Property Development in 2015

The Property Development business unit is responsible for the company’s property development projects in Finland. Business premises are developed by renovating properties in the portfolio, or developing new properties on land areas owned by Sponda. The company is also active on the markets to identify properties with development potential.

Development Properties’ ready-to-start projects in the marketing
  City Floor m2
Office Properties    
Forum Virium Center Helsinki 14,000
Estradi 2 Helsinki 5,000
Aviapolis Vantaa 18,000
Energiakatu Helsinki 10,000
Avec 2 Espoo 12,000
Ilmalanrinne Helsinki 13,000
Väritehtaankatu Vantaa 13,000
Naulakatu Tampere 6,000
     
Retail Properties    
Välivainio Oulu 13,000
Partola  Pirkkala 5,000

 The start of the projects requires at least a pre-let of 50 per cent and an investment decision of the company.

Investments to active property development projects, 31 December 2015    
  Shopping centre Ratina,
Tampere
Retail property Alasintie 8,
Oulu
Total investment, M€ 243.6 4.8
Remaining investment to be made, M€ 191.7 2.7
Capitalised interest expenses by 31 December 2015, M€ 0.2 0
Time of completion spring 2018 May 2016