INSIDE INFORMATION: SRV has agreed main terms of agreement on the construction of office tower to Keilaniemi Espoo

SRV GROUP PLC                         INSIDE INFORMATION             24 MAY 2023   10:00 EET  

INSIDE INFORMATION: SRV has agreed main terms of agreement on the construction of office tower to Keilaniemi Espoo

SRV Construction Ltd as a project management contractor, and consortium constituted of Ilmarinen Mutual Pension Insurance Company and HGR Property Partners Oy, as a client, have negotiated and reached mutual understanding on main terms of a project management contract concerning significant size office tower in Keilaniemi. SRV expects the parties to finalize and sign the construction agreement during the following months. If actualized, the value of the project would be over 250 million euros.

The commencement of construction works is still conditional to the actualization of customary investment preconditions of property development projects, and the formation of consortiums finalized project decision. Provided the project would actualize, the construction works are estimated to begin in phases during the following months. The project would be entered in SRV´s order backlog when construction works would begin. The project would not tie up SRV´s financial capital, and its’ effect on revenue would be recognized according to the aimed schedule, on the years 2023-2026.

To ensure the requirements on project´s actualization and aimed schedule, the parties will begin, alongside with finalizing the construction agreement, the preparation of the most important subcontracting without delay.

For further information, please contact:
Saku Sipola, President & CEO, tel. +358 (0)40 551 5953, saku.sipola@srv.fi

Miia Eloranta, SVP, Communications and Marketing, tel. +358 (0)50 441 4221, miia.eloranta@srv.fi

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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. We operate in growth centres in Finland. In 2022, our revenue totalled EUR 770.1 million. In addition to approximately 1,000 in-house staff, we have a network of around 3,800 partners.

SRV – Building for life


Contact information

SRV head officePostal address:
P.O. BOX 555
FIN-02601 Espoo,
Finland

Visiting address:
Derby Business Park,
Tarvonsalmenkatu 15,
FIN-02600 Espoo
Finland

020 145 5200
info@srv.fi

Business ID - 1707186-8
© SRV Yhtiöt Oyj 2023