STOCKHOLM, Sweden, Sept. 1, 2003 (PRIMEZONE) -- Drott (Other OTC:DOTBF) has sold the residential properties Veken 3 and Odalbonden 6, in Stockholm, and Hovitsmannen 1, in Malmo, for a total of SEK 123 million. The price exceeds by 26 percent the external valuation dated December 31, 2002. The properties have a total rentable space of 8,402 square meters, of which 7,296 square meters comprise residential space.
The buyers are tenant-owners' associations. Occupancy will take place on September 1, 2003.
The capital gain before tax of SEK 40 million will be included in the third-quarter accounts.
To date this year, Drott has sold eight properties to tenant-owners' associations for a total of SEK 250 million (24 percent higher than the external valuation dated December 31, 2002).
Drott AB (publ) Anders Boost, President +46 (0)8-769 30 10
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