DENMARK – PKA, the pensions administrator for five Danish pension funds, is planning to build a harbour-side block of 91 apartments in Copenhagen with 95,00sqm of space.
The company said it has bought a plot from state organisation By & Havn (City & Port) on Sandkaj in the Århusgade quarter.
It said the quay of Sandkaj will become one of the most important harbour-front locations in the district of inner Nordhavn, with views onto the UN City complex on the other side of the port.
Nikolaj Stampe, head of property at PKA, said: "Nordhavn is a very exciting district of Copenhagen in the process of rapid development, which will give the city a completely new dimension."
PKA was glad to have the opportunity to put its mark on the development of the area, as well as creating a good return for its membership, Stampe said.
A spokesman for PKA said the parties had agreed not to disclose the size of the investment.
But the company said it had invested DKK12bn (€1.6bn) in properties in Denmark and owns 6,000 apartments. It also has around DKK2bn invested in property abroad, it said.
Construction work is expected to start as soon as the autumn with the first occupants able to move in from spring 2015.
The building will consist of a square construction up to five stories high with roof terraces, including a 95m2 shop on the ground floor.
The building has been designed by Ernst + Kindt-Larsen, and Corpus Development is the turnkey contractor for the project.