During the third quarter of 2024, five projects from Aedifica’s investment programme were completed in the United Kingdom, Finland and Sweden for a total amount of approximately  EUR 61.5 million. The projects add capacity for 202 residents and 644 children to the Group’s portfolio. These care properties are operated by a diversified pool of well-established and experienced private and public operators.

In developing these projects, Aedifica paid special attention to energy efficiency and environmental standards. The buildings are equipped with energy-efficient systems, resulting in very good EPC ratings and contributing to the continuous improvement of the sustainability of the Group’s real estate portfolio.

Two projects have been added to Aedifica’s investment programme in Finland.

The Finnish Hoivatilat team will develop a care home in Jyväskylä (149,000 inhabitants). Jyväskylä Lahjaharjuntie will accommodate 61 elderly people requiring continuous care. Construction works have already started and are expected to be completed in the third quarter of 2025. The building will be operated by Mehiläinen. This established private operator has broad experience in providing care and social services in Finland and already operates 19 Aedifica properties.

In Kokkola (48,000 inhabitants), Hoivatilat will develop a child day-care centre. Kokkola Kruunupyyntie will welcome up to 172 children on a daily basis for childhood education. Construction works have already started and are expected to be completed in the second quarter of 2025. The property will be operated by Norlandia, an established private operator with extensive experience in providing a wide range of care services in various European countries. The group already operates 17 Aedifica properties in Finland and Sweden.

Sustainability was taken into account in the design of these care properties. All buildings will be equipped with energy-efficient systems, which should result in ‘A’ or ‘B’ EPC ratings, contributing to the continued improvement of the sustainability of the Group’s real estate portfolio.

Aedifica’s investment  in the two properties will total approximately EUR 14 million. They will be let on the basis of new irrevocable 15-year double net leases. The average initial yield on cost will amount to approximately 6.5 percent.

“In the third quarter of 2024, Aedifica completed five projects from its investment programme for a total amount of approximately EUR 61.5 million. This brings the number of completions over the first nine months to a total of 23 projects amounting to approximately EUR 197 million. In the design of these projects, we paid special attention to environmental standards and energy efficiency, contributing to the continued enhancement of our real estate portfolio. Moreover, in the past quarter we added two new development projects to our investment programme in Finland,” says Stefaan Gielens, CEO of Aedifica.

“We continue to underpin the quality of our Finnish portfolio by investing approximately EUR 14 million in the development of two brand-new care properties. In Jyväskylä, we will develop a care home that will accommodate 61 residents, while in Kokkola we will build a child daycare centre that will welcome up to 172 children. Both projects will be designed and developed by our Finnish Hoivatilat team,” says Atte Nittylä, CEO of Hoivatilat.