SRV GROUP PLC INVESTOR NEWS 20 JUNE 2024 13:00 EEST
SRV to build 92 student apartments in Oulunkylä, Helsinki
SRV and Kiinteistö Oy Patolan Kulma have signed an agreement for the construction of a project comprising 92 student apartments in Patola, located in the Oulunkylä district of Helsinki. The contract is worth around EUR 10 million for SRV. It will be carried out as a turnkey contract, including the design and construction of the project. The order will be recognised in SRV’s backlog in June. The project has a legally valid building permit, and the planning starts immediately. Construction will begin in fall 2024 and is currently scheduled for completion in the spring of 2026.
The project consists of the construction of a seven-story apartment building with 92 student apartments, commercial premises and a yard area. The building will also have a sauna and clubhouse as well as spacious storage places for bicycles and a large laundry room for shared use. The project will focus on comfortable living solutions such as modern space solutions and adaptability. Each floor of the building has partition walls that can be dismantled and thus connect the apartments.
“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. In addition to our own housing production, we are implementing a variety of other housing projects, such as ARA-funded student housing,” says SRV’s Jorma Seppä, Senior Vice President, Housing, Helsinki metropolitan area.
Kiinteistö Oy Patolan Kulma is owned by the Häme Students Foundation, the Artti Foundation, the Foundation of Savonian University Students and the scholarship fund of the Kymenlaakson Osakunta student nation.
”The new apartments will thus meet the growing need for high-quality, modern and reasonably priced student rental apartments. Patolan Kulma is located in a developing part of the city with good connections, in the immediate vicinity of a light rail stop," says Markku Tiensuu, Managing Director of KOy Patolan Kulma.
Additional information:
Jorma Seppä, SVP, Housing, Helsinki metropolitan area, SRV, tel. +358 (0)40 727 3771, jorma.seppa@srv.fi
Heidi Tetteh, Communications manager, SRV, tel. +358 40 662 3220, heidi.tetteh@srv.fi
Markku Tiensuu, Managing director, KOy Patolan Kulma, tel. +358 (0)50 449 8128, markku.tiensuu@hys.net
Image used in the bulletin: Ahlman Arkkitehdit Arkitekter
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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 well-being of both the environment and people into consideration. We call this approach life-cycle 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 800 in-house staff, we had a network of around 3,300 partners.
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