New adjusted completion schedule for REDI’s Majakka

SRV GROUP PLC     INVESTOR NEWS    25 OCTOBER 2018, AT 8.20 AM

New adjusted completion schedule for REDI’s Majakka

The completion schedule has been adjusted for Majakka, the first tower at the REDI complex, which will comprise eight tower buildings and a shopping centre. The tower will rise up to 134 meters and has 282 apartments. REDI is being implemented by SRV in Kalasatama, Helsinki. According to the indicative schedule, Majakka was planned to be ready during May 2019. Majakka’s residents will be able to move into their new homes in June-July 2019.

The need to adjust the schedule has resulted from, among other things, facade installations, which were halted in the summer due to shortcomings detected in facade elements by SRV’s own quality control. Thanks to careful analysis made together with VTT and successful corrective measures, the installations are again under way. Windy conditions during the autumn have also adversely affected crane work to some extent. The longer than usual moving-in time required by this unique project has also been considered in the new schedule.

“We have adjusted the completion schedule for REDI’s Majakka. We want to guarantee a high-quality product for the Majakka residents and, therefore, we have taken more time for the construction. Work on Majakka has gone well and there has been continuous progress with the construction. Last week we made great progress again with the facade installations and this enables us to proceed with interior work with increased resources on several floors simultaneously. We have also added resources for construction supervision and inspection so that we can maintain first-class quality,” says SRV’s Antero Nuutinen, Senior Vice President, Housing and Regional Offices in Finland.

In the REDI project, the overall timeline will extend up to 2023. “Due to its scope, the REDI project has an exceptionally long overall timeline. In long projects, adjusting schedules can sometimes be considered to be necessary,” adds Nuutinen.

REDI is an unprecedented construction project in Finland. In the REDI complex, special features of the construction include eight remarkably high tower buildings integrated with a 64,000 square metre shopping centre and a challenging location at the intersection of the metro and highways running into the city. At the same time as tower construction is advancing upwards from the roof level, a shopping centre is functioning below. A unique aspect of REDI will be the housing services that facilitate everyday living. The first elements of the complex, the REDI shopping centre and a 2,000-space parking facility, opened in September 2018.

The Majakka residents will be notified about the exact moving dates during the spring 2019.

For further information, please contact:
Antero Nuutinen, Senior Vice President, Housing and Regional Offices, SRV, tel. +358 40 531 4918, antero.nuutinen@srv.fi
Johanna Henttonen, interim Senior Vice President, Communications, SRV, tel. +358 40 5300 778, ext-johanna.henttonen@srv.fi

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