NCC

The transaction will take the form of a company divestment, based on a property value of approximately SEK 900 million. The project is being carried out with forward funding and is fully financed by the buyer. Transfer of the property to the buyer will take place in the first quarter 2025, and profit recognition will occur when the project is completed, which is expected to take place in the second quarter of 2027.

“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,” says Joachim Holmberg, Head of NCC Property Development.

Most of the space, around 11,000 square meters, will be used as a school, and research and development premises. The supporting office space will comprise approximately 3,000 square meters. A parking garage will be constructed adjacent to the property with some 90 spaces, and is included in the transaction. Cleantech Garden is expected to receive BREEAM Excellent certification.

“This investment is an excellent addition for Suohki, which focuses on providing high-quality social infrastructure with an emphasis on sustainability to, among others, municipalities and regions in Finland. As a long-term and responsible partner in essential infrastructure, we look forward to supporting the continued development of Espoo,” says Samuli Kivipelto, Investment Manager at Infranode. 

The project will be carried out in the NCC Property Development business area and the contract will be conducted by NCC Building Nordics and is expected to be registered among orders in the first quarter of 2025. The project is expected to be completed during second quarter 2027.