SWENCN AB belonging to the Nordecon group and Bostadsrättsföreningen Styrmannen 49 belonging to the Swedish real estate group Innovation Properties AB concluded a contract to build a five-storeyed apartment building in Stockholm. The cost of the construction works is about 8.4 million Euros, plus VAT.

 “After an intense period of preparation, concluding a first contract in Sweden is naturally welcome news.  However, it is clear that entering a new market involves a series of challenges and the real aim is to ensure the sustainable development of the company in Sweden for years to come,” said Jaano Vink, the chairman of the board of Nordecon AS. “I believe that this is a good start and the efforts made for this will pay off in any case.”

SweNCN OÜ is a company that was founded in the beginning of this year and of which 60 per cent belongs to Nordecon and 40 per cent to Luksusjaht AS belonging to Sven Lennart Alpstål. SweNCN will begin to provide the construction service of residential and non-residential buildings mainly in the region of Central Sweden through the Swedish subsidiary SWENCN AB.