NCC to build rental apartments for Icecapital valued at SEK 330 million

NCC to build rental apartments for Icecapital valued at SEK 330 million 

NCC Construction Finland has been commissioned to build 195 rental apartments
for Icecapital Housing Fund I Ky. The order value is approximately SEK 330
million.

The order is divided into 144 apartments on two plots of land in Espoo, 31
apartments in Turku and 20 in Oulu. The properties will be built on centrally
located land that is currently owned by NCC. Upon completion, local companies
specializing in property management will be responsible for leasing out and
managing the properties. 

The order is part of a larger declaration of intent, which includes an agreement
that NCC will build approximately 600 apartments for Icecapital.  

Icecapital Housing Fund I Ky is Finland's largest property fund specializing in
rental apartments. Since the fund was established in March 2006, it has acquired
about 1,600 newly built 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 will commence during autumn 2008 and is scheduled for completion in 2010. 
The order value will be registered during the third quarter of 2008. 
For further information, please contact:
Juha Korkiamäki, Regional Director, NCC Construction Ltd, +358 (0)50 538 4663
Lovisa Lagerström Lantz, Acting Press Relations Manager, NCC Group, +46 (0)8 585
523 46, +46 (0)70 592 45 46
Hannu Parikka, Managing Director, ICECAPITAL Real Estate Asset Management Oy,
+358 (0)9 6220 5020


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 2007 sales of fully SEK 58 billion, with 21,000
employees.