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NORDICUM.Com Interview Building the World Join the Inner Circle of the World's Property Market MIPIM® Is a Registered Trademark of Reed MIDEM - All Rights Reserved Real Estate SPECIAL REPORT 2008 DOUBLE YOUR PLEASURE Shopping Centre Duo Helsinki Business Hub BEYOND TREES AND BRAINSS NORTHERN LIGHTS DKK 42,00 EUR 6,60 NOK 47,00 The Richard Florida SEK 49,00 NORDICUM.com Interview Building the World Join the inner circle of the world's property market MIPIM® is a registered trademark of Reed MIDEM - All rights reserved. All rights MIDEM - of Reed trademark MIPIM® is a registered - Le Public System.M – photo : Getty Images MIPIM is the must-attend event for everyone involved in building 26,210 participants 2,523 exhibiting companies tomorrow’s world. 6,687 end-users, hotel groups and investors 83 countries MIPIM enables key-players in the international real estate industry the To participate in MIPIM 2008, chance to meet and do business for four highly productive days each call your local representative to register or to reserve a stand: year. It’s an exclusive opportunity to connect with the most Headquarters (Paris) tel.: + 33 (0)1 41 90 45 20 important decision-makers and gain an insight into major projects London: + 44 (0)20 7528 0086 New York: +1 (212) 284 5141 taking place across five continents. Tokyo: + 81 (3) 3564 4264 11-14 March 2008 • Palais des Festivals, Cannes, France • www.mipim.com NORDICUM scandinavian business magazine 6 • 2007 editorial Publisher PubliCo Oy Pälkäneentie 19 A FI-00510 Helsinki Finland Phone +358 9 686 6250 Fax +358 9 685 2940 [email protected] www.publico.com Older, not old Editor-in-Chief Sami J. Anteroinen Finland turned 90 years old on 6th December, 2007. This is a decent age for a country, even Editorial Coordinator though Finland is still very young in comparison to some other Western democracies. Mirkka Rytilahti On the other hand, the good citizens of Finland are feeling the weight of years up- on their shoulders more and more. The phenomenon is not restricted to Finland, either Project Manager – population is aging all over Europe. In this context it may come as a surprise that the Paul Charpentier Nordic countries are estimated to have a more positive population development than the Contributors rest of Europe. Tage Erikson By 2040, the total population of the Nordic countries is projected to grow by almost Merja Kihl two million people. Sweden is likely to hit 10 million in couple of decades and Finland, Klaus Susiluoto Norway and Denmark are expected to level out at 5.7 million by 2040. Why do the Nordic countries differ from the rest of the continent in this regard? Language Editor There are probably many reasons for this development, but the Nordic welfare state mod- Dialog Designs el may be one key element. In any case, it would be nice to think that. Graphic Design Peering into the future, one has to recognise that the prediction business is never A5 Plate Media Oy easy. All the great societal changes have come as no surprise – after the fact, that is. The baby boomer generation, the dropping birth rate in the 70’s and 80’s, the increased life Ad Sales expectancy…all of these trends took the so-called experts by surprise at the time. Finland Mr. Paul Charpentier Today, it seems that the wild card in the deck is immigration. In recent years, im- Phone +358 9 6866 2533 migration has intensified in all of Scandinavia. However, the current immigration lev- Fax +358 9 685 2940 el is not sufficient. Sweden In the age of globalisation, there is a fierce battle between nations for the best work- Mr. Johan Lindberg force out there. While the United States has lost some of its appeal, other countries have Phone +358 9 6866 2541 emerged as attractive alternatives. What the Nordic countries must do to survive in the Fax +358 9 685 2940 Germany game is to practise smart immigration – and reshape the age pyramid in a more sustain- Mr. Lutz Ehrhardt able way. Phone +49 40 367 311 At least for Finland, the secret of success lies in the complete retooling of the wel- Fax +49 40 365 993 fare state concept. We need a society that is open and honest, celebrating diversity and learning every step of the way. Subscriptions Phone +358 9 686 6250 Fax +358 9 685 2940 We need a nation that is committed to building something again. E-mail: [email protected] Something big. Cover Photo Lehtikuva Oy Sami J. Anteroinen Editor-in-Chief Printed by Forssan Kirjapaino, December 2007 Photographic and advertising material is sent at the owner’s risk. NORDICUM accepts no liabili- publication schedule 2008 ty for loss or damage. NORDICUM is a bimonthly NORDICUM magazine on Nordic business. NORDICUM pro- motes Baltic Sea area cooperation and free mar- Issue: Date of publication: Themes: kets. NORDICUM is not affiliated with any po- 1/2008 February Transportation & Logistics litical party or financial institution. 