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Publisher PubliCo Oy Pälkäneentie 19 A FI-00510 Helsinki (De)sign of the Times Finland Phone +358 9 686 6250 Christmas came early for Helsinki this year. The city won the coveted World De- Fax +358 9 685 2940 sign Capital 2012 designation in November, almost immediately kicking off prep- [email protected] arations for the special year. www.publico.com World Design Capital is a great honour for Helsinki – as well as the partici- Editor-in-Chief pating cities of Espoo, Vantaa, Kauniainen and Lahti. After all, 46 cities from 27 Sami J. Anteroinen countries were after the prize that was now given out only for the third time ever. When Helsinki and Eindhoven were announced to be the two finalists, some Editorial Coordinator faces in Finland turned pale upon seeing the budget the esteemed Dutch design Mirkka Lindroos hub had mustered for the occasion: € 136 million, while Helsinki would have to Project Manager do with a measly 15 million. Paul Charpentier The duel of the two cities seemed like the battle of David and Goliath for an instant, but in the end, it wasn’t the money talking. It was more like a matter Contributors of perfect timing – the Helsinki Metropolitan Region stands upon the threshold Lutz Ehrhardt of unprecedented changes and the International Council of Societies of Industri- al Design (Icsid) chose to recognise this historical moment. Language Editor Dialog Designs During the coming decade, the Daughter of the Baltic Sea is about to reclaim her shores. As port operations from downtown have been shifted to Vu- Graphic Design osaari Harbour, the old areas are now open for development. Helsinki wants to A5 Plate Media Oy make the most of this opportunity and is seeking to create vibrant communities by the sea, where focus is very much on green values, innovation and quality of life. Ad Sales But while the waterfront will be totally reinvented, there is a revolution Finland Mr. Paul Charpentier sweeping through the academic world as well. The new Aalto University is the Phone +358 9 6866 2533 first of its kind in the world; a true “innovation university,” which combines busi- Fax +358 9 685 2940 ness, technology and design into an education powerhouse. Sweden The new university is named, of course, after Alvar Aalto, an architect and Mr. Johan Lindberg designer of legendary proportions. Aalto once stated that in architecture, noth- Phone +358 9 6866 2541 ing is as dangerous as dealing with separated problems. Fax +358 9 685 2940 Germany “If we split life into separated problems, we split the possibilities to make Mr. Lutz Ehrhardt good building art,” he said. Phone +49 40 367 311 This ideology is inherent also in the formation of the new entity for higher Fax +49 40 365 993 learning. In the competitive environment of the new decade and beyond, one has to be able to pool together resources and embrace a holistic outlook. Subscriptions It’s a competition of ideas out there – may the best one win. Phone +358 9 686 6250 Fax +358 9 685 2940 E-mail: [email protected] Sami J. Anteroinen Editor-in-Chief Cover Photo Simon Anholt / Annette Andersson

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Photographic and advertising material is sent at the owner’s risk. NORDICUM accepts no liabili- ty for loss or damage. NORDICUM is a bimonthly magazine on Nordic business. NORDICUM pro- motes Baltic Sea area cooperation and free markets. NORDICUM is not affiliated with any political party or financial institution.

NORDICUM publication schedule 2010 ISSN 1236-3839

Issue: Date of publication: Themes: 1/2010 February Transportation & Logistics 2/2010 April PulPaper & Energy 3/2010 June Cruise & Shipping, Travel 4–5/2010 October Russian Trade (Russian language issue) 6/2010 December Real Estate PubliCo Oy is a member of The Finnish Periodical Publisher’s Association

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Read the latest NORDICUM in e-paper format on contents Photo: Sini Pennanen Photo: Länsimetro Oy

Getting Competitive. The Helsinki Metropolitan Region wants to Go West. The new metro line is set to change the game for Es- be one of the winners of the Information Age. The three Mayors poo. With construction now on the way, both old and new com- lay down the battle plan. Pages 14–16. munities are being energised by the launch of the massive un- dertaking. Pages 28–41.

Magazine

02 Editorial 06 The Agenda by Paavo Lipponen – EU catastrophy in Copenhagen? 08 Get the Story Straight 12 Selling Finland – The Family Plan 13 The Product – Turun Sinappi 14 Metropolis: The Making Of 17 Designing airport excellence 17 Mange sud – Mediterranean warmth in southern Helsinki 18 Helsinki wins World Design Capital honours 20 Aalto University introduces next practice workshops 22 City Campus Emerging 24 GRENKELEASING makes IT leasing possible

Real Estate Special Report

26 The coming decade will transform Helsinki’s shores 28 Sixteen minutes of fame 30 Keilaniemi Station 31 SRV introduces residential towers into Keilaniemi 34 Otaniemi Station

4 Nordicum Photo: NCC Photo: YIT

Future of Business. NCC is celebrating two decades of Business Power Triangle. Vuosaari – Lahti – St. Petersburg is emerging as Park excellence by introducing the fourth generation – with a a winning logistics corridor, but the City of Lahti has a lot more greener, cleaner mindset. Pages 42–43. to offer, too. Pages 48–50.

35 Aalto University real estate assets are in need of retooling 36 Otaniemi welcomes Aalto University 36 Revitalising Tapiola Centre 37 Tapiola Station 38 Jousenpuisto Station 39 Matinkylä Station 40 Matinkylä metro station: Superhub in the works 41 Suurpelto promises to put “unity” back in community 42 Reinventing Future Office 44 The future of shopping centres 46 Vantaa pursues dynamic development on many fronts 48 Lahti combines smooth logistics with cutting edge innovation industries 51 Turku is getting ready for Capital of Culture 2011 54 CLX Business Zone combines logistics, hi-tech and retail expertise 56 Winglet Business Park opens in CLX 56 Vaasa Airport Logistics Center moving forward 57 Pulse of the Industry Still Strong 58 Skanska is building a “Gateway to Helsinki” 60 Real estate investments expected to pick up 61 Sustainability all the way 62 Company Business Cards

Nordicum 5 THE AGENDA

EU catastrophy in Copenhagen? by Paavo Lipponen

t is, by now, clear that no subsidize pulp and paper mills, recognizing the ecological role of binding international agree- wood-based industries. Nuclear power is being openly promoted. I ment will emerge from the If the EU gives a unilateral, binding commitment at the Sum- Copenhagen Climate Summit. mit to 30 percent emissions reductions by 2020 – even with others From the beginning, expec- committing themselves – the rest of the credibility of the commu- tations about so-called ambi- nity will be lost. There is no concrete plan on the EU level nor on tious results were unrealistic. member state levels on how to reach such a goal. At worst, a unilat- The United States was not go- eral commitment would have catastrophic consequences for Euro- ing to change its approach 180 pean industry competitiveness. degrees from Kyoto, and the de- Climate change has become a vehicle for promoters of sheer veloping countries could not be economic and ecological madness. In the EU the effects of popu- expected to bear any extra burden. list and fundamentalist campaigning has affected even the highest The European Union has levels of decision making. The process of making EU decisions in been the driving force for cli- energy and climate has not been transparent and the same kind of mate action and deserves culture is now being adopted by the Finnish government. credit for that. But this Meanwhile, our dependency on fossil energy sources is in- championing has tak- creasing. Shell Chairman Jorma Ollila – nowhere in Finland con- en the form of public- sidered a lobbyist for fossils – condescendingly recognizes nuclear ity-seeking hype and power as a “transitional” form of energy. Does he mean the world arrogant behavior on being in transition to a new fossil era? the global scene, as if With Copenhagen approaching, we are witnessing the latest the EU could dictate its great achievement of EU energy policy, the closing of the nuclear terms to others. power plant in Ignalina, Lithuania. Is this what the EU has to offer: The EU has been setting goals that are both unrealistic and making a member country to become totally dependent on import- hurting the European economy. The first mistake was the time- ed fossil energy, forcing the country on her knees? b frame set at the Spring Summit 2007: to reach 20 percent emissions reductions and raise the share of renewable energy to 20 percent by 2020. Both goals were drawn from the hat, with no plan how to reach them. Particularly the renewables goal is pure fanta- sy. By 2020 most member states will not make the specific targets set for each of them. This kind of political culture seriously under- mines the credibility of the Union. The United States approach to Copenhagen looks less ambitious, but it represents a different, more realistic strategy. The US goal is set for 2050, giving time to turn the wheels. The Obama administration is investing heavily in new technology for renewable The writer is former Prime Minister and energy. To protect their own industry, the government will heavily Speaker of Parliament of Finland.

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Simon Anholt discusses Finland, reputation and the death of nation branding

If one were to ask Simon Anholt, the father of nation branding, what is the first thing that pops into his head when somebody mentions the word “Finland”, the answer might surprise you.

he closest thing to a perfectly func- nation branding team – led by Jorma Ollila, tioning society which humanity The Unknown Soldier the Chairman of Nokia and Shell. Appoint- “T can offer,” Anholt replies. However, Finland is not all aces in Anholt ed by Alexander Stubb, Minister of Foreign The 48-year-old Briton seems to have Nation Brands Index – even if this year, Fin- Affairs, the nation branding team is a two- taken a special liking to Finland – he feels land managed to move up from spot 18 to 17. year project aimed at enhancing Finland’s that the country has a unique identity and The Nordic brethren Sweden and Denmark image and reputation. many features which could be used in boost- continue to do better in the Index (placing 10 With one year under its belt, Ollila’s ing its significance in international circles. and 15, respectively). Anholt is of the opin- team is expected to turn in its findings in Number one would be the Finnish version ion that the one problem Finland has is dif- autumn 2010. Anholt is not about to kiss- of ‘yes-we-can’: ferentiating itself from the rest of the Scan- and-tell about what goes on in the project: “Basically, the most important thing is dinavian countries. “There’s nothing really to talk about that Finns know how to get things done. This “This is because people don’t know just yet, as the process isn’t finished,” he is something the planet desperately needs, much about Finland,” Anholt explains, add- says on this topic. and Finland can provide. “ ing that he’s talking about the general pub- Anholt’s familiarity with Finland goes lic here – not any type of elite audiences or Brain Candy beyond your basic Wikipedia article, it soon people who happen to have direct experi- becomes apparent. He has, after all, visited ence of the country. Finland is, of course, not the first country the country about a dozen times. What is An- Being a relative unknown, some to enlist the aid of the nation branding guru. holt’s connection to Finland then? “Northern exposure” could be in order to During the last 12 years or so, he has advised “My mother used to live in Nokia in boost the rankings: the governments of more than 40 countries the 1950s – she was an English teacher for “There is definitely room for improve- on questions of national identity and repu- the British Council – and spoke fluent Finn- ment. At the moment, Finland’s rankings tation. When pressed for the most memora- ish,” Anholt reveals. As a consequence, An- mainly reflect a generic view of Scandina- ble occasion, Anholt replies that all cases holt can, for instance, pinpoint similarities via which is good and positive, but doesn’t have their moments. that Finland shares with other countries – but begin to do justice to Finland’s real identi- “No two countries are alike. Working not too many foreigners know about. Two ex- ty and capability.” with Finland has certainly been one of the amples: Finland and Argentina share a deep Recently, Anholt has been diving into most intellectually stimulating.” love of tango while Finland and Hungary are the country’s “real identity and capability” In addition to helping countries re- linguistic cousins. with vigour, as he is consulting the Finnish invent themselves, Anholt has been rein-

8 Nordicum venting himself as well – in a manner of munications programmes, slogans or log- tle more than empty propaganda. The core speaking. The father of nation branding os, have ever succeeded, or could ever suc- marketing message ‘please try this product’ would now like to give up fatherhood al- ceed, in directly altering international per- turns into ‘please change your mind about together. ceptions of places,” Anholt writes, causing this country’, and the message misses its Anholt first used the phrase ‘nation many a spin doctor to fall into despair. mark – and rather badly, at that. brand’ in 1996 and the idea has created plen- And wait, there’s more: Anholt goes ty of excitement in government circles in on to add that nation branding is, in fact, the many countries – now, finally, there was a problem, not the solution. It is public opinion Move Any Mountain? quick fix for a weak or negative national im- which brands countries – in other words, re- Another reason why national images can’t age! This, however, was not the case – and duces them to the “weak, simplistic, outdat- be changed so easily is because they are so is still not the case. ed, unfair stereotypes” that so damage their robust. National image is a remarkably sta- prospects in a globalised world – and most ble phenomenon as the Nation Brands In- Brand No More countries need to fight against the tenden- dex would suggest. cy of international public opinion to brand “If you try and think about countries In his new book Places, Anholt maintains them, not encourage it. whose images have changed in the past – that nations may indeed have brands but the “Governments need to help the world Ireland, South Africa, Germany and Japan idea that it is possible to ‘do branding’ to understand the real, complex, rich, diverse after the Second World War, Spain after a country in the same way that companies nature of their people and landscapes, their Franco – then it’s obvious that every one ‘do branding’ to their products, is “both vain history and heritage, their products and their of these changes has taken decades or gen- and foolish”. resources: to prevent them from becoming erations, and has invariably been the result “In the 15 years since I first started mere brands,” Anholt thunders in his book. of big political, social or economic chang- working in this field I have not seen a shred Anholt observes that since countries es,” Anholt says. of evidence, a single properly researched aren’t for sale, the marketing communica- “It has got nothing to do with ‘brand- case study, to show that marketing com- tions campaigns associated with them are lit- ing’. “

