SRV and Localtapiola Asuntosijoitus Suomi KY have signed a framework agreement for the construction of 528 market-financed rental housing units. Under this framework agreement worth approximately EUR 100M, SRV will construct several apartment houses for Lähitapiola in the Helsinki metropolitan area, Turku and Jyväskylä. Project-specific agreements will be signed before the construction work at each site is started. All buildings will be completed during 2018 and 2019.
The framework agreement includes the construction of 140 residential units next to the new Niittykumpu metro station in Espoo. In addition, 85 residential units will be constructed for Localtapiola in the immediate vicinity of the Jokeri Light Rail Line stop in Perkkaa, Espoo.
“Furthermore, the 95 residential units that will be built in Kerava will be located within a mere 20-minute train journey from the Helsinki city centre, so the common denominator for the buildings is their excellent location along the metro and tram lines. We are already one of the major housing construction companies in the Helsinki metropolitan area, and our intention is to continue focusing on rapidly growing urban centres and, above all, on areas close to good rail connections,” says Antero Nuutinen, who is responsible for SRV’s housing business area in Finland.
In addition, the framework agreement with Localtapiola includes the construction of 118 residential units on Kirkkotie in Turku, 54 residential units in Sarfvik in Kirkkonummi, and 36 residential units in Jyväskylä.
“With this agreement, we can acquire customised small and sought-after apartments. The apartments are well equipped, just like our existing ones. In addition, these buildings have also been prepared such that electric cars can be charged at the buildings’ parking spaces,” says Kim Särs, Director of Real Estate, Lähitapiola.
The revenue recognition for the residential units included in the agreement will be carried out based on the completion rate. The buildings will be added into SRV’s order backlog at various phases during 2017.
SRV Constructs Housing Units for Localtapiola
Finland — SRV will construct 528 rental housing units for Localtapiola in the Helsinki metropolitan area, Turku and Jyväskylä.
Maria Olsson Äärlahtmaria@nordicpropertynews.com