Novo Holdings and Industriens Pension participate in consortium developing The Railway District (Jernbanebyen) in Copenhagen
Plesner advised Novo Holdings and Industriens Pension in connection with their participation in a consortium with NREP and DSB to develop the new Copenhagen neighbourhood The Railway District (Jernbanebyen).
The Railway District, located in the area between the Copenhagen districts Vesterbro, Kgs. Enghave and Teglholmen, is to be developed into a green neighbourhood that will set new standards in terms of sustainability and health in connection with urban development.
Plesner advised Novo Holdings and Industriens Pension on the signing of agreements to ensure a joint long-term partnership where NREP is engaged by the consortium to drive the development of the Railway District.
Today, The Railway District is owned jointly by DSB Ejendomme and Freja Ejendomme (the property company of the Danish State). In 2021, NREP, Industriens Pension and Novo Holdings entered into an agreement with Freja Ejendomme to acquire Freja Ejendomme's site in the Railway District. DSB Ejendomme contributes its site which constitutes the largest part of the total area of the Railway District.
Accordingly, the parties will jointly own and develop the approx. 365,000 sqm urban development area.