NCC and Aros will now initiate the next stage of the development of Järva Krog by partnering to construct 213 new rental apartments in the Femöringen project.

“Femöringen is the second project in Järva Krog in Solna that will be produced together with NCC. We are pleased to be able to start the project according to plan and look forward to handing over a residential rental apartment project of high quality in a great location to Patrizia,” says Magnus Andersson, CEO of Aros Bostad.

Femöringen is situated in the neighboring block to NCC’s head office and partially overlaps the adjacent property, the Nova office project, which is being developed and constructed by NCC. NCC’s assignment comprises the new construction of rental apartments, which will be distributed across two buildings with a shared parking garage. The apartments will range from studios to four-bedroom units.

“In the Femöringen project, we are continuing our positive collaboration with Aros Bostad and our shared, long-term involvement in the area surrounding Järva krog. We can leverage the broad-based expertise that exists throughout NCC, and by being involved from the very start, we can take the lead and ensure a first-rate process toward a successful end result,” says Henrik Landelius, Head of NCC Building Sweden.

The project relates to the land and housing development rights that NCC divested to Aros Bostad. Profit recognition of the first part of the sale will occur in the first quarter of 2023 as previously announced. Construction is scheduled to start in the first quarter of 2023 and is expected to be completed in autumn 2026.

The order value of the transaction is approximately SEK 400 million and it will be registered among orders in the NCC Building Sweden business area in the first quarter of 2023.