NCC, one of the leading Nordic construction companies, is divesting in the Cleantech Garden public properties project in Espoo, Finland. Price tagged at $89 million (SEK 900 million), the Cleantech Garden public properties project will be sold to the social infrastructure company, Suohki, that is owned by Infranode. The forward-funding buyer, Suohki, will now fully finance the project. The sale off will take place by April 2025, ahead of its completion in Q2 of 2027.
Cleantech Garden public properties project factsheet
Location: City of Espoo, Finland
Client: Suohki
Investors: Infranode and Suohki
Cost: $89 million (SEK 900 million)
Contractor: NCC Building Nordics
Architecture: Jaakkola Architects
Construction start date: Q1 2025
Construction end date: Q2 2027
A look at the public properties project
Spanning 13,750 square meters, the Cleantech Garden public properties project in Finland also comes with a new school in its development plans. The school will cover most of the lettable area at 11,000 square meters. Around 3,000 square meters has been set aside for office space, with 90 parking spaces set to be constructed adjacent to the property.
Also, upon completion, the BREEAM Excellent certified Cleantech Garden public properties project will mainly host the locals of the city as part of its strategy initiative.
What NCC’s divested Cleantech Garden public properties project offers
NCC Property Development business area is where the construction of the public properties will take place. Being the contractor, NCC Building Nordics will get the official order registration as the construction work is set to commence soon.
NCC, and colloquially, Suohki’s Cleantech Garden public properties project in Finland, is more than an agreement in the Finnish construction sector. It is the bridging of the private and public sectors in realestate business in the Nordics. A connection rather visionary.
Joachim Holmberg, Head of NCC Property Development made the following statement during the recent divestment announcement. “With this project start, we are creating a new interface between the private and public sectors, combining different activities under one roof. I am pleased that Infranode and Suohki as investors and the City of Espoo as a tenant share our vision. This is also a welcome activity for the property market in Finland.”
Also echoed by Samuli is the need for strategic emphasis on sustainability, and their long-term focus on essential infrastructure in Finland. Samuli Kivipelto is the Investment Manager at Infranode.
The greater Cleantech Garden project
With leading themes on mobile solutions, circular bioeconomy, sustainable food system and carbon-neutral energy economy, the project will be developed in phases. The Cleantech Garden project also has a 50,000 square meters campus underway at Kivenlahti metro station in Espoo, alongside other business, research and learning hubs, facilities, and centers.
Cleantech Garden project factsheet
Location: City of Espoo, Finland
Project phase: Ongoing
Goal for completion of phase one: 2025
Office and research spaces: 30,000 sq. m.
Spaces for education: 18,000 sq. m.
Parking spaces: 600
Certificates: Aiming for BREEAM Excellent
Cleantech Garden’s 1st phase offers
R&D spaces: 4,000 sq. m.
Office space: 2,000 sq.m
Floor area: 400-1,000 sq.m.
Parking spaces : 73 pcs
Loading dock and service lift
Also in plans: gas storage
More is definitely set to come from the investments – and divestments.
