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

The building located in the center of Upplands Vasby is to be completed in June 2018. This is Nordecon's third project on the Swedish market, as apartment buildings in the Huddinge and Nacka municipalities were concluded in the spring and summer of this year, the company said.

"It undoubtedly makes us glad to reach a topping out ceremony of yet another project. We started operating in Sweden two years ago and we are proud that the first projects have by now been concluded -- we are also on schedule with the works of the Upplands Vasby project," Priit Luman, member of the management board of Nordecon AS, said.

Vasby Terrass is an eight-story apartment building with 59 one to three-bedroom apartments with a large balcony or terrace. A 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.

Swencn OU is a company established at the beginning of 2015, 60% of which belongs to Nordecon and 40% 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.