02/05/2024 | Press release | Distributed by Public on 02/05/2024 02:22
SRV GROUP PLC INVESTOR NEWS 5 FEBRUARY 2024 at 10.00 EET
SRV to build a residential block with 125 homes in Nihti, Kalasatama, Helsinki, for the City of Helsinki's housing production service
SRV and the City of Helsinki's Housing Production Service (ATT) have signed an agreement for the construction of a 125-unit residential block in Nihti, part of Kalasatama, Helsinki. The contract is worth EUR 30 million (incl. VAT at 24%) for SRV. The order will be recognised in SRV's order backlog for February 2024 and it will further strengthen SRV's order book, the value of which exceeded one billion euros at the end of last year. The work starts immediately.
The block will consist of 41 Hitas owner-occupied apartments, 84 rental apartments for Helsingin kaupungin asunnot Oy, a parking facility and one commercial unit.
The homes will be near the sea in Nihti, one of the residential areas in Kalasatama. Construction will begin in March and is scheduled for completion in 2025.
"Winning the competition to become the contractor for this project is an example of SRV's cost-competitiveness in housing construction in a challenging market environment. This project is an excellent continuation to our other projects in Kalasatama, where SRV has been highly involved in development. SRV's housing production focuses on growth areas with excellent transport connections, and Kalasatama is another excellent example of this. In addition to our own housing production, we are implementing a variety of other housing projects, such as ARA-funded rental housing for the City of Helsinki," says SRV's Jorma Seppä, Senior Vice President, Housing, Helsinki metropolitan area.
SRV will invest in lifecycle-wise energy solutions in this project.
"Housing production services takes an energy-wise approach on its newest sites by using geothermal heating systems and solar panels. In the Kalasatama area, several Housing production service's sites are being built for rental, right-of-occupancy and ownership use. We are pleased to be able to continue our good cooperation with SRV in this project", says Merja Rukko, new housing production unit manager, City of Helsinki housing production service.
Jorma Seppä, SVP, Housing Helsinki metropolitan area, SRV, tel. +358 40 727 3771, [email protected]
Heli Pulkkinen, Communications Specialist, SRV, tel. +358 50 411 0787, [email protected]
Merja Rukko, New housing production unit manager, City of Helsinki, Housing Production Service, tel. +358 (09) 310 20576, [email protected]
Images used in the bulletin: Playa Architects Ltd
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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 2023, our revenue totalled EUR 610 million. In addition to approximately 1,000 in-house staff, we have a network of around 3,800 partners.
SRV - Building for life