Sweden's NCC Property Development has divested the Sveitsin Portaali shopping center and a traffic service station development in Hyvinge, Finland for about SEK 230 mln (EUR 25.4 mln). NCC said the sale would generate a positive result of about SEK 40 mln (EUR 4.4 mln), which will be included in the results for the fourth quarter of 2006. The shopping center, with a total retail offering of 25,000 m2, will focus on home and interior design. It is due for completion for the Christmas season in 2007.
Sweden's NCC Property Development has divested the Sveitsin Portaali shopping center and a traffic service station development in Hyvinge, Finland for about SEK 230 mln (EUR 25.4 mln). NCC said the sale would generate a positive result of about SEK 40 mln (EUR 4.4 mln), which will be included in the results for the fourth quarter of 2006. The shopping center, with a total retail offering of 25,000 m2, will focus on home and interior design. It is due for completion for the Christmas season in 2007.
'Shop owners and consumers appreciate commercial centers with a concentrated offering on a single theme,' said Petri Anttalainen, Commercial Site Director at NCC Property Development.
The mall was bought by EjendomsInvest, a company active in the Finnish property investment market. The company has previously invested in NCC's projects, including Porttipuisto and Budget Sport in Vaanta and a commercial center in Gruvsta and Ankkuri in Lahti.