Nordicum 9 SIMON ANHOLT

imon Anholt is the leading au- thority on managing and meas- S uring national identity and reputation, and the creator of the field of nation and place branding. He is a member of the UK Foreign Of- fice’s Public Diplomacy Board, and has advised the governments of some 40 other countries from Chile to Bot- swana. Anholt is Founding Editor of the quarterly journal, Place Branding and Public Diplomacy, and author of five books. He publishes two major annual surveys, the Anholt Nation Brands Index and City Brands Index. b

According to Anholt, all of us have to them, in a rigorous and scientific way. the very start. There is hope for the Finns need for these comforting stereotypes that The governments must understand exactly yet, Anholt insists – even if he is generally enable us to put countries and cities in con- how and where this affects their interests in of the opinion that countries get the reputa- venient “pigeon-holes”. We will hold onto those countries and sectors. tion they deserve, the maestro is willing to our stereotypes too – and abandon them on- Second of all, if the governments col- give Finland the benefit of the doubt. ly if we really have no other choice. laborate imaginatively, effectively and open- “Perhaps Finland is one of those rare The point that Anholt wants to make in ly with business and civil society, they can cases of a country that truly does deserve a his new work is that national reputation can- agree on a national strategy and narrative better reputation – it just hasn’t been very not be constructed; it can only be earned. Im- – the ‘story’ of who the nation is, where it good at telling its story.” agining that such a deeply rooted phenome- is going and how it is going to get there – But even a small country like Finland non can be shifted by so weak an instrument which honestly reflects the skills, the gen- is flooded with stories –is Finland a dark, as marketing communications is an “extrav- ius and the will of the people. cold place where high school killers run agant delusion,” he believes. Third, governments should ensure that rampart or is it a hi-tech heaven with the their country maintains a stream of inno- world’s best education system? Anholt ac- vative and eye-catching products, services, knowledges that shocking news tends to be Three Keys to Success policies and initiatives in every sector, keep- more potent than reassuring news, but it’s What is the solution then? Anholt digs deep ing it at the forefront of the world’s atten- still a matter of proportion. to uncover the answer and comes back with tion. This public exposure serves to demon- “Finland just needs to make sure that this quote from Socrates: “the way to achieve strate the truth of the national narrative and it produces a constant, unbroken stream of a better reputation is to endeavour to be what proves the country’s right to the reputation achievements which are as good as, or better you desire to appear.” its people and government desire to acquire. than, the PISA results so that the bad stuff is This means that the countries genuine- crowded out. But the most important thing is ly interested about doing something to pro- Exception to the Rule that these projects or events need to be rele- mote their image have their work cut out vant to people in other countries, or else it’s for them. There’s no quick fix scheme and But how does Finland fit into the master just propaganda. “ no short cuts. Instead, there’s a three point plan? Should Ollila’s nation branding team Also companies should carry the torch: agenda that they must follow. simply pack up its PowerPoint presentations “If a country has powerful commercial According to Anholt, the first thing and forget the whole thing? ambassadors – Nokia being a good example that the governments must do is understand Actually, Anholt claims that it has been of this – then those corporations can play a and monitor their international image, in the a pleasure working with Ollila’s team be- big part. If a country has none, then this is countries and sectors where it matters most cause they have understood his point from a serious disadvantage.“ b

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www.dtz.com/ﬁ Tel: + 358 (0)10 836 8400 SELLING FINLAND

The Family Plan Marketing wiz Petteri Kilpinen explains how Finland can become the next Silicon Valley

Marketing an entire country is one tall order – but the upside of nation branding is so appealing that most countries simply can’t resist. In Finland, the nation branding team headed by Jorma Ollila – of (mostly) Nokia fame – has been honing its strategies for a year now. Especially the Finnish media has been keen on the subject, but the members of Ollila’s team have not been very forthcoming with their work so far. Photo: Finnish Tourist Board´s Imagebank / Matti Kolho

12 Nordicum etteri Kilpinen, CEO of TBWA Helsin- ki, has been observing the debate with THE PRODUCT: P interest. He comments that many people criticise Finns for trying to fix everything Turun Sinappi with committees and working groups – but if you don’t first plan your action, the like- ustard can be very patriotic. lihood of failure is great indeed. Case in point: the venerable Tu- “If there is no direction of any kind, M run Sinappi – Turku mustard – there can hardly be a roadmap for success,” with its iconic castle logo and memo-

he says. rable commercials became a part of the Photo: Unilever Finland Oy Kilpinen should know what he’s talk- Finnish culture over the years. Launched ing about – according to recent advertising in Turku in 1948, the “national” mustard agency research, he is the most well-known was originally manufactured by Finnish CEO and the most wanted partner within the Jalostaja. However, as Turun Sinappi was industry in the land. The marketing wizard snatched off by global giant Unilever the feels that especially in the present economic decision was eventually made to shift pro- situation it is vital that all tools are utilised to duction to Sweden in 2003. get Finnish competitiveness back on track. Finns, however, would not take thiss lying down. A Pro Mustard movement roseose Magnetic North and gained momentum rather quickly – large-arge- ly thanks to the media savvy of Visa Nurmmi, i, a re- A new strategy is needed to lure foreign in- cently deceased marketing man. Nurmi andnd his cohorts vestments, professionals and students into could not stop Turun Sinappi from exiting the country but the movement the country. The new Aalto University could did help kick-off a strong rival. serve as catalyst for this process: Aura Sinappi – Aura being the river which runs through Turku – be- “Finland could target hi-tech compa- came an instant hit product. Aura Sinappi is made in Turku by a family com- nies who could rally around the Aalto Uni- pany. Turun Sinappi, on the other hand, did not stay in Sweden for very long versity,” Kilpinen says, picturing a Silicon and is now manufactured in Poland. b Valley type of a international setting. But why should cutting-edge companies flock to Finland when there are plenty of other equal- ly tempting alternatives out there? Kilpinen answers that a new kind of family-orientation and the pull of a happier, healthier lifestyle could well attract young ing worked in Paris for three years, Kilpi- bolder mentality where there would be less talent to the North. nen knows that the French are sometimes looking for approval from others. He talks “There is quality of life and sheer well- so impressed by the past that they forget to- about a “teacher’s pet syndrome”. being in the Nordic countries that you will morrow. “Our own way is the best way. We not find anywhere else,” he claims. There’s He adds that the French ways of work- should not go around trying to adopt mod- time for family and friends and safe envi- ing also constituted to a full-blown culture els from other countries.” ronment is a big plus: shock: Kilpinen notes that the Finnish identi- “An American friend of mine says that “There was no quick, clear decision- ty is often based on comparison: “the Japan he knows of no other country where you can making process at all,” Kilpinen reminisces. of the North” or “Poor man’s America”. This send your kid off to school by bus and not Nevertheless, Kilpinen claims that he “fell approach does not bode well in the brand- worry about it.” in love” with the country and its culture and building business, he says. According to a recent British study, would like to see such passion for, say, liter- Finland is the world’s most prosperous na- ature, in Finland as well. Nail the Narrative Another country that Kilpinen is quite tion when one takes full stock of such fac- Kilpinen feels that a key part of the chal- familiar with is the United States. In fact, tors as health, freedom, security and politi- lenge for Ollila’s team is to get the stories Kilpinen became the new Chairman of the cal governance – in addition to plain wealth. out, the real-life stories of the land and its Board for The American Chamber of Com- Similar news have become commonplace in people. The stories must resonate very merce in Finland in March and is clearly Finland, which is not say that the Finns are strongly in the psyche of the nation or the excited about the challenge. Talking about not tickled pink every time they do well in citizens will reject them. However, a good nation brands, Kilpinen feels that America the rankings. story goes along way. has made a strong comeback under the new Kilpinen, however, sees a slight prob- “The Swedes, for one, genuinely feel leadership: lem with this mentality: that they are fearless Vikings,” Kilpinen “If the Bushes were the worst thing to “Very often in history, yearning for points out, adding that the country has not happen to American foreign policy in a long outside recognition is a sign of a develop- fought a war in 200 years. while, Obama is the best thing.” ing nation.” Yet, despite their collective insecurities

Slave to the Grind the Finnish people can be surprisingly smug Growing Pains at times. In the land of thousand lakes and Kilpinen observes that the US has the same the midnight sun, it’s easy to convince your- Still, Kilpinen acknowledges that Finns are unattractive feature that France has: the self that it’s the place to be – if you keep lis- keen on such merits since the country is both working days are grueling and there’s very tening to the local mantras. However, when small and young, still trying to figure out its little time left for family. Again, this father an ice-cold autumn rain falls, a quick flight rightful place in the world. The good news of five returns to his original point about Fin- to the Bahamas might spring to mind. is that Finns are not too hung up on their land being a regular Shangri-La for families. “We have fallen in love with ourselves own history like some older nations. Hav- In Finland, he would still like to see a in some regards,” Kilpinen admits. b

Nordicum 13 Metropolis: The Making Of Mayors discuss the new Metropolitan Strategy in a joint interview

In recent international competitiveness studies, the Helsinki or this reason, the metropolitan cities – Metropolitan Area has ranked rather well, but the key players of the Helsinki, Espoo, Vantaa and Kauniainen F – set out to create a common strategy a area recognise that staying on top requires continuous development. couple of years ago. The strategy focused on After all, there is a global competition between city regions over themes that the cities could promote with their talented people, thriving businesses and international investments – actions in order to enhance competitiveness. and the competition is getting tougher by the day. NORDICUM sat down with the Mayors of Helsinki, Espoo and Vantaa who feel that the completion of the Competitiveness Strat- egy for the Metropolitan Area – launched in Photos: Sini Pennanen

14 Nordicum the summer 2009 – is excellent proof of the ies is a broad-spanning process which goes solid level of cooperation between the met- well beyond the competitiveness strategy. ropolitan cities. Once the city councils had “We are tightening out collaboration in approved the priorities and action lines to- various fields and will continue to do so in wards the end of 2008, the cities committed the future as well.” themselves to strengthening the competitive- Marketta Kokkonen, Mayor of Espoo, ness in the area. assesses that the cooperation has taken big The drafting of the competitiveness strides of late: strategy was begun in a completely differ- “We have made advances in, for exam- ent economic situation than today, but even ple, public transportation, water services and faced with major challenges there is a strong universities of applied sciences. Also the big consensus that cities must head towards an infrastructure projects of the region require increasingly competitive metropolitan area cooperation,” Kokkonen says, pointing out to – together. the western metro line presently in the works. Juhani Paajanen, Mayor of Vantaa, adds that developing the metropolitan area is also Active On All Fronts important from a national perspective. Jussi Pajunen, Mayor of Helsinki, notes that “The metropolitan area is a driver for the cooperation of the metropolitan area cit- the entire country.”

