SRV GROUP PLC INVESTOR NEWS 13 MARCH 2025 12:00 EET
SRV to implement a housing project with 50 right-of-occupancy units in Espoonlahti, Espoo
SRV and Asuntosäätiö have signed a contract to build 50 residential units in the Mårtensbro area in Espoonlahti. The contract is worth around EUR 10 million for SRV. The project will be carried out as a fixed-price contract. It will be recognised in SRV’s order backlog for the first quarter. Construction work will start in the spring 2025 and the project is estimated to be completed in autumn 2026.
“We thank Asuntosäätiö for the good cooperation in this and several other projects. It is great that we can launch the construction of a new residential area through a joint project. This project strengthens our diverse housing portfolio”, says SRV’s Jorma Seppä, Senior Vice President, Housing, Helsinki metropolitan area.
Mårtensbro is a new residential area Espoonlahti
Mårtensbro is located in central Espoonlahti on the plot opposite Lippulaiva, at the corner of Espoonlahdenkatu and Ulappakatu. SRV has a planning reservation for the development of numerous blocks in the area.
“We have been developing the area in collaboration with the city for a long time, and now, with the contract with Asuntosäätiö, we can start construction work on the first project in the area. Almost 500 apartments will be built in the first block of the area. SRV is currently also planning developer-contracted housing projects in the area, and the block will be built with private financing for owner-occupied and rental apartments”, Jorma Seppä says.
"It is great to be able to participate in the development of a new residential area in Espoo. A complex of several blocks has been planned for the area, and right-of-occupancy building of Asuntosäätiö will be the first new development in Mårtensbro. The project excellently supports our goal of building affordable and comfortable housing with good transport connections," says Turkka Keravuori, Director of Development at the Asuntosäätiö.
The eight-story apartment building will feature a total of 50 right-of-occupancy units, half of which will be larger family homes. Adaptability has been taken into account with the option of combining some of the residential units and business premises.
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 (0)40 662 3220, heidi.tetteh@srv.fi
Turkka Keravuori, Director of Development, Asuntosäätiö, tel. +358 (0)20 161 2272, turkka.keravuori@asuntosaatio.fi
Image used in the bulletin: ARK 7 Oy
Distribution:
Media
www.srv.fi
You can also find us on social media:
Facebook LinkedIn Twitter Instagram
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 into consideration the wellbeing of both the environment and people. 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 2024, our revenue totalled EUR 745.8 million. In addition to about 800 SRV employees, we had a network of around 3,200 partners.
SRV – Building for life
