SRV GROUP PLC INVESTOR NEWS 26 April 2023, 11.15 EET
Construction of Laakso Joint Hospital begins
Kiinteistöosakeyhtiö Laakson yhteissairaala (real estate company), SRV, the Laakson LATU consortium, the Unitas consortium and Granlund have signed an order for the first implementation phase of the Laakso Joint Hospital. The order is valued at approximately EUR 90 million and will be recognised in SRV’s order backlog for April 2023. SRV was selected as the project developer and implementer in April 2021. The project's total value to SRV currently stands at approximately EUR 800 million. The project will be recognised in SRV’s order backlog as orders for the phases are placed from 2022 to 2030. The project will not tie up any of SRV’s capital.
The first order of the implementation phase covers about half of the site's infrastructure works. SRV Infra is responsible for underground infrastructure works and excavations, and Destia for above ground infrastructure works and excavations.
Kiinteistöosakeyhtiö Laakson yhteissairaala (real estate company) is responsible for the construction contracting and financing of the Laakso Joint Hospital project. The real estate company is owned by the City of Helsinki (50%) and HUS (50%). The Laakso Joint Hospital Alliance is responsible for project implementation, and the prime contractor is SRV. “The project has been developed in close cooperation with the client and our partners in the alliance to achieve the best possible outcome. We are pleased to be able to utilise our expertise and the experience we have gained in earlier collaborative projects, where we have delivered genuine project value by working with the customer and partners,” says Ossi Inkilä, project manager of Laakso Joint Hospital Alliance and SRV’s Unit Director, Business Premises, Helsinki Metropolitan Area.
“During the development phase of this first sub-project the alliance partners have worked together to identify the optimal solutions to meet the project’s qualitative and financial objectives. At the same time, other sub-projects have also been developed. It is great that we will be carrying out this demanding project with experienced partners like SRV,” says Marko Virtanen, Managing Director of the Kiinteistöosakeyhtiö Laakson yhteissairaala real estate company.
Preparatory work in the hospital area began in spring 2022. The project will be planned and implemented in phases from April 2022 to December 2030. Hospital activities will also begin in phases, starting in 2027.
Representatives of end-users closely involved
The future users of the hospital – the personnel of HUS and the City of Helsinki’s Social Services, Health Care and Rescue Services Division – play an important role in the project. They are working closely with the designers and builders. This ensures that the end result meets the needs of personnel, patients, clients and their relatives. The design process involves building model rooms so it is possible to simulate hospital activities and verify the functionality of the premises.
Lifecycle objectives drive the design, engineering and implementation
The new buildings in the Laakso Joint Hospital project are being designed and implemented to achieve an energy efficiency rating of at least 10% better than the national regulatory level and in compliance with the EU Taxonomy, a sustainability classification system. The project also involves renovating two existing buildings, including energy-efficiency improvements. Energy production will utilise waste heat generated in the area and renewable energy produced on-site. Geothermal wells will be drilled in the area, and the new buildings will have solar panels on the roofs. The waste heat from the buildings will be recovered and recycled – for example, 80% of the waste heat from ventilation will be recovered.
Recycling and reuse of construction site and demolition waste to be promoted – waste sorting rate of nearly 99% on the site
Several buildings have been demolished to make way for the new hospital. During the demolition work, special care was taken to ensure the appropriate treatment of demolition materials: everything that could be reused as material was sent for use in manufacturing new products. Some of the crushed concrete created during demolition and the quarried rock resulting from the blasting of underground areas will be used for landscaping in the area.
The waste arising on the construction site will also be sorted in a way that promotes reuse on-site, and materials will be recycled as much as possible. At present, nearly 99% of the construction site waste is sorted. This is an exceptionally good result, as the threshold in the EU Taxonomy is 70%. Usable surplus material is sent for reuse. Only certain types of waste may be sent for incineration in energy production or to landfill.
The green roofs on the new buildings will help to control drainage water and cool the microclimate by mitigating the heat island effect. Several studies have shown that views of nature reduce stress and boost wellbeing, so the usability of green spaces is also an important focus. The beautiful green roofs will be pleasant places with terrace yards for patients to visit.
SRV issued a stock exchange release in April 2021 to announce the signing of an alliance agreement. The release estimated the project value at EUR 730 million. Due to cost rises, the value of the project for SRV is now approximately EUR 800 million.
Entire Laakso Hospital area under redevelopment
The City of Helsinki and HUS are modernising the buildings in the Laakso Hospital area to benefit clients and patients. The treatment facilities for mental and physical (somatic) illnesses will be close to each other. Clients and patients will receive help from a single place, and professionals in different fields can easily work together on questions pertaining to treatment. Further information about the project: https://laaksonyhteissairaala.fi/
- Client: Kiinteistöosakeyhtiö Laakson yhteissairaala (City of Helsinki and HUS)
- Prime contractor: SRV
- Main and architectural design: Laakson LATU (Arkkitehtitoimisto Tähti-Set, AW2-Architects, Lukkaroinen Architects and UKI Arkkitehdit)
- Structural, geological and rock engineering: Unitas (AFRY Finland, A-Insinöörit)
- HVAC, electrical and automation design: Granlund
Images used in the bulletin: Laakson LATU (Arkkitehtitoimisto Tähti-Set, AW2-Architects, Lukkaroinen Architects and UKI Arkkitehdit)
For further information, please contact:
Ossi Inkilä, Project Manager of Laakso Joint Hospital Alliance and Unit Director, Business Premises, Helsinki Metropolitan Area, SRV, tel. +358 (0)40 708 2253, ossi.inkila@srv.fi
Heli Pulkkinen, Communications Specialist, SRV, tel. +358 (0)50 411 0787, heli.pulkkinen@srv.fi
Marko Virtanen, Managing Director, Kiinteistöosakeyhtiö Laakson yhteissairaala real estate company, tel. +358 (0)40 139 4300, ext-marko.virtanen@hus.fi
Sari Korolainen, Communications Manager, Kiinteistöosakeyhtiö Laakson yhteissairaala, tel. +358 (0)40 841 3600, ext-sari.korolainen@hus.fi
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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 2022, our revenue totalled EUR 770.1 million. In addition to approximately 1,000 in-house staff, we have a network of around 3,800 partners.
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