MT Højgaard Holding A/S: MT Højgaard Property Development sells business project in Copenhagen’s South Harbour

MT Højgaard Holding’s business unit MT Højgaard Property Development has entered into an agreement to sell a business project in Copenhagen’s South Harbour. The sale includes land, project development and a turnkey project for the construction of an office building of approximately 10,000 square meters.

The buyer is a company owned by the four trade unions Blik- og Rørarbejderforbundet (plumbing and pipe workers), Dansk El-Forbund (electricians), Malerforbundet i Danmark (painters) and Dansk Journalistforbund – Medier & Kommunikation (journalists, media and communications professionals), which will move to the new ”Union house” when it has been completed. MT Højgaard Property Development is also a minority shareholder (17.5%) in the company.

Construction works will commence in spring 2024 and are scheduled for completion in Q2 2026. The project will be completed in accordance with sustainable and energy friendly standards with DGNB Gold and DGNB Heart certifications.

"We really look forward to constructing and handing over a state-of-the-art and certified office building to the unions in 2026 to support their joint synergies and their independence at the same time. For MT Højgaard Property development, this construction project will mark the end of our year-long development efforts and presence in Copenhagen’s South Harbour, which we are very proud of,” says Mads Bøgelund Lauritzen, CEO of MT Højgaard Property Development.

The four unions will not use all 10,000 square meters, and there is thus room for other interested unions to become part of the community.

The lot will also have a new REMA 1000 store and 140 family and youth housing units, which MT Højgaard Property Development will construct for PFA Ejendomme.

MT Højgaard Holding’s 2023 outlook remains unchanged with expected revenue of DKK 9.5-10.0 billion and operating profit around DKK 400 million before special items.

Further information:
CEO Steffen Baungaard and CFO Rasmus Untidt can be contacted on telephone +45 31 21 68 72.

Attachment

• MTHH_Investor news 8Jan24