NCC secures divestment for US$330m Sweden office project

Render of the Yrket 4 office building, which is scheduled to open in 2028 in Solna, Sweden. (Image: Tengbom och Walk the Room)

Litreb XII is a subsidiary of KPA Tjänstepensionsförsäkring (KPA Pension), which is part of Folksam Group, one of the country’s largest insurance companies. The occupant is expected to be Svenska kraftnät (Swedish Power Grid), a Sweden-owned public utility company and electricity transmission operator.

Joachim Holmberg, head of property development for NCC, said, “Over the next few years, we’ll develop a modern office building that will allow Svenska kraftnät to consolidate much of their operations in one location.”

The office build includes demolition and reuse of existing infrastructure at the site.

The design calls for a 52,000m² structure, which will be constructed through several building phases, NCC said. It’s to feature flexible interior spaces across about seven storeys of space. Developers are planning to achieve a sustainability certification of BREEAM Excellent on the build.

Joachim Holmberg

The sale of the property is subject to permitting, transfer, and notification according to the new Foreign Direct Investment (FDI) Act and the approval of the buyer by the tenant.

Initial demolition will start in the first quarter of 2025 with construction contracts expected to be signed sometime next year.

Project completion is planned for 2028.

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