Sponda signs so-operation agreement with Finnish broadcasting company's pension fund
Finnish real estate investment company Sponda Plc has signed an agreement with the pension fund of the Finnish Broadcasting Company (YLE) under which the parties will jointly develop a new office building on the pension fund’s site in Länsi-Pasila, Helsinki. Construction will take place in four stages, the first of which will start in autumn 2007 at the earliest. The project has a total investment value of roughly EUR 95 million and the building’s total leasable area will be about 34 000 m². Sponda will be responsible for 60 %, or roughly EUR 57 million, of the total investment cost. The site will be developed to cater specifically to the needs of enterprises offering digital media and digital services. The project also includes Forum Virium Helsinki, a cluster formed by the City of Helsinki and several companies to develop digital services and content, for which business space will be reserved in the new building.
Sponda Plc
Further information:
Joni Mikkola, SVP Property Development, tel. +358 (0)9 6805 8424, GSM +358 (0)40 518 1217.
Sponda Plc is a real estate investment company specializing in commercial properties in the Helsinki Metropolitan Area. Sponda’s business concept is to own and develop office, retail and logistics properties into environments that promote the business success of its clients. The market value of Sponda’s investment properties is approximately EUR 1.34 billion and the leasable area is 860,000 m2. Sponda is the largest real estate investment company listed on the Helsinki Stock Exchange.
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