2/2008 April Pulp & Paper, Automation, Forestry 3/2008 June Energy & Environment, Biotechnology ISSN 1236-3839 4–5/2008 September Cruise & Shipping, Travel 6/2008 December Real Estate, Architecture Russian language issues PubliCo Oy is a member of June Energy and Pulp & Paper The Finnish Periodical November Russian Trade Publisher’s Association 2 NORDICUM com KONE Sells KONE Building Skanska to build offices for Hydro in Oslo KONE sold the KONE Building to Hanseatische Investment- GmbH (“Hansainvest”) on 30 November. The selling price Skanska was contracted to construct an office building in is EUR 35 million. KONE will stay in the building as a ten- Oslo on 30 November. The contract amount totals NOK 334 ant under a long-term lease agreement. million, about EUR 41 million, which is included in order KONE announced already in August that it was con- bookings for the fourth quarter. The customer is Hydro. sidering the sale of its KONE Building located in Espoo, The new offices will be constructed adjacent to Hy- Finland. dro’s existing head office building on Vækerø, outside “We are pleased with the outcome of the sales process Oslo. The four-story building will comprise about 15,000 and we welcome Hansainvest as our partner and long-term square meters. property owner,” comments Klaus Cawén, Executive Vice Work at the site will begin in January 2008 and the President, KONE Corporation. project is scheduled to be completed in June 2009. The KONE Building is located next to the sea in the Skanska Norway has carried out a number of build- Keilaniemi business district of Espoo, and is designed by ing construction and civil engineering projects for Hydro, Antti-Matti Siikala. The office building reaches up to 72 me- a repeat customer. Among the largest is the expansion of ters and has become one of the visual landmarks of Espoo. the Ormen Lange gas field, in which Skanska was respon- Thanks to its height, scenic elevators and steel structure, the sible for most of the land facilities. b KONE Building characterises the area’s technology orienta- tion while maintaining its presence as an architectural mon- ument between Espoo and Helsinki. Hansainvest is part of the Signal Iduna Group, one of the largest German insurance and financial service provid- ers. 125 employees are managing assets of about EUR 9.4 billion in 43 mutual funds and app. 20 special funds. In the real estate sector HANSAINVEST is managing real estate assets of app. EUR 2.3 billion, split up into direct invest- ments, three special real estate funds and one open real es- tate fund HANSAimmobilia. b YIT lands contract for Tapiola’s Sponda sells residential building new office building rights in Helsinki Real estate investment company Sponda Plc sold to VVO Tapiola Real Estate Ltd was chosen YIT Construction Ltd group and Tapiola Mutual Life Assurance Company a plot as the main contractor of the Tapiola Group’s new office of land designated for housing production in the Itäkeskus building in Espoo on 13 November. The contract is valued district of Helsinki. The transaction, which was announced at over EUR 70 million. Construction will begin in Decem- on 20 November, is worth approximately EUR 13 mil- ber once the earthworks have been seen to completion. lion. The new office building will be completed at the The site in question has building rights of about turn of 2010. The building will have gross floor area of 25,000 square metres and is located in Vanhanlinnantie 71,000 m2. b road in the same block in which Sponda is building the new Prisma shopping centre for HOK-Elanto. Sponda is recording a profit on the sale of EUR 8.5 million. In this transaction Sponda is selling land that is des- ignated for residential accommodation and not in line with its strategy. In accordance with the company’s strategy, Sponda is focusing on owning office, retail and logistics property. b 33 NORDICUM scandinavian business magazine 6 • 2007 contents Photo: Finfood Photo: Creative Class Best served chilled. Finnish food culture is hungry for a come- Meet the Professor. Richard Florida believes that the future is in back. Pages 8–11. the North. Pages 18-20. Magazine 02 Editorial 03 News Forum 06 Leaner, meaner HKS can is eying new markets in the east 08 Finnish food culture ready to make its mark 11 Compliments to the Chef 12 The Agenda by Risto Penttilä – Knock, Knock, Knockin’ on NATO’s Door 14 Nordicum golf by Jussi Kaarenmaa 16 Union Investment commited to sustainability Real Estate Special Report 18 Creative Class Goes North 22 Helsinki gets ready to rumble 24 Tapiola combines commercial prowess with cultural edge 26 Espoo innovation code features Art, Business and Science 27 Building Cultural Infrastructure 28 A broader base for innovation is a must 29 Hartela gives Keilaniemi a welcome upgrade with K9 30 Metro will revitalise Espoo for citizens and companies alike 32 Suurpelto poised to redefine quality living 34 Kalasatama promises to be a true pearl 36 Shaping Kalasatama for the long run 4 NORDICUM scandinavian business magazine 6 • 2007 Hot As Helsinki.
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