DENMARK - ATP's direct property arm has signed a deal to expand a shopping centre in Aalborg, adding an extra 3,000 square meters of new shops converting existing retail space.
ATP Ejendomme (ATP Real Estate Denmark) appointed NCC Construction to build onto the Aalborg Storcenter, which the pension fund subsidiary has owned since the mid 1990s.
Lasse Winther Thorsen, head of property at ATP Ejendomme, said: "We are very confident about NCC because they have just the right skills and qualifications for the difficult task of building a shopping centre with over 6m customers a year."
The value of the deal was not disclosed.
A new 3,000 square meter section will be added, and 1,000 square meters of existing shopping centre space will be converted.
As part of the contract, a new underground parking level of 1,000 square meters will also be built.
Externally, NCC will establish a new bus parking area, renew the existing car park and adapt the surrounding area, adding greenery, ATP Ejendomme said.
As it is now, the shopping centre totals 46,000 square meters, with half of that occupied by a BILKA hypermarket and owned by Dansk Supermarked, and the other half housing individual retail units and owned by ATP.
NCC was the developer of the original part of the shopping centre.
ATP Ejendomme said COWI was acting as its as adviser, Kjærsgaard & Andersen as engineers and Aarstiderne as architects.
The contract was signed on 7 December, and construction is planned to finish next autumn.