Strategy

Sponda is a property investment company that owns, leases and develops office and shopping centre properties in Helsinki and Tampere. We seek growth and profitability through customer-focused operations, active property development and property acquisitions in Finland.

The main goals of Sponda’s strategy are simplification of the business structure, more focused property ownership and profitable growth. To simplify its business structure, Sponda will divest its Russian operations, logistics properties and property located in Turku within one to three years. Property ownership will be focused on prime areas in the Helsinki metropolitan area, particularly in the central business district and Ruoholahti, as well as Tampere.

Focusing property ownership on strategically important areas, where Sponda already has a strong position, gives us a better capacity to develop our market intelligence and grow profitably.

Sponda’s strategic business development focal points are the customer experience and environmental responsibility.

Strategic operations in 2015

Properties sold and bought

  • Sponda sold its 38 per cent holding in the logistics property company Certeum, as well as its properties located in Vuosaari harbour to the Blackstone Real Estate Partners Europe IV fund.
  • In Russia, Sponda sold the Solnechniy II shopping centre and the Bakhrushina House office building in Moscow to Horizon Properties Ltd.
  • Sponda reduced its property ownership in Turku. At the end of 2015, Sponda owned only one property in the city.

Property development

  • In central Tampere, Sponda began construction on the Ratina shopping centre in April 2015. The shopping centre will be Tampere's largest and it will be completed in 2018.
  • In Oulu, Sponda began the development of a retail property for use by the sporting goods retailer XXL in summer 2015. The property will be completed in late spring 2016.
  • At Pieni Roobertinkatu 9 in Helsinki, Sponda began the development of the Mothership of Work (MOW), a new kind of user-powered coworking service concept, in autumn 2015. MOW was opened in February 2016.

Refinancing and other financial arrangements

  • In April, Sponda signed an agreement with Danske Bank Plc for a five-year unsecured loan of EUR 115 million. The agreement extended a previous maturing loan of the same size until April 2020.
  • In May, Sponda issued a EUR 175 million senior unsecured bond. The five-year bond matures in May 2020.
  • In November, Sponda signed a syndicated revolving credit facility agreement for five years for EUR 80 million. The facility is unsecured. It extended the similar undrawn EUR 150 million revolving credit facility’s original maturity from November 2015.

Business development: responsibility, the environment and the customer experience

  • Sponda was awarded a Green Star in the GRESB survey, which is a comparative survey of responsibility among companies in the property sector, for the third year running. Sponda’s score increased by 17 per cent from the previous year.
  • Sponda was ranked as the best property investment company in the Nordic region by the CDP Climate in 2015 in the Financials category, and Sponda also reached the Nordic Climate Disclosure Leadership level for the first time. The company achieved a score of 99/100 for its reporting and its grade for the index measuring the management of emissions was A- on a scale of A–E.
  • Sponda’s customer satisfaction, Net Promoter Score and contract renewal rate increased from the previous year. The results of customer relations work have improved and the relevant internal targets were exceeded.
  • Sponda obtained the LEED Platinum® Environmental Certification for its Estradi office building, which was completed in spring 2015. LEED® (Leadership in Energy and Environmental Design) is an internationally recognised and widely used green building certification, awarded by the U.S. Green Building Council (USGBC).  LEED Platinum® is the highest certification level in the LEED environmental certification system.