Nordicum 15 The State has acknowledged the key “Strategically speaking, the most im- role of the metropolitan area. Upon the portant issue is to generate new jobs,” says completion of the Competitiveness Strat- Paajanen who is seconded by Kokkonen egy for the Metropolitan Area, the central who points out that a structural transition government and the metropolitan cities en- is inevitable. tered into negotiations regarding the cen- “We must secure sufficient labour, tral government’s participation in the im- and cooperation is a great tool in this,” plementation of strategy’s nationally impor- she says. tant action proposals as part of the govern- The Metropolitan Strategy crys- mental Metropolitan Policy. tallises the vision for the metropolitan ar- Jussi Pajunen notes that the Metro- ea according to which the area strives to be politan Policy is included on the Govern- “a dynamic world-class centre for business ment Agenda for the first time ever – and and innovation”. According to the guiding it appears that the Metropolitan Policy is vision, the Metropolitan area will be brim- there to stay. ming with high-quality services, art and “Also future governments are likely science, creativity and adaptability, pro- to include it on the agenda.” moting the prosperity of its citizens and As for the implementation of the first bringing benefits to all of Finland. Policy, Pajunen remarks that it is very much “Already one third of the GDP is a learning process, but the start does con- generated here,” Pajunen says, adding tain promise. that in the future, geography will come “There are new opportunities emerg- into play more and more. Building tight- ing all the time.” er networks with the neighbouring St. Pe- tersburg and Tallinn offers many enticing Roots Run Deep opportunities, for one. Acknowledging that the future does Within the past two and a half years, the look very exciting, Kokkonen remarks competitiveness strategy has been honed that one must be vigilant for the “signs over and debated – but the roots of the of the time”. process run considerably deeper, points “In the formation of the Aalto Uni- out Marketta Kokkonen. versity, for instance, I feel that this has “We’ve had cooperation for decades, been done very well.” and fixed structures in place for this pur- Paajanen comments that as geogra- pose,” she says, while admitting that now phy and efficient logistics are increasing the cooperation is, indeed, entering a new in importance, it is prudent to note that the phase: Metropolitan Area is rather well prepared “This is a challenge for the politi- to face the future. cians, but also for the officials of the cit- “The Helsinki-Vantaa Airport is ies in question – the depth and intensity of world-class and so is the new Vuosaari the process will be demanding.” Harbour.” Juhani Paajanen agrees that the next development phase will require new oper- Top Four ative models: “For example, one must come to ac- The four priorities of the competitiveness cept that the cities are different and the roles strategy consist of improving top-quality and tasks must be assigned accordingly,” education and know-how; building good Paajanen comments. He adds that at present quality of life as well as a pleasant and se- there are 70,000 municipal employees pro- cure living environment; strengthening us- ducing services in the Metropolitan Area. er-driven innovation environments and de- “That is quite an apparatus.” veloping public procurements; and inter- Despite the obvious difficulties, the nationalisation of the metropolitan area. mayors claim that they are undaunted by Pajunen feels that immigration is the task ahead. one key question, since only time will “The process is a demanding one, but tell whether it will be a positive or a neg- what we’ve seen during the past couple of ative force. years has increased our faith in the com- “In order to make sure that the immi- mon goal,” Pajunen says, receiving approv- gration policies are successful, metropoli- ing nods from his colleagues. tan cooperation is a must,” Pajunen says. All the mayors rank the boosting of user-driven innovation environments as Strategic Choices an important goal – under the Living Lab How bad a monkey wrench is the current concept, the innovations emerge from the recession then? The mayors are in agree- demand of the users and markets can come ment that finances are sparse, but winds to exist almost over-night in such cases. of the day do not make or break long-term “Still, the role of the municipalities plans such as the Metropolitan Strategy. is to provide the proper framework for in- The strategy looks well beyond the cur- novation – not the innovation itself,” Kok- rent economic turmoil. konen says. b

16 Nordicum Photo: Jyrki Komulainen

Mange sud – Mediterranean warmth in southern Helsinki

hen you enter the restaurant Mange sud you are greeted Designing airport excellence with the glow of the fireplace and friendly staff. At Mange W the abundant Mediterranean flavours, considerate service he World Design Capital 2012 is Helsinki and the entire met- and relaxing atmosphere create an environment for pleasant time ropolitan area is busy making plans for the big year. The Hel- together. T sinki-Vantaa International Airport is one of the key pieces in Both regular customers enjoying sea bass from daily menu the puzzle, since it is usually the first thing foreign visitors expe- and group of friends sharing a bowl of bouillabaisse delight in the rience in Finland. Mange atmosphere. All the wines from the extensive wine list can “The airport serves as a gateway to Finland and we want to also be ordered by the glass. make sure that the experience is a memorable one,” says Samuli The daily changing lunch enjoys special reputation; the cosy Haapasalo, President and CEO of Finavia. Finavia is a state-owned restaurant hall is usually filled with work teams searching for inno- commercial enterprise offering airport and air navigation services. vation and smaller groups enjoying the tasty food. b There are 25 airports in the network maintained by Finavia which will become a full-fledged company (still owned by the state) in More information: www.mangesud.fi the beginning of 2010. The crown jewel of the network, so to speak, is of course Hel- Restaurant Mange sud sinki-Vantaa which received new, state-of-the-art facilities in the Tehtaankatu 34 D September extension. Passengers can now enjoy a new restaurant FI-00150 Helsinki world, a number of stores, as well as spacious waiting rooms. Finland Haapasalo describes the current look – and the service offer- Phone +358 207 118 350 ing – as both European and global. [email protected] “The end result is quite pleasing also architecturally speak- www.mangesud.fi ing,” Haapasalo comments. Human Touch According to Haapasalo, the feedback so far has been very positive. People find the airport easy to navigate, and there is plenty of space and services around. “Especially international visitors have remarked that the size of the airport is somehow ‘human’ and that is what makes it so appealing.” The concept for the “facelift” combines enjoyable experiences and fluent travelling. The new extension will have a total area of 39,000 square metres. The extended terminal will be able to han- dle annually 15 to 16 million passengers and 13.5 million items of baggage. “In December we will launch also Via Spa and Via Lounge which will further upgrade the service offering,” Haapasalo adds. b

Nordicum 17 Time to Shine Helsinki wins World Design Capital honours

Helsinki will be the World Design Capital of the year 2012. The designation was announced by the International Council of Societies of Industrial Design (Icsid) at the Icsid World Design Congress 2009 in Singapore on 25 November 2009. Photos: Finnish Tourist Board´s Imagebank

18 Nordicum elsinki Mayor Jussi Pajunen com- “This is a major challenge for us to Seoul (2010). The World Design Capital is ments that the achievement is an im- use design in Helsinki and in the other par- a biennial designation given to one city at H portant recognition for the City of ticipating cities to further the development a time. Helsinki as well as its collaborators Espoo, of our cities from the social, economic and The collaborating cities Espoo, Vantaa, Vantaa, Kauniainen and Lahti. cultural perspectives,” he says. Kauniainen and Lahti will fully participate “We have received a unique opportu- “The work begins now. The effort will in the planning and execution of the design nity and will be taking every advantage of extend well beyond one year and one city. year’s programme. it,” Pajunen said, accepting the World De- The World Design Capital 2012 project will Espoo Mayor Marketta Kokkonen says sign Capital 2012 designation in Singapore. support the long-ranging development of the that the year serves as an excellent founda- The title of Helsinki’s bid for the desig- entire region. The project will also strength- tion to launch the new multidisciplinary Aal- nation was Open Helsinki – Embedding De- en our role in the international community.” to University and to build the university’s in- sign in Life. The theme will form the foun- Mayor Pajunen commends the excel- ternational standing. dation for Helsinki’s ambitious programme lent co-operation between all players in the “The World Design Capital year 2012 for the design year 2012. bidding process that earned Helsinki the des- will also strengthen Espoo’s vision to build Altogether 46 cities from 27 countries ignation. The Helsinki bid was supported by the capital region’s competitiveness on applied for the designation. An international the Finnish government, many schools and the three pillars of arts, sciences and econ- jury first shortlisted Helsinki and Eindhov- universities, and design enterprises and or- omy.” en and then awarded the designation to Hel- ganisations. According to Vantaa Mayor Juhani sinki after careful consideration. Pajunen also points out that design Paajanen, Helsinki’s designation as World should be seen from a broad perspective: the Design Capital 2012 helps to increase the

over-all goal is to build a better city and to im- recognition of the capital region through- Design Belongs to All prove the people’s quality of life. Among other out the world. The World Design Capital project will bring things, design-oriented thinking can be used “Vantaa will emphasise good city plan- a large number of design events and a great to reform public services, Pajunen observes. ning in the Kartanonkoski district and the de- deal of visibility for the Helsinki Region. “The basic values of good design in- velopment of new housing districts on the Programme planning and preparations be- clude user-friendliness, sustainable develop- future Ring Rail Line,” Paajanen stated. gin immediately – Mayor Pajunen is invit- ment and enjoyment.” For the time being, the planning and ing all citizens, enterprises and organiza- preparations for Helsinki’s World Design tions in Helsinki, as well as visiting design Proud Legacy Capital 2012 project are directed by Pekka professionals and enthusiasts, to participate Timonen, Director of the City of Helsinki in the preparations and the events of the de- Helsinki will be the third World Design Cultural Office, who also managed the bid- sign year 2012. Capital, following Turin (Torino, 2008) and ding process. b

Nordicum 19 Factory 2.0 Aalto University introduces next practice workshops

Finland is known its education edge, Photos: Janne Lehtinen but it has been lacking a world- class university. Aalto University – a newly created entity resulting from the merger of three Finnish universities: the Helsinki School of Economics, the University of Art and Design and the Helsinki University of Technology – wants to remedy this situation.

alto University will begin operating in January 2010, opening up a new A world of possibilities for multidisciplinary education and research. The lofty goal of the new education powerhouse is to become an international elite university in ten years. Tuula Teeri, President of the Aalto Uni- versity, says that the objective is so demanding that the next decade is bound to be a busy one. “We must work in a highly organised manner to achieve this target,” she says. Teeri’s recipe for success includes trouble- shooting – preferably in advance – and con- stantly finding new ways of operating. “We must do things in new ways and forge new partnerships along the way.” Brain Power Leading the charge into the brave new future, there are the Factories. These new “expertise workshops” are based on areas in which the three universities already cooperate. The Factories are environments for learning, teaching, research, and co-creation. Within the Factory concept, academic teams and projects, as well as companies or communities, work together to create something new. The existing Factories are Design Fac- tory, Media Factory and Service Factory – but that is not to say that their number is set in stone. Tuula Teeri explains that the core idea behind the Factory ideology is to keep them dynamic:

20 Nordicum Photos: Janne Lehtinen

collaborating with – be it design or something else. “There is a global trend that companies tend to go where the good universities are. We welcome also international companies to work with us.” Mastering Media The Media Factory is an open network with a goal to identify new interesting areas of media research, launch joint research projects and look into possibilities for collaboration in teaching. The key areas for the Media Fac- tory are media technologies, media production and management and media concepts and communications behaviour. The Media Factory encompasses the entire communication and material chain of the media, starting with the raw materials. The chain features research of media production and media technologies, formation of media content and messages, the creation of media concepts, the reception of messages, media consumption and, ultimately, the behaviour of media consumers. The Factory wants to become world- famous for its knack to bridge the arts, technology and business. One of the key objec- “In the future, we might add new Fac- companies have embraced the opportunity tives is to recognise, support and utilise the tories as need arises. On the other hand, we to work with the Factories: diverse media-related competencies in Aal- can also discontinue Factories if we want.” “We’ve had a lot of companies involved to University. The workshops support international in the Factory projects. The best part about principles, open innovation and an over-all their involvement is that the companies are Smart Service interdisciplinary attitude. The objective is really active participants in the projects, that the research information will be seam- not just sources of funding,” Teeri says, de- Service Factory identifies new areas of serv- lessly transferred into teaching. scribing fruitful collaborations where stu- ice research, carries out collaborative re- “The key here is to provide a truly mul- dents and corporate professionals both get search through the use of thematic and net- ti-dimensional package. There is coopera- a hands-on feel of the process. worked projects and provides a framework tion within the university and with outside for collaboration in teaching. It strives to parties in an unprecedented way,” Teeri says, All-You-Can-Design make new research discoveries and to be at adding that the Factories differ from regular the forefront of service research, develop According to Teeri, the Design Factory is joint research projects in their extremely di- education on services and contribute to the probably the clearest example of the new verse and flexible nature. creation of service innovations. approach. “The Factory concept is very important Topical themes and areas of expertise Interdisciplinary teaching and net- to us and we want to keep developing it.” include Service innovation and manage- working are important forces in all Facto- ment, Service design and experience, Serv- Banking on Innovation ries, but Design Factory may have succeed- ice systems and infrastructure and Service ed in creating the most relaxed atmosphere engineering and metrics. Of course, the new President knows that you when it comes to limits and boundaries. The ideology behind this Factory ob- need something special to differentiate from “Anyone can walk into the Design Fac- serves that the shift from product-dominant the competition. Lots of universities have tory with a project and see what happens.” to service-dominant activities turns the at- convincing research and teaching activities, While most universities utilise the tra- tention towards service processes and con- but Aalto University wants to take this one ditional give-and-take teaching method, the texts. The transformation of traditional man- step further. Aalto is striving to be a genu- Design Factory seeks to facilitate learning ufacturing industries into service business- ine innovation university where the best ide- by creating situations, networks and oppor- es calls for fresh thinking. as and best talent come together to the tune tunities that are inspirational to learning. of ringing cash registers. Combining the teaching of technical School’s In After all, the research here is geared disciplines, economics, and art should help towards commercial application in one way create powerful design. In order to produce While the Factories are already in full swing, or another – not every idea needs to gener- innovations, the Design Factory must op- Tuula Teeri and her staff have plenty of oth- ate massive cash flow, but the mindset is erate in all the quadrants of learning at the er things to do before the school officially still more entrepreneurial than one is used same time and create a system that allows for opens its doors next year. to seeing in Finnish academia. specialisation but also improves the under- “We’re still building the organisation, According to their initial roles, the De- standing of synthesis practices. This is the but bit by bit the work is becoming more sign Factory concentrates on product devel- way, after all, that innovations have emerged ‘normal’,” she says. opment, Media Factory focuses on media in such companies as Nokia, Apple or Kone. “There are a lot of issues to deal with, and Service Factory on services that produce Tuula Teeri notes that it’s not only the but we also have a lot of ideas and want to higher added value. Teeri says that many Finnish companies that Aalto is interested in do this the right way.” b

Nordicum 21 City Campus Emerging “Executive Factory” launched in downtown Helsinki

The waves of Aalto University are felt very much in downtown Helsinki. Executive Education, a part of Helsinki School of Economics (HSE), moved into new premises in November 2008. HSE, of course, is the business arm of Aalto, with Helsinki University of Technology and University of Art and Design Helsinki delivering engineering prowess and design, respectively.

he new home for Executive Education the first year in the new headquarters has ki student organisations use the premises as is Domus Gaudium, with EE owning 40 been a very pleasant experience. well. However, the two camps rarely come T percent of the building. HYY is in con- “Previously, we had our operations in into any contact since the students have trol of the majority share. The HYY Group, a single floor of a Ruoholahti office build- their various functions usually after office in turn, is owned by the Student Union of ing, and now we are excited to be in ‘our hours. the University of Helsinki. own house’, so to speak.” “Actually, I am rather surprised how Stiina Vistbacka, Managing Director Vistbacka doesn’t lay claim on the en- little we bump into each other here,” Vist- of HSE Executive Education Ltd., says that tire property, since the University of Helsin- backa laughs.

