SRV GROUP PLC INVESTOR NEWS 6 MAY 2026 10:00 EEST
SRV to build a new building for Luolavuori School – project to start with a development phase
SRV and the real estate company Kiinteistö Oy Turun monitoimitilat, owned by the City of Turku, have signed a development-phase agreement on the construction of a new building for Luolavuori School. The project will be implemented as a cooperative project management contract and will start with a development phase in May 2026. The target price of the project management contract is approximately EUR 26 million. At the end of the development phase, the client will decide whether to proceed to the implementation phase.
The project will be recorded in SRV’s order backlog at the start of the implementation phase. It supports SRV’s strategic objective of strengthening its leading position in cooperative and other forms of contracting—areas in which the company is particularly strong, especially in public-sector projects.
The development phase is estimated to last nine months. The project’s plans and schedule will be specified during the development phase. The aim is to take the new facilities into use for the spring semester of 2029.
“As Finland’s largest builder of non-residential premises, we are bringing our extensive expertise in modern learning environments and collaborative contracting to the Luolavuori School project. The cooperative contract model is particularly well suited to school construction and enables the project to be delivered flexibly and in close cooperation with the client,” says Jani Peltomäki, SRV’s Regional Director for Southwest Finland.
The new Luolavuori School building will be constructed on the site of the former school building that has been demolished. The school will serve as a local school for around 300 primary school pupils in the area. The premises will also include small classes providing intensified and special support for approximately 140 pupils, as well as pre-primary education for around 40 children. The planned size of the school is just over 9,000 gross square metres. A medium-sized sports hall of just over 700 square metres will also be built and will serve other residents in the area. In the design, special attention will be paid to the accessibility of the premises as well as to the property’s energy efficiency.
“It is important for us to create safe and healthy spaces that serve pupils, staff and city residents throughout their long lifecycle. The new Luolavuori School building will meet the requirements of the City of Turku’s climate plan for energy efficiency and sustainable construction, as well as the P1 cleanliness classification and Tervetalo criteria,” comments Seppo Saaristo, CEO of Kiinteistö Oy Turun monitoimitilat.
In Southwest Finland, SRV has previously delivered the Wintteri multi-purpose building in Uusikaupunki (completed in 2025), the Pääskyvuori School in Turku (completed in 2023) and the Hovirinta School in Kaarina (completed in 2022).
For more information:
Jani Peltomäki, Regional Director, Southwest Finland, SRV, tel. +358 (0)44 085 0412, jani.peltomaki@srv.fi
Heidi Tetteh, Communications Manager, SRV, tel. +358 (0)40 662 3220, heidi.tetteh@srv.fi
Seppo Saaristo, CEO, Kiinteistö Oy Turun monitoimitilat, tel. +358 (0)50 433 3382, seppo.saaristo@tmtt.fi
Attached image: Arkkitehtipalvelu Oy
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SRV in brief
SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the wellbeing of both the environment and people into consideration. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter – and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.
Our company, established in 1987, is listed on the Helsinki Stock Exchange. Our operations focus on growth centres in Finland. In 2025, our revenue totalled EUR 705.6 million. In addition to approximately 700 in-house staff, we have a network of around 2,900 partners.
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