NCC sells Norwegian office projects for SEK 2b

NCC has sold two Norwegian office projects, along with the remaining building rights in the area of Helsfyr, in Oslo, Norway, to Valle Eiendom Holdings for close to SEK 2 billion ($207 million).

The deal will be split into two phases: the first to go through in the fourth quarter of this year, and the second in 2021, according to NCC.

The Valle Wood and Valle View office projects encompass almost 60,000 square meters (645,834 square feet), and are located near major lines of transportation, such as the E6, subway, airport, buses and thoroughfares.

Valle Wood, Norway’s largest commercial property made out of solid wood, was completed this summer, while Valle View is scheduled for completion in the second quarter of 2021. Valle Wood has an occupancy rate of 87 percent and Valle View’s occupancy is 69 percent, to be let to Norwegian UDI.The deal also includes 27,000 square meters (290,625 square feet) of additional building rights for offices, which include 83