22 Nordicum Solid Platform Yrjö Herva, Business Director for the HYY Real Estate, says that about 2/3 of the building is used by Executive Education while the students use the remaining third. “The archives functions of HYY are here and three faculty associations and three students’ clubs use the premises as well.” Vistbacka and Herva acknowledge that the students have had a rowdy party or two during the first year, but on the whole, the symbiosis has worked out well. “We have a good platform on which to build for the future,” Herva says, with Vist- backa clearly agreeing. Within the last twelve months, Domus Gaudium has become a strong engine for Finnish business, with HSE EE bringing world-class education to international executives. With superb facilities at its disposal, the institute is likely to yield many future generations of Finnish business leaders. Vistbacka says that the students of HSE EE have given very good feedback on the premises. The building has been char- programme – blue-and-white leadership, ternational operative model that can bene- acterised as modern and timeless, featuring so to speak? fit Aalto a great deal,” Vistbacka says. Fur- impressive visuals. Vistbacka believes that there are, in- thermore, Aalto wants to position itself be- “There is a lot of light, and the use deed, certain leadership qualities that define tween the corporate world and the academ- of wood makes for a nice atmosphere. The good Finnish leaders. ic world, which has always been the strong premises are flexible enough, promoting a “Integrity and character come to mind, suite of HSE Executive Education. certain sense of sustainability.” as well as willingness to engage in dialogue “We can serve as a bridge-builder in and encourage low hierarchy. The Finnish this regard,” she says. Born executive is a democratic leader who is International straightforward in his or her actions,” Vist- New Wave backa comments, adding that equality is al- Coming Domus Gaudium is also a dynamic centre so one of the key values for Finns. According to Herva, HYY Real Estate is of international activity, as about half of the More and more, Vistbacka has come to proud to be a part of the “new wave of ed- operations of Executive Education are very notice that Domus Gaudium complements ucation”. In addition to boosting academic much global. this value system very well. pursuits, however, the Real Estate division “About half of the professors and stu- “The building, in a sense, supports the of the HYY Group serves commercial and dents come from outside of Finland,” Vist- prevailing image of a Finnish executive.” backa says, adding that the degree pro- office customers. grammes are also carried out in English. Scope HYY properties are primarily located The premier calling card for the or- Expanding in the centre of Helsinki around the Ylioppi- ganisation is the HSE Executive MBA – one lasaukio and Kaivopiha squares. Kaivopiha of the leading Executive MBA programmes The location of Domus Gaudium on Meche- Ltd manages, rents and maintains the prop- in all of Europe. The programme has func- lininkatu street, near Kamppi Shopping Cen- erties of the Student Union. tioned in Helsinki for two decades and more tre, has been found to be a very good one. Herva says that despite the recession than 600 business executives have graduated Herva notes that the existing two HYY stu- HYY has had little trouble filling the premis- from the Finnish unit alone. The programme dent houses are located in the very core of es. By October 2009, the occupancy rate for has spread also to Korea, Singapore, Poland, downtown, but Domus Gaudium is expand- the year was over 98%. China and Taiwan and the number of grad- ing the concept of the city centre. “Our set target for 2010 is slightly low- uates abroad is around 2,300. “The area has a lot of appeal, but as er at 95%,” Herva says. there is construction still going on in the All and all, the real estate assets of “This autumn, the Financial Times € ranked our Executive MBA as the 55th best neighbourhood, we have to wait a while be- HYY are valued around 140 million, programme in the entire world – which is fore the block reaches its full potential,” Her- showing a drop of 10-20 million in contrast some achievement considering the number va analyses. to the previous year. This, however, does not of programmes out there,” Vistbacka says. For the innovation university Aalto, mean much since HYY is not looking to sell In over-all rankings of executive education Domus Gaudium is an important “beach- any of its properties. (that came out in the spring) HSE EE came head” in the downtown environment – a city “Quite the contrary, we would rather in at 42. campus in the making. While Aalto Univer- explore various options for growth,” Her- sity already has its Factory concept – with va comments. Leading the Way Design, Media and Service units – one could Also existing assets can be utilised in make a point that another de facto factory is more efficient manner. With most of the graduates coming from Executive Factory. “At Domus Gaudium, for instance, abroad – the vast majority are from Korea, “From a global perspective, Executive there could be an additional player,” he says, actually – one is curious to learn, is there Education is right there in the forefront. We hinting at a possibility of an underground su- something distinctively Finnish about the have broad networking experience and an in- per-medialab. b

Nordicum 23 GRENKELEASING makes IT leasing possible

GRENKELEASING is one of the e have a service that is flexible tivated, and a customer relationship has been biggest IT financing companies and fast,” says Managing Di- established, the renting of new equipment “W rector Teemu Simola. will be even faster. Grenke will always make and is independent of banks and “We provide a personal contact for sure that the customer has received all the manufacturers. Grenke operates dealers and participate in joint market- products. Customers will be well informed in 20 European countries and last ing with them. Starting with a 500 euro pur- about their leasing agreements. chase, you can start renting IT equipment Price comparison also supports leas- year started also in Finland under or basic software regardless of the model ing very strongly. Leasing saves capital for the name GC Leasing Finland Oy. or manufacturer.” operational expenses and helps estimate the total costs more easily. The products are al- Grenke offers contracts in the field of small-ticket IT leasing for such For Companies of All Sizes ways up to date and they are managed more effectively. Grenke can help also your com- products as PCs, notebooks, copiers, Grenke often talks directly to the end cus- pany to compare the benefits of leasing. b printers, software or state-of-the- tomer to customise the leasing contract to fit art technology such as medical the need. This enables faster implementation More information: www.grenke.fi equipment. of the leasing contract and acquired equipment. When the first leasing contract is ac- Contact information on page 63.

24 Nordicum Photo: NCC / Voitto Niemelä REAL ESTATE SPECIAL REPORT

Nordicum 25 REAL ESTATE SPECIAL REPORT Waterfront Revisited The coming decade will transform

Helsinki’s shores Photo: City of Helsinki

elsinki is faced with chang- the works anywhere else, but these issues, Sitra hosted an in- ready in progress also. Kalasa- H es on a magnitude that has London is some sort of a kin- ternational contest to draw out tama will be planned for 18,000 not been seen for more than a dred spirit in many regards: the best ideas on how to build a residents and 10,000 jobs. Floor century. “London is dealing more modern seaside community with area is 1,350,000 m2 in total. Hannu Penttilä, Deputy with brownfield than greenfield, a green edge. One of the questions that is still Mayor (City Planning and Real but they have the same focus on With the selection of a somewhat open concerns the Estate), says that 2009 and 2010 density as we do.” team comprised of Arup, Sau- ratio of apartments and offices. will see development to the tune The first area to experi- erbruch Hutton, Experientia and Penttilä remarks that the pictur- of € 750 million – for each year. ence a strong wave of develop- Galley Eco Capital, the compe- esque seaside community – that “This is an impressive ment is Jätkäsaari (West har- tition is now moving from ide- already has a metro connection pace we want to keep up,” Pent- bour) where construction start- as to implementation. This next – will need both. tilä says, acknowledging that re- ed in the summer. According to phase includes design develop- “In the long run, Kalasata- cession is still very much a fac- the plans, Jätkäsaari is supposed ment of the architectural and ma is one of the best locations tor in the plans of just about eve- to evolve into quite an extraor- strategic solution – and also out there, but it can be demand- rybody. Still, in trying times you dinary neighbourhood. Finnish many activities targeted at raising from the investor’s point of must show leadership through Innovation Fund Sitra wants to ing the level of awareness in the view.” example – and Helsinki wants raise an “innovation block” in sustainability discussion. At present, the master plan to do just that. Jätkäsaari – an area that would “And it is not only the Sitra calls for small shops and other “It is widely recognised showcase energy-efficient re- block that will benefit from the services to vitalise an environ- that economic growth comes al estate construction and so- innovations: we expect the ide- ment. Given time, Penttilä be- from metropolises and the Hel- lutions. as to spread to the neighbouring lieves that the neighbourhood sinki Metropolitan Area is one Sitra maintains that the blocks as well,” says Penttilä. will feature a very wide range of the fastest growing regions in built environment is now the of services. The City remains the EU,” he says. largest negative factor in the Finding open to dialogue with all con- stability of ecosystems and the the Right Balance cerned parties about any ques- Complete Makeover climate. The evolution of cities tions concerning the Kalasatama will shape the outcome of man- Planning for the replacement project – and recently launched Penttilä is not aware that a sim- kind’s dependence on natural of Sörnäinen Harbour and Ha- a contest for visionaries to get ilar “complete makeover” is in resources. In order to address nasaari with Kalasatama is al- the ball rolling, also.

26 Nordicum Helsinki, the Daughter of the Baltic Sea, is about to receive an unprecedented beauty treatment. The Launch of the Vuosaari Harbour will completely transform the inner city as all cargo port operations have been transferred from the West and Sörnäinen harbours to Vuosaari. Railway carriage operations will also cease in Keski-Pasila. These measures will free seven kilometres of shoreline and a large piece of land next to Pasila, the second largest train terminus in Finland.

Kruunuvuorenranta is an- the Pasila towers could be up by with national significance. Fin- should be full of variety and other seaside area with plen- the end of the coming decade. landia Park, located between the life, offering something for eve- ty of promise and Penttilä says “We have been working on Töölönlahti bay and the down- rybody. that the realisation of the neigh- the city plan and solving prob- town, is expected to add versatil- “The area should have bourhood will differ somewhat lems one by one,” Penttilä de- ity to already prestigious neigh- more design boutiques, for in- from the norm: there will be scribes the process. He believes bourhood. For instance, the Fin- stance, as City officials are mov- open planning and development that, one day, the mid-Pasila ar- landia Hall and National Opera ing out,” Penttilä explains. phase, spurred on by a comple- ea will be the most coveted are located there, and the much- tion here. business premises area in all of talked about Music Centre will “In Arabianranta, on the southern Finland. start operations in 2011. Design other hand, the construction is “Initial outlines have been “The park is supposed Capital almost complete,” Penttilä says, made and the City of Helsinki is to feature also brilliant office The late November selection clearly pleased with the modern, eager to move forward,” Pent- premises,” Penttilä says, hint- of Helsinki as the World De- versatile community by the sea. tilä says. ing that the first business pal- sign Capital 2012 is a matter To speed things along, the aces could be realised in early of great significance for the en- Vertical Dreams City and the State of Finland are 2010s. In the Deputy Mayor’s tire metropolitan region, assess- arranging an investor and archi- mind, the park is also the best es Penttilä. Moving inland from the water- tecture contest in 2010. The City place for the main library, the “I feel that architecture front, we find Pasila, a “spec- can not call all the shots here, location of which has been de- and city planning represent de- tacular transportation hub”. since the majority of the land is bated for a longest time. sign at its very finest.” The existing plans call for tow- owned by the State. Fortunately, “The central library could Penttilä is convinced that ering skyscrapers for both resi- the City and the State share an open its doors in 2017 which is Helsinki has succeeded in striv- dential and business use. There equal desire to develop the area. the centennial year of Finland.” ing for a certain “equality of could be as many as ten towers Penttilä is also keen on the beauty,” meaning that the en- in total, with the tallest building Finlandia Park South Harbour project where the tire cityscape can be aestheti- reaching 40 storeys and even the in the Making aim is to “reclaim the shores”; cally pleasing and attractive. smallest hitting 20. Going verti- to allow citizens and tourists ac- “At the same time, we have cal like this is something quite Travelling south from Pasila, cess to the sea again. The new- an environment that is also func- unprecedented in Finland – and there is another exciting project and-improved South Harbour tional and sustainable.” b

