With this transaction, we’re continuing the development of high-quality homes in the attractive neighbourhood of Vuosaari. The sale gives people who don’t want to, or are unable to, purchase their own home access to an affordable home, says Joachim Hallengren, President and CEO of Bonava.

The neighbourhood in question is located in Vuosaari in east Helsinki, a short walk from the sea, where the beach and the natural environment enable a variety of outdoor activities. The area is also close to a shopping centre, schools, and public transportation.

Sitadelli 2 is the second phase of a neighbourhood where Bonava is planning to construct just over 500 housing units. The area is scheduled to be completed in 2025.

Bonava has become the first residential developer in Europe to receive approval from Science Based Targets initiative for its climate targets. Until 2030, Bonava will reduce the company’s negative impact on the climate by 50 per cent by adopting climate targets that conform to the IPCC’s recommendation to limit global warming to 1.5 °C.