NCC Property Development enters into preliminary agreement to develop a commercial property

Avance advises NCC Property Development Oy in a development project of a commercial property in Malmi, in which NCC would acquire the property from Revelon Oy with the target of obtaining a city plan change and developing the property for residential, retail and care home use.

The parties have signed a preliminary agreement on the project and re-zoning of the property is in process. The contemplated closing of the transaction is conditional upon a legally binding city plan change.