Nordicum 27 REAL ESTATE SPECIAL REPORT

Länsimetro Nykyinen metrolinja Metroasema Asemavaraus Kuilurakennus Ajotunnelit

Sixteen minutes of fame Construction of west metro line kicks off

The construction phase of the west metro has been have fixed costs to the tune of one in many ways,” he says, add- launched. At the end of November, the construction 80 million euros.” Of this fig- ing that the launch of an ultra- ure, 50 million consists of plan- modern metro line should raise commenced in Ruoholahti, Helsinki – and Finland’s ning costs and 30 million comes some eyebrows also internation- largest infrastructure project is finally ‘GO’. The from purchases. ally. With the advent of the new brand new metro line will be opened in 2014. line, for example, the entire met- Split the Bill ro system will adopt fully auto- mated trains. The total costs of the west metro “Similar driverless sys- he west metro is a long-time Olavi Louko, Technical are estimated at € 713.6 million. tem was piloted in Barcelona,” T dream for the citizens of the Deputy Mayor for the City of Espoo and Helsinki have agreed Kokkinen explains. The idea is capital region. Metro traffic be- Espoo, believes that the time is to distribute the costs in accord- to utilise top technology that gan in Helsinki in 1982 and the right to roll up the sleeves and ance to a “split at the border” has already proven itself in ac- metro line has been expanded start digging. principle: both cities will cov- tual use – this way, there is no many times since. The exten- “The metro line is one of er the costs of construction in- need to fight through the bugs sion of the metro line to Espoo the key engines for develop- curred in their own areas. Sub- of the pilot stages. has been on the table ever since ment in the region and a strong sequently, Espoo’s share will According to Olavi Louko, the metro was introduced, and backbone in times of econom- be 72 percent and Helsinki’s 28 the metro will be very different the development of the public ic turmoil, also,” he says. Find- percent. from the current one. transport system from Helsinki ing construction experts is now Furthermore, the State has “In addition to hi-tech so- to the west has been studied on easier than, say, two years ago, agreed to participate in the con- lutions, also safety issues will several occasions. since there isn’t too much build- struction costs of the west met- be world-class.” The design process for the ing going on in the land. ro with a share of 30 percent. west metro was finally launched “The price level is quite Kokkinen states that the Daily Passengers: in March 2007 as the Espoo City reasonable right now,” he says. metro project is also a very 100,000 + Council and the Helsinki City Matti Kokkinen, Manag- green venture, since quali- Board came to see eye-to-eye ing Director of Länsimetro Oy, ty public transportation is one The metro will connect the on the issue. The construction of agrees with Louko’s assessment: of the key issues in the fight southern parts of Espoo to the the west metro was approved by “At present, the price lev- against Climate Change. regional rail transport system. It both City Councils in May 2008. el is that of 2007 and we already “Timing for this is a good is estimated that nearly 100,000

28 Nordicum passengers will use the metro signed to have a tight connection also be given to the lighting of hood of Keilaniemi still has un- daily and that around 60,000 to the local environment and its the stations. Natural light will tapped real estate potential. will cross the border between construction, services and traf- be exploited where possible “There is space for com- Helsinki and Espoo every day. fic connections. The individual and over all, lighting solutions panies and for residential liv- “Ultimately, the daily vol- needs of each area will be taken will aim to promote accessibil- ing, also.” ume may be as much as 150,000 into consideration in the design ity and prevent glare. There will Mäkinen is charged with people,” remarks Kokkinen. of the stations’ surroundings. be no separate ceiling designs; the development of the Tapiola- The western expansion ceilings will be shotcreted. The Otaniemi-Keilaniemi triangle – will introduce seven new sta- master plan calls for all stations and happy to note that the met- tions, located in Espoo at Ma- The Look to be accessible and each level ro line will boost the profile of tin kylä, Jousenpuisto, Tapiola, One of the starting points of the easy to reach. each of these key areas. Otaniemi and Keilaniemi, and design is instant recognition: “Behind the development, in Helsinki at Koivusaari and that you can but glance at the Developer’s Dream? there is the City’s T3 strategy, Lauttasaari. A further station is station from the train and know bringing together culture, sci- planned for Niittykumpu in Es- immediately where you are. The locations of the stations ence and business which are poo. The metro ride from Ma- “We have great freedom have been decided with a view the strong points of the trian- tin kylä to Ruoholahti will take of expression here and a lot of to the current and future needs gle,” Mäkinen explains. 16 minutes. surfaces to carry the message,” of the area. The metro has been The west metro will be Kokkinen says, while adding designed in close cooperation 13.9 kilometres in length, com- that the focus will still be on with city planners and land use Open Eyes, prising two parallel tunnels trav- the long-term usage. and traffic designers. The met- Open Minds elling underground for the en- “We want visuals that still ro is a long-term project, where tire length of the track. In addi- look good after hundred years.” the ultimate benefits will take During the last year or so, both tion to the stations, excavation The platforms will be 90 years to materialise. Louko and Kokkinen have ob- work will be carried out for fif- metres in length, spacious and Nevertheless, both Louko served that the recession has not teen vertical shafts designed for unbroken, with tracks located on and Kokkinen are excited about culled the ranks of the would- emergency exit, pressure equal- both sides. The stations of the the prospects for development in be partners. Having issued a call isation, ventilation and smoke west metro will be fitted with the vicinity of the stations. for visionary thinking, they feel extraction. Nine work tunnels platform screen doors, increas- “Especially Matinkylä and that the project has, indeed, re- have been designed for con- ing passenger safety in the plat- Jousenpuisto have a lot of poten- ceived innovative input from struction and maintenance work. form area. tial, but also more mature are- various parties. Each metro station will “In addition, also the old as such as Tapiola and Otanie- “Many visions have be- transform its surroundings, stations will be equipped with mi offer opportunities for devel- come more solid recently, but creating new opportunities. platform screen doors,” Kok- opers,” Louko says. we can still find room for more The surroundings of each sta- kinen says, adding that the new Antti Mäkinen, Tapiola visionaries in this project,” Lou- tion will be developed towards glass doors will improve the Project Manager for the City of ko comments. uniform and easily accessible “user experience” a great deal. Espoo, adds that also the high- “The window is still open,” zones. The stations will be de- Special consideration will powered corporate neighbour- adds Kokkinen. b

Nordicum 29 REAL ESTATE SPECIAL REPORT

Keilaniemi Station

Keilaniemi station will be located on the he ticket halls will be locat- struction. In fact, the Ring I road narrow strip of land between Karhusaarentie T ed on an underground floor, will be covered to allow passage with access to the platform lev- from the core of Tapiola to the and Keilaniementie at the Fortum head office. el using lifts and escalators. The seaside. There will be two entrances to the metro station, platform will be around 20 me- “There will be residential with the main entrance located at the south end tres below ground level. buildings with spectacular sea- of the station and the north entrance situated The Keilaniemi area is side views,” says Olavi Louko. home to several high-profile While the Ring I is being re- near the bend in Keilaniementie. companies at the forefront of modeled at the same time, the Finnish business life. The sta- planners have their work cut out tion will thus act as the termi- for them. Still, Louko, Kokki- nus of thousands of commut- nen and Mäkinen perceive no ers. The multinational compa- real problem with many sepa- nies situated in the area create rate projects taking place simul- the need for the construction of taneously: additional office space. “Actually, the over-all Furthermore, the location schedule should be tighter due of the area in the fabled Tapiola to this, so we are expecting a garden district offers ample op- fast realisation,” Louko com- portunities for residential con- ments. b

30 Nordicum High Four SRV introduces residential towers into Keilaniemi Photos: SRV / SARC Architects

New age is dawning for the Keilaniemi-Tapiola area as the construction of the metro pushes west from Ruoholahti, Helsinki. The excavation started in November and the western metroline should be up and running by 2014. The metro line will dive under the sea to surface again in Keilaniemi, the most high-profile corporate neighbourhood in the land. The proud towers of such companies as Nokia, Kone and Fortum will get more company over the coming years – and, as it turns out, not all buildings will be jam-packed with office premises.

roject Director Tuomo Pou- storey buildings which will be rection. The round shape also The towers will be more P tiainen from SRV Group ex- realised by SRV. enables space to be used very than 100 metres high, so the plains that the company is look- According to initial plans, creatively. view to the neighbouring Tap- ing to introduce residential liv- the area includes almost 80,000 And what about the size of iola and Otaniemi should be ing into the mix. square metres of residential the apartments then? The plan is something to see – but the real “Keilaniemi Towers will building volume, and the total to offer something for everyone: deal, of course, is the sea. add a strong residential element number of apartments will be there are smaller apartments in “We will be able to pro- into Keilaniemi. The residential around 1,000. the lower part of the towers and vide seaside views which are development plan is an excellent bigger apartments the higher you unprecedented in this country,” fit for the new metro line and we Full Circle go. Furthermore, SRV wanted to says Poutiainen. The Keilanie- are looking to open the first tow- let everybody in on the seaside mi towers will be higher than er at the same as the Keilaniemi The buildings will focus very magic and placed the saunas and Vuosaari-based Cirrus which station starts operations.” much on the aesthetic experi- the club house at the very top. is currently the highest residen- The Keilaniemi Towers is ence: the towers will be round, “This way, everyone gets tial building in Finland at 86 to feature four housing towers. which in turn makes the build- to enjoy the view no matter metres. The plan includes four 27–35 ings “presentable” from any di- where they live.” “Some of the apartments

Nordicum 31 REAL ESTATE SPECIAL REPORT

will probably be bought or rent- metroline company Länsimetro the deck will also reduce noise ed by the local companies.” Oy, agrees with Louko, saying Missing Link and help transform the area in that the towers are a welcome as- The plan also includes a deck many regards. For example, Raising Profile set to the neighbourhood. that would span over Ring I, during the evenings there should “The over-all balance of connecting the residential site be much more action in the Olavi Louko, the Technical Dep- the Keilaniemi area will be im- to Tapiola and thereby adding to area. uty Mayor of Espoo, comments proved, as there will be both cor- its supply of high quality hous- “We’re looking to instil that such apartments have been porate and residential buildings ing. Since Tapiola is known as some metropolitan spirit in missing from Espoo, and is there.” the “Garden City”, also the deck here.” happy to see the situation rec- Tuomo Poutiainen ac- will be transformed into a green, The four towers will im- tified. knowledges that the big garden-like environment. Fur- prove the situation considerably, “The four towers will up- corporate players in the neigh- thermore, the deck will provide since the bottom floors of the grade the skyline which al- bourhood are already excit- the Tapiola residents convenient buildings have been reserved for ready features a set of impres- ed about the prospect of being access to the shoreline, allowing services – the master plan calls sive buildings,” he says. able to house their visiting pro- both pedestrians and bicyclists for cafés, restaurants and the Matti Kokkinen, Man- fessionals so close to the head- to get to the sea. like to help energise the neigh- aging Director of the western quarters. According to Poutiainen, bourhood.

32 Nordicum and one must be able to stick to fic, metro and residential use re- not hindering the project very the schedule at all times. quires some thought: much, since the target is in the Poutiainen, however, is not “Traffic arrangements post-recession world, well into fazed by the challenge: must work during all phases of the next decade. “Actually, it is great that construction,” Poutiainen says. “Under the schedule, the the metro is constructed in con- Therefore, special focus will construction of the first tower nection with the towers. This be placed on the needs of traf- could start in the spring of 2012 way the whole neighbourhood fic during the entire process. and be ready for metro.” will be completed within a rea- One key issue that the The remaining towers sonable amount of time and planners have been wrestling could be realised in two-year in- won’t drag on forever which is with is sufficient parking space. tervals, or faster if need be. The sometimes the case.” The towers will feature parking ground-level access for the met- In addition to the towers space for up to 1,000 cars and ro station will be located on the and the metro, there is also a some of the parking space can strip of land between the tow- third piece in the puzzle. In or- be rented out to local corpora- ers 2 and 3. der to alleviate the constant traf- tions, if need be. SRV has previous experi- fic jams of Ring I, the nearby ences from the neighbourhood, intersection is retooled to allow having just completed the fourth for smoother traffic flow. Taking Start in 2012 and final building of HTC Kei- into consideration the car traf- It appears that the recession is laniemi in March 2009. b

“With the launch of the metro line and the covering of Ring I, we feel that city structure will become more solid. Building high-rise buildings will serve this purpose also,” Poutiainen comments.

