SOLNA, Sweden--(BUSINESS WIRE)--Regulatory News:
NCC (STO:NCCA) (STO:NCCB) has been commissioned by AMF Fastigheter to create, on a partnering basis, two new Choice hotels with a total of 540 rooms in existing properties by the Gallerian shopping mall in Stockholm. The order is worth SEK 600 million.
The properties that are to be refurbished as two hotels are Swedbank’s former office premises at Brunkebergstorg and above the Gallerian mall. In addition to refurbishment, two stories will be added to the property. The hotel operator will be Choice Hotels.
The project will be a feature of AMF Fastigheter’s exciting city conversion initiative called Urban Escape Stockholm. In the very heart of Stockholm city, a new urban space is being created where Swedish and international companies can grow and gear up their operations.
“Our goal is to create two hotels and a restaurant concept that is tailored just for Urban Escape Stockholm and Brunkebergstorg. In this project, in addition to the hotel concept, we will develop creative office environments, restaurants, plazas and roof areas everything in harmony, says Mats Hederos, CEO of AMF Real Estates.
Since construction will take place in the heart of central Stockholm, NCC has placed great emphasis on implementing the project while causing minimal disruptions to the surroundings. For example, the shopping mall on the ground floor will be able to operate as usual during the entire period of construction.
The project will be environmentally certified according to LEED Gold, the second highest LEED classification.
“Following refurbishment, the office properties from the 1970s will be transformed into state-of-the-art hotels with significantly higher environmental performance than today,” says Svante Hagman, Business Area Manager of NCC Construction Sweden.
The project will be implemented on a Partnering basis; a cooperative format whereby the key participants jointly resolve issues by means of an open dialog focusing on the best interests of the project.
Construction will commence in March 2015. The hotels are scheduled to open during the spring of 2017. The order will be registered during the first quarter of 2015 in the NCC Construction Sweden business area.
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on February 9, 2015, at 11 a m.
Our vision is to reshape our industry, providing superior sustainable solutions. NCC is one of the leading companies in construction, property development and infrastructure in Northern Europe, with sales of SEK 57 billion and 18,000 employees in 2014. The NCC share is listed on the NASDAQ Stockholm exchange.
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