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|
|Forum Virium Center||Helsinki||14,000|
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,
|Retail property Alasintie 8,
|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|