The transaction will be conducted as a company divestment, based on an underlying property value of approximately SEK 875 million. Transfer of the project and payment of the purchase consideration are expected to result in a positive earnings effect in the NCC Property Development business area in the first quarter of 2023.

“We are now selling Kontorværket 1, the first phase of our development project in Valby in the central parts of Copenhagen. Here we have developed a property with an optimal infrastructure and appealing architecture, and I am pleased that Industriens Pension is now taking over,” says Joachim Holmberg, Business Area Manager, NCC Property Development.

Kontorværket 1 encompasses 16,000 square meters of lettable area and also includes a basement featuring a parking garage next to the building, with space for 280 vehicles and facilities for parking bicycles.

“This is an attractive and future-proof office property, located in an area with very good infrastructure, a motorway, a nearby metro and S-train station. The 15-year lease with Genmab fits well with our strategy as a long-term owner, and we expect the property to contribute a stable return for our members for many years to come. We look forward to welcoming Genmab's experts in biotechnology,” says Søren Tang Kristensen, Head of Real Estate Investments, Industriens Pension.

Genmab A/S is a leader in the creation and development of differentiated antibody products for the treatment of cancer, with its headquarters in Denmark. Genmab’s new headquarters are expected to be completed in the first quarter of 2023.