The business unit of MT Højgaard Holding, MT Højgaard Projektudvikling, has entered into an agreement for the development, construction and sale of a project in Niam for DKK 577 million. Niam is one of the largest private landlords in the Nordic countries.
The project includes 27,578 square meters of new construction distributed among 9 apartment buildings with a total of 301 apartments on the former Dalum paper mill district in Odense. Construction work is expected to start in September 2021 with the expected completion of the last phase of the project in the first quarter of 2024. Construction work will be carried out by MT Højgaard Danmark and Raunstrup, which is part of Enemærke & Petersen.
Following the agreement with Niam, planning is now in place for the 45,000 square meters residential, commercial and commercial developed by MT Højgaard Projektudvikling as a mix of new construction and renovations of parts of the worthy old factory buildings. to be preserved and located on the edge of the abyss. from the stream to Odense. MT Højgaard Projektudvikling has entered into agreements for the sale or conditional sale of projects comprising a total of 36,500 square meters, and the company will build 62 terraced houses and an apartment building with 19 owner-occupied apartments on the remaining part of the building. the area with a view to sell these units to end users.
The Dalum paper mill is the largest project of MT Højgaard Projektudvikling. The agreement with Niam Danmark is therefore an important step in efforts to reduce the capital tied up in the total real estate portfolio of MT Højgaard Holding group, which was worth DKK 511 million at the end of the first quarter of 2021.
“We look forward to working with Niam to create an attractive new residential area with varied housing forms and respect for the unique history and soul of the area of Denmark’s oldest paper mill. This is an exciting project that allows us to leverage the skills of the MT Højgaard Holding group to transform a former industrial area into a new and diverse residential area, ”said Finn Mortensen, Director of Project Development at MT Højgaard Projektudvikling.
The deal does not change MT Højgaard Holding’s previously announced outlook for 2021, where the group expects revenue of around DKK 6.8 billion and operating profit of DKK 160 before special items and special depreciation. .
MT Højgaard Holding CEO Morten Hansen or MT Højgaard Projektudvikling Project Development Director Finn Mortensen can be contacted by phone on +45 22 70 93 65.
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