Astel Builds Largest Modular Apartment Project in Finland

ICON Kristalli Ilves. Image: Astel Modular
ICON Kristalli Ilves.

Finland Finland Astel, the third biggest house factories’ group in the Baltic countries, will start manufacturing one of the largest prefabricated modular apartment building projects in Finland. The new modular apartment project consists of 300 apartments in 9 apartment buildings with a total living area of 12,030 sqm and the total cost of the project is EUR 24M.


Share via e-mail

This is the largest modular apartment building development in Finland and the main contractor and builder for the project is the Estonian house factory.

“Modular buildings are manufactured up to 50 percent faster and with better quality compared to buildings constructed entirely on site. In the Baltic states, Astel has the longest experience in manufacturing timber houses. Leading a project of this scale will be a great chance to show the real estate developers the benefits that prefabricated modular construction can create,” says Raul Kinks, CEO of Astel.
When manufacturing modular buildings, up to 95 percent of the construction work, including tiling and installing a kitchen, can be finished in the house factory. Controlled factory environment and regular modular quality control allow us to ensure the high quality of the buildings. Work on the construction site doesn’t take long which means that there is less disturbance for residents and the process is more eco-friendly.
Besides manufacturing modules, the main contractor Astel also takes care of architectural planning and engineering, landscaping, building a foundation and infrastructure.
The project initiator and developer is Icon real estate fund. Icon is currently developing eight real estate projects in Finland using modular construction in several of their new developments. Icon Kristalli Ilves project is located in Riihimäki, providing an opportunity for hundreds of families to acquire a home in a new development.

The Icon Kristalli Ilves project will be fully completed in 2020.

Axel Ohlsson

Blackrock Makes New Helsinki Purchase

Finland Finland Blackrock has acquired their third Helsinki property. Through their Blackrock Eurozone Core Property Fund the company has acquired a mixed-use retail and office asset in the Helsinki CBD from OP Life Assurance Company.

“We Believe That the Volumes Will Stay on a High Level”

Finland Finland Kojamo’s CEO Jani Nieminen tells Nordic Property News about the first year as a listed company and shares his view on the Finnish real estate market.

Genesta Sells Antinkatu I in Helsinki

Finland Finland Genesta sells the office property Antinkatu 1 on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II) to Schroder Nordic Real Estate Fund.

“The List of Things to Do Is Very Long”

Finland Finland The new Managing Director Kati Kivimäki wants to make Mall of Tripla the greatest mall in the Nordics. She tells Nordic Property News about her vision, the tasks before the opening and whether she sees Swedish Mall of Scandinavia as an inspiration.

Kati Kivimäki Appointed New MD of Mall of Tripla

Finland Finland Kati Kivimäki has been appointed as the Managing Director of Mall of Tripla, the shopping centre that will be opened in Central Pasila in autumn 2019. She will start in the position in the spring.

"Finns See More Risks than Opportunities"

Finland Finland Hemsö has gone on a real spending spree in Finland in recent months – purchasing a portfolio in Turku and the Helsinki Court House for a total of EUR 380M. Head of Finland Jarkko Leinonen tells Nordic Property News of the attraction of Turku, why he prefers to work for a Swedish company and what Hemsö is looking for now.

Hemsö Invests in Turku Technology Properties

Finland Finland Hemsö is acquiring a property portfolio with eight nursing home and health care properties in Turku, Finland, as agreed in a previously announced letter of intent. Hemsö will simultaneously invest and acquire a 34.8-per cent stake in Turku Technology Properties (TTP).

"He Clicks with All of Us”

Finland Finland Cibus Nordic Real Estate’s Chairman of the Board Patrick Gylling on why Sverker Källgården was appointed new CEO, the time since the resignation of the predecessor and how close the first Swedish acquisition is.

Patrizia Sells Helsinki Office to EQ

Finland Finland Patrizia has completed the sale of the Itämerenkatu 5 office building in Helsinki for EUR 41 million. The property was sold to a Finnish investment fund, Special Investment Fund EQ Finnish Real Estate.

Sverker Källgården New CEO for Cibus

Finland Finland The board of directors of Cibus Nordic Real Estate has appointed Sverker Källgården as new CEO of the company.