfastigheter AB has selected NCC Property Development AB to construct a new children's hospital in Gothenburg, Sweden. The new hospital will be an extension of Queen Silvia's Children's Hospital, which is part of Sahlgrenska University Hospital. The older premises will also be refurbished and linked to the new hospital. NCC's assignment includes constructing the hospital building and connections to the existing hospital and creating an attractive site environment in the area. Having single rooms will also be better for parents and provide the opportunity for overnighting. The single rooms will contribute to better hospital hygiene with less risk of spreading infections. The land and preparatory work will commence in spring 2015 and occupancy will occur successively from 2018 to 2020. NCC and Vastfastigheter will run the project in collaboration, with the first phases including preparing the organization, project planning, construction documents and pricing of the project. The order value is estimated at approximately SEK 850 million.

NCC Property Development Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

NCC Property Development reported earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales of SEK 645 million against SEK 102 million reported last year. Net sales were higher year-on-year and the project that was recognized in profit in Denmark accounted for the large portion of sales. Operating profit was SEK 36 million against SEK 8 million reported last year. For the nine months, the company reported net sales of SEK 1,961 million against SEK 1,367 million reported last year. Most of the net sales in the period derived from the projects recognized in profit. Operating profit was SEK 126 million against SEK 238 million reported last year.

Citycon Oyj to Form Joint Venture with NCC Property Development AB

Citycon Oyj has entered into a joint venture agreement with NCC Property Development AB for the redevelopment and letting of Molndals Galleria, Gothenburg, Sweden. Both Citycon and NCC will participate in the redevelopment project and Citycon intends to purchase NCC's share after the project is completed. Citycon's total investment is estimated at around EUR 120 million.

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Office Project in Mölndal
 

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