NCC to invest EUR 107m in Malmo mixed-use project

Finnish firm NCC has started the construction of Triangeln, a mixed-use development programme in central Malmo, Sweden. The company said that it plans to invest SEK 1 bn (EUR 107 mln) in the project, which consists of a shopping mall on two floors and housing and retail premises on the upper levels.

The project, offering some 40,000 m² of commercial space, will be implemented in several phases, with a two-storey underground car park and retail spaces representing the first phase. Completion of the scheme is expected in 2014.

The property, designed according to Breeam energy efficiency and sustainability standards, will include 12,000 m² of retail space, 7,000 m² of office accomodation as well as 160 apartments. The site is located 50 metres north of the Citytunneln, Malmo's largest station and the third largest in Sweden, where up to 40,000 people per day are expected to enter and exit the new underground railway on completion in 2011.

The project is located alongside an existing core of buildings comprising a two-storey retail area, a hotel, offices, and homes owned by property company Vasakronan, which intends to invest SEK 360 mln in revamping the facilities.