NCC divests its share in shopping center project

Avance advises NCC Property Development in the divestment of its share of the Matinkylä Shopping Center project in Espoo, Finland, to its business partner Citycon. The purchase price for NCC’s portion of the jointly owned project company is approx. EUR 80 milllion.

The project includes extensions to the already established Iso Omena Shopping Centre and to the new Matinkylä Metro Center, comprising approximately 25,400 square meters of leasable retail space and about 600 parking spaces.

With the new extension, Iso Omena will become one of Finland’s largest shopping centers.