SRV sells 240 residential units and space for a children’s nursery to PATRIZIA – construction of the fourth tower in Kalasatama, Helsinki begins

SRV GROUP PLC     INVESTOR NEWS      22 DECEMBER 2021    08:00 EET

SRV sells 240 residential units and space for a children’s nursery to PATRIZIA – construction of the fourth tower in Kalasatama, Helsinki begins

SRV and PATRIZIA, a leading partner for global real assets with assets under management of more than EUR 48 billion, have signed a contract for the construction of a residential tower providing rental housing and a space for a children’s nursery in the Kalasatama district of Helsinki. The agreement is valued at approximately EUR 101 million. The fourth tower, called T7, is located in the southwest corner of the REDI shopping centre, and it will have unobstructed views to the south and west towards the centre of Helsinki and the sea beyond. The tower will rise to a height of 98 metres above sea level. The total area of rental housing in the tower will be approximately 10,000 m2, including a children’s nursery. Construction is due to begin in January 2022, and the project will be entered into SRV’s order backlog in the first quarter of the year.

“This deal is an excellent example of SRV’s strength in housing production – our ability to provide housing in desirable locations in and around Helsinki where demand from both prospective tenants and investors has been particularly robust in recent years. I want to thank the PATRIZIA team for a smooth and professional transaction. Being able to take this project to the next stage together with an investor like PATRIZIA is an honour for our team”, says Jorma Seppä, SRV’s Senior Vice President, Housing in the Helsinki Metropolitan Area.

Asunto Oy Helsingin Visio is located on top of the REDI shopping centre, which was developed by SRV. The 24-storey building will have 240 residential units and 395 square metres of space for a children’s nursery. Communal areas for residents, including a sauna and a roof terrace, will be provided on the 21st floor. The residential units will have easy access to the REDI shopping centre and parking garage. The project is scheduled for completion by the end of 2023.

As Oy Helsingin Visio is a development project of SRV. Development projects are housing developments that SRV mainly sells to investors before construction begins.

 

For further information, please contact:
Jorma Seppä, Senior Vice President, Housing, Helsinki Metropolitan Area, tel. +358 (0)40 727 3771, jorma.seppä@srv.fi

Tuomas Kokkila, Head of Transactions, tel. +358 (0)50 469 1822, tuomas.kokkila@srv.fi
Johanna Ylitalo, Communications Manager, tel. +358 (0)40 510 8604, johanna.ylitalo@srv.fi

Images featured in the article: Helin & Co Architects, SRV

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SRV in brief

SRV is a developer and innovator in the construction industry. Our mission is to create a new lifecycle-wise reality in which construction-related solutions safeguard well-being, financial value and the best interests of users, residents and the environment – for years and generations to come. Our genuine cooperation and enthusiasm for our work comes across in every encounter. Sustainability is reflected in all our activities.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland and Russia. In 2020, our revenue totalled EUR 975.5 million. In addition to approximately 1,000 in-house staff, we have a network of around 4,200 subcontractors.

SRV – Building for life

 

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