Smart Solutions Needed The building of the quartet will be somewhat challenging since the construction has to go hand-in-hand with the building of the metroline – this requires very good coordination,

Nordicum 33 REAL ESTATE SPECIAL REPORT

art of the area is con- students also live in the area; “P served, but there is still the station will be developed in The space left for development,” cooperation with the university Olavi Louko analyses the neigh- and the students. Otaniemi bourhood. Aalto University – herald- station will be The main ticket hall will ed as the “innovation university” located southwest of the be located at the eastern end – will no doubt make a strong of the station, one floor below impression in the area, Louko main building of the present street level. The platform will remarks. OtaniemiHelsinki University Station of Technology, in the be excavated in rock, approxi- “After all, 75 percent of middle of the architecturally significant campus mately 20 metres below ground the Aalto students will study in level. Otaniemi.” area. The main entrance will be located on the west Otaniemi is known for the There are already plans to side of Otaniementie, opposite the main building Helsinki University of Technol- put the building for the Arts De- of the Helsinki University of Technology, while the ogy and its engineering students. partment right on top of the met- western entrance will be south of Tietotie. The metro will bind Otaniemi as ro station. Another intriguing part of the new Aalto Universi- possibility is a shopping centre: ty by connecting Otaniemi and “We could realise it un- the campuses in the centre of derground, on the level with Helsinki with an eleven-minute the ticket hall,” Matti Kok ki- metro ride. A large number of nen says. b

34 Nordicum Innovation Space Aalto University real estate assets are in need of retooling

As the education powerhouse Aalto University stands Master Plan are not protected as such,” Kont- poised for launch in the beginning of 2010, the new entity The famous Otaniemi campus turi explains. possesses also a considerable volume of real estate. Under hosts the majority of the assets Kontturi himself has been Aalto, there are about 40 buildings which feature as much and has some significance ar- on the job – full-time – only chitecturally also. Drawn up since October. The countdown as 260 thousand square meters. by legendary Alvar Aalto – af- to Aalto is hectic enough: ter whom the entire university “We have six people work- n order to care of the real es- “innovation university” desig- is named – the neighbourhood ing here now in November and tate assets, a company by the nation. delivers a simple vision of red 12 by the turn of the year,” he I name of Aalto-Yliopistoki- Kontturi is of the opinion “buildings in a Finnish forest.” says. Next year, a couple more inteistöt Oy (Aalto – Universi- that as the new education enti- “There’s a standing prin- may be hired but the idea is not ty Properties Ltd) was found- ty is kicking off, the transfor- ciple that mandates that all of to marshal a huge roster. ed. The Aalto University Foun- mation will go far beyond mere these buildings are treated as if “We want to focus on core dation owns 2/3 of the new re- administrative structures. Com- they are conserved, even if they business only.” b al estate company and the State pletely new teaching and re- owns the remaining 1/3. search methods are likely come The company was set up to to existence – new ways of do- administrate, uphold and devel- ing things that will require new op the premises and real estate types of premises, also. In order assets of the new university – to give birth to innovation, peo- with the focus on the long term. ple need space where interaction The newly appointed Managing is instant, natural and cross-dis- Director Mr. Kari Kontturi rec- ciplinary. ognises that the real estate arm “This approach to premis- of the university certainly has es is a new one, and there has some work to do. been little time to think it over,” “We are looking at an in- Kontturi says, pointing out that vestment programme that is the formation of a new educa- very challenging indeed,” he tion player of world-class sub- says, explaining that while the stance is a massive undertak- related expenses for 2010 are ing and all issues can not be re- relatively minor (€ 5 million), solved at once. the extensive renovations need- “Still, I am convinced that ed in the campuses will swal- this is a high priority also for the low € 15–25 million on an an- management of the university.” nual level. At present, the premises “This is the required level do not exactly encourage free

all the way until 2018,” Kontturi mingling of the minds as the Photo: Sini Pennanen says. Despite a sense of urgency vision for the school suggests. in the renovation agenda, Kont- “There will be a reorgan- turi and his crew have to bide isation process that will take their time, because the strategic some time.” outlines regarding the use of the premises have not been drawn out yet by the university management. “While we are waiting for those strategic decisions, we do not want to risk unnecessary investments,” he says. Encouraging Interaction At present, the assets have a total book value of € 270 million, churning a turnover of € 37.5 million. Through renovation, and completely new properties as well, the company wants to develop premises worthy of the

Nordicum 35 REAL ESTATE SPECIAL REPORT

Homecoming Otaniemi welcomes Aalto University

s the launch of Aalto Uni- ing within a four square kilome- sity inside Otaniemi,” he de- made within a three kilometre A versity is getting nearer tre area. scribes. radius from the Helsinki Uni- by the day, there is excitement “The PhD and CEO den- versity of Technology’s main building in Otaniemi which is sity is very high. This kind of a building, also designed by Al- the largest campus of the new concentration is essential for the The Place to Be var Aalto.” entity. Of course, Otaniemi is al- success of a small country like As for the main campus of Aal- As for the distance to so much more than academic ex- Finland. Take Otaniemi away, to, Huczkowski doesn’t think downtown Helsinki, it is already cellence: it is a true innovation and what does Finland have?” that there can even be a serious small – and continues to dimin- hub jam-packed with cutting- asks Huczkowski. alternative for Otaniemi. ish. The western metro line will edge companies and research Huczkowski is convinced “Aalto University main feature Otaniemi as one of its institutes. that the arrival of Aalto will play campus should, of course, be key stations in 2014. According to Ari Hucz- to the area’s strengths – and give where Alvar Aalto designed the “The metro will shrink kowski, CEO of Otaniemi Mar- them an added boost. He ex- campus in the first place,” he both time and distance, physi- keting, there are as many as 800 pects Aalto to be in the TOP20 says. Also, “innovation univer- cally and mentally. The centre companies, 16,000 hi-tech proof world’s elite universities by sity” should be where innova- of Helsinki will be just a few- fessionals (including 5,000 re- 2020. tion takes place. minutes away,” Huczkowski searchers) and 16,000 higher “It’s like getting Stanford “Some 50% of all Fin- says. b education students all co-exist- or MIT or Cambridge Univer- land’s hi-tech innovations are

Tapiola Group: Revitalising Tapiola Centre

The Tapiola Commercial ment – in the new part of the es that the metro is a key driv- Centre is about to be commercial centre. The new of- er of that development. Mak- Tapiola Real fering would complement well ing all the pieces of the puzzle revitalised with the advent the current service mix, Immo- fit – parking, bus terminal, new Estate Ltd of the new metro line, new nen believes. Shopping Galleries etc. – is a underground parking and Tapiola Group is also one big challenge. The perfect bal- apiola Real Estate Ltd provides real estate in- upgraded bus terminal. One of the most significant real es- ance is needed to get the com- T tate owners in the area and re- mercial and cultural offering to vestment and management of the key corporate players mains fully committed to the where it needs to go – to anoth- services. Half of the compa- in the Finnish real estate neighbourhood. Immonen him- er level entirely. ny is owned by Tapiola Gen- eral Mutual Insurance Com- area, Tapiola Group, is keen self is a fan of the legendary “This transition will boost Tapiola centre: the centre is a the attractiveness of the area for pany and the other half by on developing commercial true marvel culturally, commer- residential purposes.” Tapiola Mutual Life Assur- premises on Merituulentie cially and historically and all re- However, the required in- ance Company. street. Vesa Immonen, al estate investors would do well vestments are based on the long- Tapiola Real Estate Ltd offers real estate investment, Managing Director of to recognise the unique nature of term benefits, but somebody the opportunities inherent here. needs to fork up the bills in the managing and counselling Tapiola Real Estate Ltd, says “The Tapiola Centre has short term. services as well as manag- that he is extremely satisfied already made its mark, as a “The residents, actors and es real estate investments and fixed assets. The com- to see the wheels finally in ‘green garden centre’ planned real estate owners of the area, as by the best architects of that well as the City of Espoo, look pany also engages in rental motion. time, but it keeps developing in- at these things from different an- business, marketing, house apiola Group is aiming to tensely with regards to its serv- gles. We must be able to bring management and administra- T place specialty stores – ices, traffic and living environ- these views together somehow, tion, maintenance, outsourc- featuring top fashion, beauty & ments.” when we are planning the new ing and sales services. b health services and entertain- Immonen acknowledg- Tapiola Commercial Centre.” b

36 Nordicum Tapiola Station

Tapiola is a legendary lot of expectations befall sides of Merituulentie. The plat- services. The decision to con- cultural environment of no “A Tapiola station because form will be excavated in rock struct underground parking fa- of the history – and the fact that approximately 30 metres below cilities for the joint use of the small national significance. very little has been done in the ground level. commercial centre and the met- Therefore it is crucial that neighbourhood for decades. Tapiola Project Manag- ro station is a demonstration of the overall appearance of Now, Tapiola will be revital- er Antti Mäkinen notes that as cooperation between the differ- the Garden City will be ised,” Olavi Louko comments. Merituulentie is brought down ent operators in the area, Mä- The Tapiola station will be one level, new opportunities will kinen comments. visible in the design and integrated with the Tapiola com- emerge. Tapiola has been waiting implementation of the mercial and traffic centre. It is “Structurally, the area for a City Theatre for a while station. estimated that around 20,000 will be more cohesive,” Mä- now, and Louko reports that the passengers will use the station kinen says. zoning plans are going forward. daily, making it the most popu- The metro has already giv- “Probably the marching lar station after Matinkylä. en a significant boost to Tapi- order is that first there will be The station will be located ola’s development, aimed at the metro, then a congress hotel on the north edge of Merituulen- strengthening the centre of Ta- and finally the theatre.” b tie street. Entrances to the tick- piola from the perspectives of et hall will be located on both both housing and commercial

Nordicum 37 REAL ESTATE SPECIAL REPORT

Jousenpuisto Station

The Jousenpuisto e have intriguing “There could be compact an initial metro station reserva- station will be situated in “Wpossibilities for joint residential apartments in the tion has been made. The prop- parking here, since metro and neighbourhood,” envisions Ant- er excavation will be performed Niittymaa, at the northern various sports functions can ti Mäkinen. in any case, and time will tell edge of Jousenpuisto park, utilise the same parking,” says The station designs also al- when the Niittykumpu station on city-owned land south Matti Kokkinen. With 35–50 low for construction on top of will open its doors. of the tennis halls. big sports events held annually, the metro station. “Sooner or later we will see there is a great need for park- The entrance to the sta- also Niittykumpu station in ac- The station will be ing in the area – but at the same tion will be located at the west- tion,” Kokkinen promises. He is characterised by the time, also metro users benefit ern end of the station, along Koi- not ruling out a scenario where proximity of the sports from ample parking space. vu-Mankkaantie road. The tick- Niittykumpu does, in fact, open The surroundings of the et hall will be located just below in 2014 along with the others, park and versatile sporting Jousenpuisto station are quite ground level, and the platform but there are hurdles to cross opportunities ranging from undeveloped, offering a wealth will be around 27 metres below along the way: tennis and floorball halls to of opportunities for the devel- ground level. “The land use in the area is an indoor ice-skating rink. opment and further construction Near Jousenpuisto, one not optimal and the structure of of the area. finds also Niittykumpu, where the area needs more cohesion.” b

38 Nordicum Matinkylä Station

The Matinkylä station will be located on the atinkylä is a key sta- witness a boom in complemen- empty lot at the southern end of the Iso Omena “M tion since most feed- tary construction. The plan for er traffic is concentrated there,” the area allows the placement of shopping centre. Matinkylä is the end of the Matti Kokkinen says, adding commercial services, offices or line, making it an important feeder traffic hub that Ma tinkylä will provide even residential buildings. The which is estimated to accommodate over 30,000 service for half of South Es- metro is expected to attract both passengers daily. Based on passenger estimates, poo. new businesses and residents. The main entrance will lie “For example, a swimming it will be the busiest station of the new line. at the east end of the station, on hall is in the works,” says Olavi the square located on the corner Louko. of Piispansilta and Suomenlah- The neighbouring Iso Om- dentie. The ticket hall is to be ena is already one of the big- located one floor below ground gest shopping centres in the level, accessible also from the land and it will be expanded in shopping centre. The platform the near future, boosting inte- will be approximately 25 metres gration with the metro station. below ground level. Ma tinkylä, however, will not re- The block where the sta- main the end of the line forever: tion will be located is owned eventually the metro will trav- by the City, and is expected to el on, continuing westward. b

Nordicum 39 REAL ESTATE SPECIAL REPORT

Photo: Citycon

Matinkylä metro station: Superhub in the works

As the west metroline will be realised within the next few years, also the metro stations and their surroundings will enter a phase of intense development. The end of the line at Matinkylä promises to be the busiest station and many expectations target the station from day one.

ommercially speaking, the a site reservation for the under- Big Upgrade metro will benefit the area a C anchor for Matinkylä is the ground metro station and the re- great deal: shopping centre Iso Omena, the lated extension of Iso Omena. According to Juhokas, City- “Movement will become fifth largest shopping paradise “Also the traffic terminal is con wants to achieve full zon- so much more convenient, and in the land. Built in 2001, Iso included in the reservation,” says ing readiness by spring 2010 access to services will be tre- Omena is located approximate- Property Development Director and is expecting the actual zon- mendously improved as well.” ly 13 kilometres from Helsinki Marko Juhokas from Citycon. ing process to take a year. The Juhokas promises that to the west, near the junction of “The initial reservation visions are still taking shape, Matinkylä centre will be more Länsiväylä and Ring Road II. makes it possible to explore the but the new construction could than just a place you pass Iso Omena is the larg- possibility of residential and of- add around 25,000 square me- through: est shopping centre property fice construction,” he says, add- tres of commercial premises and “With all that traffic vol- owned by the investment coming that a swimming hall could 10,000 square metres of apart- ume, we are looking to make the pany Citycon Oyj. In Septem- be in the cards for the neigh- ments. metro station a fully integrated ber, Citycon and NCC received bourhood in the future also. Juhokas believes that the part of the shopping centre.” b

