Media: Danish pension money in major Greenlandic project

The most extensive urban development plan in Greenlandic history, involving 1,600 residences, non-residential construction, a stadium, and a two-lane road tunnel, is to be realized by means of Danish pension funds, says Greenlandic media.

A large-scale urban development plan for Greenland's capital, Nuuk, has only just been presented by city mayor of Nuuk, Asii Chemnitz Narup, who hopes for construction to commence at the beginning of next year.

The plan will amount to DKK 4-5 billion (USD 568-710 million), and includes 1,600 residences, non-residential construction, schools, and day-care institutions, says Greenlandic media Sermitsiaq,

According to Sermitsiaq, the group of investors responsible includes Greenlandic pension fund Sisa, but also Swedish SEB and Denmark's ATP and AP Pension are mentioned in the plan.

However, when inquired by Sermitsiaq, ATP disclaimed knowledge of the project.

The project will result in a new housing estate in Nuuk, Siorarsiorfik, which will be connected to the suburb Qinngorput via a one-kilometer road tunnel.

English Edit: Marie Honoré

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