Construction, Estonia, EU – Baltic States, Good for Business, Real Estate

The building located in the center of Upplands Vasby is Nordecon's third project on the Swedish market, with apartment buildings being completed in the Huddinge and Nacka municipalities last year, Nordecon said.

"We have been active on the Swedish market for three years already and I am sincerely pleased with the on schedule completion of another unique project," Priit Luman, member of the management board of Nordecon AS, said. "We gained many one of a kind experiences when operating on the Swedish market that we can implement at home in the future as well."

The building, which has a guarantee period of five years, was designed by one of Sweden's best known architectural agencies Thomas Eriksson Arkitekter. Vasby Terrass is an eight-story apartment building with 59 one to three-bedroom apartments with a large balcony or terrace and its construction cost totaled 6.3 million euros. The residents will be able to use a fully equipped gym, storage and maintenance room for bikes, hobby room and a children's playground. The gym and storage and maintenance room for bicycles will be located on the ground floor of the building.

Upplands Vasby is a locality and the seat of Upplands Vasby municipality in Stockholm County.

The builder was Swencn AB, a company belonging to the Nordecon group, and the order was placed by Swedish real estate developer Brabo Stockholm AB.

Swencn OU is a company established at the beginning of 2015, 60 percent of which belongs to Nordecon and 40 percent to Luksusjaht AS, a company owned by Sven Lennart Alpstal. Swencn AB is a fully owned subsidiary of Swencn OU in Sweden.

The core business of Nordecon is construction project management and general contracting in the buildings and infrastructures segment. Geographically the group operates in Estonia, Ukraine, Finland and Sweden. The group's parent company Nordecon AS is registered and located in Tallinn, Estonia. Nordecon's consolidated revenue in 2016 totaled 183 million euros, while profit totaled 10 million euros. The group employs approximately 740 people.