40 Nordicum Living It Up Suurpelto promises to put ‘unity’ back in community

A residential revolution is Target: 10,000 homes Summer Time! According to Pekka in the making in Espoo. Vikkula, the troubling econo- One million floor square metres A good example of this ap- my has not impacted the project Located near the crossing will be built in Suurpelto with- proach is Kookaksi, the unique too much: of Ring II and Turku in an area of 325 hectares, of city centre of the new commu- “The sit-around-and-wait which 89 hectares will be ded- nity. The city centre will be cov- road, a completely new period is over and the world is icated to parks where the resi- ered to allow for eternal sum- cityscape is being built with moving again,” Vikkula says. dents and the people who work mer – or at least according to Olavi Louko agrees with this as- innovation as the main in the area can go to relax and be the master plan. Sustainable so- sessment, drawing a comparison driver. Suurpelto is the first refreshed. Nearly 10,000 apart- lutions will be utilised to make to Ruoholahti in Helsinki where ments and several thousand jobs sure that the innovation does not of its kind, an information construction took off like a rock- will be created. prove too taxing for the environ- et after a slower initial phase: community with a green The area will be built as ment. The most modern servic- “I believe we will see sim- edge, ready to update the an undivided and compact enti- es, housing and business activ- ilar development in Suurpelto.” ty where less infrastructure than ities will be brought together in Garden City concept into normal will be needed. Homes, the centre. Stand and Deliver the new millennium. workplaces, culture, and pas- The planner guru Toni time services will all be with- Virkkunen refers to the eventu- One of the perks of the e-com- onstruction of two first in walking distance. al end result as “emotional in- munity is advanced home deliv- C apartment buildings start- Suurpelto is striving to be frastructure” – everything you ery system. What this means in ed in the summer of 2009. a true e-community: under the need within arm’s reach, the per- practise is that apartment build- Asuntosäätiö is building a right Living Lab concept, products fect heart for the community of ings, for example, will feature a of occupancy house and VVO- and services will be developed the future. designated services space at the yhtymä Oyj has started out with and tested in everyday environ- Kookaksi is made for lobby, which is a drop off / pick rental housing, raising a low ments and genuine real-life sit- those people who respect and up point for meals, medicine or energy apartment house in the uations with the residents con- value comprehensive and all-in- groceries. neighbourhood. In accordance tributing to the process. The aim clusive services that are availa- “This is but one example to the environmental mindset, is to, in addition to creating bet- ble close by. Homes, companies, of the focus on services in Suur- future construction will focus ter services and products, to schools, public and private serv- pelto,” Vikkula says, adding that on low energy solutions as well. generate also totally new busi- ices, venues and actors related the new community wants to The first residents will move to ness opportunities. to cultural and pastime activities help introduce an unprecedent- Suurpelto at the end of 2010. Pekka Vikkula, the City’s will all be located in Kookaksi. ed level of service in Finland. “What is remarkable about Suurpelto Project Manager, says The project plans for Another strong element Suurpelto is that the infrastruc- that the entire concept revolves Kookaksi were completed at in Suurpelto is the internation- ture and the environment will around the people: their needs, the beginning of 2009 and dis- al approach. Opinmäki Interna- be all finished when the people hopes and expectations. cussions with various inves- tional School offers education in move in,” Olavi Louko, Techni- “We wanted to put the peo- tors have ensued. In November, Finnish, Swedish and English. It cal Deputy Mayor for the City ple in the centre of all planning it was confirmed that HOK- is hoped that also internation- of Espoo, describes the biggest from the start – that is the best Elanto and Lemminkäinen are al families can find flats, jobs construction project in the Hel- way to make sure that the new among the main partners for the and schools within a short dis- sinki metropolitan area. community is a success.” project. tance here. b

Nordicum 41 REAL ESTATE SPECIAL REPORT

Reinventing Future Office NCC celebrates 20 years of business parks by launching 4G

In 2010, NCC will celebrate the 20th anniversary of its Business Parks concept which revolutionised the industry in 1990 with the advent of Spektri. Launched against the economic turmoil of the early 90’s, Spektri became the measuring stick for quality office premises – and remained so for eleven years. The concept was updated in 2001 and again in 2005. And, finally, this year NCC announced that it is bringing the fourth generation business facilities to the market.

CC is launching the third za 1 was completed in 2002 and for the blueprint anywhere. But cepts mostly on its own in the N stage of the Plaza Busi- Plaza 2 in 2009. Upon comple- we had a feeling that we were beginning – there was no joint ness Park project in Aviapo- tion, the Plaza Business Park building a winning concept,” research or networks to speak lis, Vantaa, comprising five of- will comprise 13 office build- Päärni explains. of, really. fice buildings and a car park. ings, and be one of the largest Innovation work of the “This changed when we The project focuses on new era business parks in Europe. NCC professionals paid off and teamed up with Elisa under a working environments, and is customers came running to en- TEKES project and learned that one of the most significant con- joy the services of a brand new we could apply research results struction projects in the Helsinki Going the Distance era. But why did it take all of the into our concept very effective- Metropolitan Area. As was the Taking stock of the past two dec- nineties to go the distance and ly.” case with Spektri, NCC is once ades, Reijo Päärni, Senior Vice develop the next generation? again issuing a bold response to President (Marketing and Let- Päärni replies that the recession Research Drives a recession in the construction ting), notes that NCC – and the cast a long shadow on the dec- Innovation business. world – have come a long way. ade and new experiments were NCC started the construc- “When we started to plan not that popular at the time. Al- As a consequence, generation of Aviapolis in 2000: Pla- for Spektri, there was no model so, NCC was developing its con- tions two and three were root-

42 Nordicum The third stage of Jorma Ahokas, Managing Di- Plaza Business Park rector of NCC Property Devel- in Vantaa will be the opment. first commercial site in At present, NCC has real- Finland complying with ised 11 Business Parks which the requirements of encompasses 36 buildings. All Energy Class A. and all, this means working places for 15,000 people. Ahokas notes that as the Finns have been working hard on the concept, slowly but sure- ly the rest of the world has been starting to pay attention. Now there are even export prospects for the concept. “The first Business Park under our concept abroad is being built in Stavanger, Norway.”

Paradigms Shifting The 4G office buildings of the Plaza 3 will honour the original NCC Business Parks concept which offers companies of var- Spektri Business Park in Espoo city is the grand old lady of ious sizes the best possible facil- Business Parks in Finland. ities. In the Plaza 3, special attention has been paid to the future challenges of work: rapidly The company is ready to walk ni says, adding that the airport developing technology, globali- the talk: while the EU system re- Ring Rail (scheduled for 2014) sation and well-being at work. quires that the energy consump- is boosting the appeal of the ar- “Globalisation in this con- tion of a Green Building project ea. The distance to the station text means that we have wit- must be at least 25 percent less will be only 400 metres from the nessed a shift in the nature of than previously, NCC is cutting nearest building. work itself: now it mainly the consumption by half. ‘hard drive’ of the personnel that “Energy Class A mandates Next Wave of is being put to the test,” Päärni that energy consumption is re- Shopping Centres explains. duced by 50% from the exist- Therefore, the updated ing norms – and this is precise- In addition to Business Parks, concept provides the workers ly what we are doing now and in NCC has strong experience in with more inspiration, meeting the future,” Ahokas says. In fact, developing shopping centres. places, ecology and modern vir- the third stage of Plaza will be At the end of August, it was an- tual solutions. the first commercial site com- nounced that the City of Espoo While the focus is still plying with the requirements of has given NCC Property Devel- very much on the people, 4G Energy Class A. opment and Citycon the plan- has also another definite target: Ahokas believes that es- ning reservation for the Ma- the environment. NCC Proper- pecially investors are paying a tin kylä metro station (see re- ty Development was the first close eye to the project: lated story on p. xx), the big- company in Finland to receive “In addition to location, gest station of the new western the status of EU’s Green Build- the attention turns more and metro line. The construction of ing Partner and in its activities more towards energy efficien- the metro station and the feed- ed in interdisciplinary research it complies with the interna- cy now,” he says. er terminal is intimately linked that put the person in the lime- tional BREEAM environmen- The excavation work at with the expansion of the shop- light. NCC set out to build of- tal assessment method. Environ- the site will kick off in January ping centre Iso Omena. fices where people would thrive, mental development work will 2010 and after one year of la- Jorma Ahokas says that thus boosting productivity onto be continued during the NCC bour, the first office building of one starting point of the plan- unprecedented levels. Green Working project. the third stage of Plaza will be ning will be to place the met- “Many elements came to- completed by February 2011. ro passengers in the lap of the gether here, from technology Green to the Core The project is looking forward, shopping centre the moment and environmental concerns to onto the next decade and bet- they step off the train. the comfort of the workplace,” Jorma Ahokas notes that the big ter days: even the names of the “We want them to be im- Päärni says. transformation between 3G and buildings – Pilke (glimmer), He- mersed in services right from “The main thing moving 4G is the added emphasis on en- hku (glow), Loiste (lustre), Tu- the start,” Ahokas envisions. from the second generation to ergy-efficiency: green is very ike (twinkle) and Halo – signal Other active shopping cen- third was emphasis on stress- much the colour of the day, and the arrival of a new, brighter era. tre projects include Hämeenlin- free working environment and NCC wants to make sure that “We will most likely put na and Kauklahti shopping cen- workplace management,” adds it runs all the way to the core. up one building per year,” Päär- tres. b

Nordicum 43 REAL ESTATE SPECIAL REPORT

The future of shopping centres: Accessibility meets sustainability

While the recession is pressing on, shopping centres are hard at work formulating strategies and concepts that will help connect with the consumers in the next decade. One trend that shows no waning down is accessibility: according to Finnish Council of Shopping Centers, 96.1% of all shopping centre visits took place in central locations in 2008.

conscious consumer is is Finland’s fifth largest shop- ycon admits that accessibility its partner NCC – are looking A now looking to use pub- ping centre and the centre is of the shopping centre is some- to realise a greener shopping lic transportation to get to his/ owned by Citycon. The com- times in question, as owning centre. Citycon is in the habit her shopping paradise. As a ing expansion will link with the your own car is often the best of putting out environmental- consequence, shopping centre construction of the metro as the way to get there. ly-conscious shopping havens, projects of today are looked at – Matinkylä station will be the “With the launch of the having adopted LEED (Lead- more and more – from the view- end of the line. Matinkylä met- metro, the situation will be up- ership in Energy and Environ- point of logistics and CO2 foot- ro centre will be developed as graded a great deal.” mental Design) ideology as a print. One key project for the joint venture project between guiding principle. coming years is the expansion Citycon and NCC Property De- Environmental Focus In November, Citycon of Iso Omena Shopping Centre velopment. opened the third phase of the in Matinkylä, Espoo. Property Development Di- In addition to more sustainable Rocca Al Mare shopping cen- Iso Omena, built in 2001, rector Marko Juhokas from Cit- traffic solutions, Citycon – and tre located in Tallinn. Citycon

44 Nordicum Photo: Citycon

is seeking LEED certification project in the making can be for Rocca Al Mare as confir- found in Hämeenlinna where mation of its environmental fo- through the project instead of downtown will be expanded cus. Thus far, no building in the very beginning.” rience under its belt already: the from promenades directly in- the Baltic countries has been shopping centre Sello, also locat- to a shopping centre, making it awarded the LEED certifica- Best in the Business ed in Espoo. easy to reach on foot, too. NCC tion. Among Citycon’s shopping “In Sello there was a is hoping that the shopping cen- centres, Trio in Lahti, Finland, While Citycon is an experienced similar setting where traffic tre will evolve into a new kind of is LEED certified and for Lilje- veteran with regards to shopping arrangements posed a big part of meeting place for the citizens of holmstorget Galleria in Stock- centres, its partner NCC is no the challenge. We are confident Hämeenlinna. The city planning holm, Sweden, the certification spring chicken either. In fact, that we can take what we learned for the centre should be com- is pending. the company was just selected from Sello and apply our knowl- pleted during the year 2010. Juhokas was in charge of as the best developer of business edge in Matinkylä,” says Jorma In its own projects, NCC Rocca Al Mare which is also the premises and shopping centres Ahokas, Managing Director of uses BREEAM (BRE Environ- biggest shopping centre in Es- in Scandinavia by Euromoney NCC Property Development. mental Assessment Method) tonia. magazine. “The level of service will which is the classification sys- “The LEED process was a NCC is eager to take on be completely modernised in tem of choice utilised by ICSC challenging one, since we start- the challenge of Iso Omena, Matinkylä,” Ahokas promises. (International Council of Shop- ed utilising the method halfway since it has a comparable expe- Another shopping centre ping Centres). b

Nordicum 45 REAL ESTATE SPECIAL REPORT Off the Ground Vantaa pursues dynamic development on many fronts Photos: City of Vantaa The Helsinki Metropolitan Region is the economic engine for the entire country, and within that area one key player is the Vantaa-based Aviapolis, the proud Airport City. Over the years, Helsinki- Vantaa International Airport has won plenty of international acclaim and also corporations have embraced the opportunities offered by the area.

Over the years, Aviapolis has developed into a world-class Airport City, leading the country in the growth of jobs.

ukka Peltomäki, Deputy advantage of the Vuosaari Har- tial part of the urban line net- ly-conscious communities will J Mayor for the City of Van- bour. Vantaa Axis (Vantaan Ak- work that will improve public come to exist along the rail and taa, comments that Aviapolis seli) is located in the intersec- transport in the entire Metropol- the city structure will solidify.” leads the country in the growth tion of Ring III and Lahti road, itan Region. The line will con- New SM5 low-floor trains of jobs. presenting a real “metropolitan nect residential and job areas. designed for commuter servic- “Aviapolis has experi- gateway” when one enters the “The Ring Rail will revo- es will operate on the Ring Rail enced strong growth in the capital region area. lutionise the community struc- Line. These will run at 10-minute past and we see no reason as to Peltomäki sees that Avia- ture, as jobs can be reached far intervals in both directions dur- why this trend would end,” Pel- polis and Vantaa Axis have been better than previously was the ing peak periods. Rail capacity tomäki says, noting that in to- successful in developing distinct case,” Peltomäki says, predict- can be utilised more efficiently day’s world, great connections profiles: ing that especially the Aviapolis since trains will be able to run are everything – and Aviapolis “There is a lot of indus- area will benefit from the con- in a loop. The journey time from is really a hub par excellence. trial production in the Axis and nection. the centre of Helsinki to the air- “For those companies aim- many companies with ties to the port will be about half an hour. ing to get a piece of the lucra- harbour. Aviapolis, on the other The maximum line speed will tive Asian markets, for instance, hand, has attracted internation- Green Rail be 120 km/h. Helsinki-Vantaa is a good op- al companies with more focus The 18-kilometre line will The Ring Rail Line will be tion, since Finland has the fast- on air connections.” bring rail services to new are- a two-track urban line reserved est routes from Europe to Asia.” In a few years, the logis- as in Vantaa, and feeder traffic exclusively for passenger traf- “And since the new Vuo- tics will improve even more, as will allow people living farther fic. It will have surface stations saari Harbour opened, more and the Ring Rail will be completed. away to take advantage of serv- in Kivistö and Leinelä as well as more business has been coming Actual construction started with ices as well. The Ring Rail Line the Aviapolis and Airport tunnel this way.” the excavation of maintenance will reduce the need for bus and stations. The Ring Rail Line will tunnels in April 2009, and the car traffic along with associated go under the airport in an 8-kil- Strong Axis line will be completed in 2014. environmental impacts and thus ometre tunnel. The Ring Rail Line will promote the EU’s climate poli- Plans allow for addition- Actually, there is also anoth- provide a rail link to Helsinki- cy objectives. al stations under ground in er strong business zone taking Vantaa Airport and be an essen- “More environmental- Ruskeasanta and Viinikkala and

46 Nordicum Marja-Vantaa is a blueprint for ecological living – not only for Vantaa, but for the entire country. on the surface in Vehkala and commodation of approximate- es that the River Vantaa has been believes that Marja-Vantaa is Petas. The busiest stations will ly 30,000 new inhabitants and an underrated element in the big the most interesting communi- be Kivistö and Airport. creation of about 25,000 jobs. picture for a long time, but now ty development project present- ”Our first new communi- The main living area near the there are plans to fully explore ly underway in the Metropoli- ty along the Ring Rail is Leinelä Kivistö railway station compris- the possibilities brought about tan Region. which will feature high-quali- es about 300,000 square metres by the river and its environs. “New technology and so- ty living close to nature,” Pel- which could encompass over “Vantaa River will intro- lutions will be utilised from the tomäki says. 6,000 inhabitants. duce knew recreational oppor- beginning,” Deputy Mayor says, Marja-Vantaa is hailed as tunities for Aviapolis and Mar- mentioning resident identifica- prime example of tomorrow’s ja-Vantaa in the future.” tion systems as but one example. Showcasing ecological construction: the City And naturally, the Ring “Of course, the full-scale the Future of Vantaa is committed to realis- Rail is there to link the new realisation of the communi- Still, the most ambitious coming a vibrant community that is community closely to the sur- ty will take a long time, 15–20 munity development project tak- rooted on greener, cleaner ide- rounding regional structure and years.” ing place in the City is Marja- ology. to the national transportation Vantaa, located near the Helsin- “For instance, bicycling network. The accessibility of ki-Vantaa airport. Marja-Vantaa will be the preferred mode of the area via Hämeenlinna high- Kartanonkoski will create excellent precondi- transport, along with the rail. way and Ring Road III is also Adds Charm tions for complementary build- The community will be planned excellent. Still, Vantaa has great momen- ing in the urban structure as well from the point of view of a bicy- “According to calcula- tum facing these new challeng- as improve the prerequisites for clist,” says Peltomäki. tions, residents’ jobs will be es since the new Kartanonkoski housing production. Marja-Van- about five minutes away.” neighbourhood has proven to be taa will also help to integrate Reinventing the River With regards to energy so- a total success. Excellent city large retail business concentra- lutions, Peltomäki admits that planning and innovative visual tion to the city structure. Also fishing should be in the remote heating is hard to beat solutions have turned Kartanon- On the whole, the lo- cards more and more. Deputy but also other options will be ex- koski into a very special area, a cal master plan facilitates ac- Mayor Peltomäki acknowledg- plored. All and all, Peltomäki decidedly modern community with a strong sense of tradition. “Kartanonkoski has been praised for its architecture and it really has a heartwarming sense of community.” Design and aesthetic values are an elemental part of the new communities in the making, and this trend is only strength- ened by Vantaa’s participation in the World Design Capital 2012 programme. “Marja-Vantaa and the Ring Rail have their own art plans, for instance. We want to The Kartanonkoski residential area has been praised for its architecture which adds to the bring design into the everyday strong sense of community. life of the people.” b

Nordicum 47 REAL ESTATE SPECIAL REPORT Get Connected – Lahti combines smooth logistics with cutting edge innovation industries

The global recession inevitably leads to changes in various areas of international business. Flow of goods is one issue which is already being scrutinised and reorganised – the demand is for more efficient and sustainable logistics. With the launch of the Vuosaari Harbour in Helsinki, Finland has a solid anchor in the field – but versatile in-land logistics centres are also needed.

ne city which has made can say that Lahti is really cen- gised the entire region,” Karp- nections with a highly concep- O considerable strides in de- trally located.” panen explains, adding that es- tualised operative area. The cen- veloping logistics is Lahti. Erk- Actually, the fast connec- pecially retail units have come tre was planned to maximise the ki Karppanen, Managing Direc- tion to St. Petersburg won’t be to town in force. synergies inherent in the part- tor of Lahti Regional Develop- possible until the end of 2010 nership concept and is equipped ment Company LAKES, says as Allegro is launched. Still, the Eye on with a full range of supplemen- that the transportation business Lahti Region has fresh experi- St. Petersburg tary services. Kujala centre is comes quite naturally for Lahti ence of how a quicker connec- located only three kilometers – and the three key reasons are tion changes people’s mindset – Logistically speaking, the key southeast of downtown Lahti. “location, location, location.” and the face of business. hubs in the region are Kuja- “Henna, on the other hand, “With Helsinki – and both “When the new rail con- la, Nostava and Henna, located is an area which includes also the international airport and nection between Helsinki and in Lahti, Hollola and Orimat- residential activity,” Karppanen Vuosaari – only one hour away Lahti was launched a few years tila, respectively. Kujala logis- says, pointing out that Hen- and St. Petersburg two-and-a- ago, it cut down on the trav- tics centre, for instance, com- na subscribes to “pearls on a half hours away by train, one el time considerably and ener- bines great rail and road con- string” ideology which calls for

48 Nordicum sustainable communities to be ing business relationships pret- notes that Lahti is a solid op- growing at an annual rate of formed along rail connections. ty easy. Karppanen attributes tion for companies both big and 17%. The special environmen- Thanks to the superb loca- this to the entrepreneurial mind- small – and coming from vari- tal expertise found in the region tion, the logistics hubs are with- set of the citizens – Lahti has ous fields. There are a few in- encompasses public water sys- in easy reach of St. Petersburg. launched many successful fam- dustries, however, which are es- tem maintenance, international Of course, it’s not only the ily businesses, for instance, to pecially keen on Lahti. projects, soil treatment, waste great connections which are fir- the world. The phrase “Busi- Perhaps the most excit- management, and recycling. ing up the engines in Lahti. The ness City” summed up what ing sector right now is clean- There are also first-class tech- city has been a key centre for the community was all about in tech which is currently making nology-intensive recycling and growth in Finland for a long the 1980’s, and business is still its international break-through. waste management companies. time and the improved connec- very much in the DNA of the Lahti Region is home to Fin- Lahti boasts an impressive tions only add to the appeal. people here. land’s second most important scientific roster in the field as “Lahti is known for versa- centre for the environmental in- well: Department of Ecologi- tile services and pioneering ef- dustry as approximately 10% of cal and Environmental Scienc- forts in both culture and sports.” Bayside Appeal Finland’s environmental trade is es (Helsinki University Faculty For companies, there is The experts at LAKES are quite located here. of Biosciences), Lahti Universi- something about Lahti that aware of the interest generat- In recent years, the clean- ty of Applied Sciences, Helsinki makes networking and build- ed by their region. Karppanen tech cluster in Lahti has been University of Technology Lah-

LAHTI-INFO:

– 100 840 inhabitants

– 1 hour away from Helsinki

– less than 3 hours away from St. Petersburg (by end of 2010)

– less than 1 hour away from the international airport

– fast highway and train connections

Nordicum 49 REAL ESTATE SPECIAL REPORT

The City of Lahti “This is how significant Lahti is the esteemed Institute clusters come to exist.” of Design, today a part of Lahti University of Applied Sciences.

In architectural consideration, the Winning Design Lahti Sibelius Hall by the lake- Another factor contributing to side is a must-see for any visitor. the success story of Lahti is de- The newest player in the sign. The City has composed field is Finnish Design Foun- Lahti Design Manual in order dation, established in Novem- to pool together resources and ber. The Lahti-based founda- create fresh cityscape. As Hel- tion supports design-related re- sinki won the honours for De- search, education and develop- sign Capital of the World 2012, ment in Finland. Lahti is in fact one of the partic- The Lahti Design Manual ipants of the application – and calls for services which feature the only city coming from out- also a strong design element. side the capital region. Managing Director Karppanen Since the 1950s, Lahti has perceives that, from the busi- been the centre of the Finnish fur- ness side, the role of design can ti Centre and Lahti Science and He acknowledges that as soon niture industry; still today, ap- be very relevant for companies. Business Park are among the as a certain “critical mass” is proximately half of the employ- “Design is a key comple- key players. Lahti also spear- achieved within any given in- ees in the sector work in the re- mentary component for many heads the national cleantech dustry regionally, this will cre- gion. Academically speaking, the corporate – also industrial – cluster programme. ate a “snowball effect” of sorts. anchor for design excellence in players in the Lahti Region.” b

Karppanen acknowledg- Map: STT es that the so-called green industries are brimming with potential. “We want to keep developing and be one of the top players on a European level by 2015,” he lays down the strategy.

Building Partnerships Linked more and more to cleantech, there is also the mechatronics cluster which is built around the local technology industry. Mechatronics is the biggest industrial cluster in the Lahti area – when measured in terms of number of companies, over- all turnover, and number of employees – making up 30% of all industry. The mechatronics industry plays an important role in most of the central areas of production. The Lahti Region has special expertise both in product applications and in produc- The Lahti Region tion technology. – Finland’s fifth largest “Increasingly, cleantech is urban region being ‘built-in’ into mechatron- – 200,000 inhabitants ics. Similarly, the use of smart – ideal logistical location solutions in the sector is grow- in the centre of Southern ing,” Karppanen points out. Finland Karppanen uses these two – bridges culture and sports industries as examples of sec- in a natural setting tors where there are diverse sub- – 10,000 companies in the contracting networks already in region place – and newcomers find it – logistics, cleantech and rather convenient to jump right mechatronics among key in. industries “There are many potential Sibelius Hall by the Lahti Harbour is world-famous for its ex- – strong international collaboration partners out there cellent acoustics and innovative use of wood – for instance, expertise, especially and LAKES can help compa- The Sydney Morning Herald has chosen Sibelius Hall on its Russian nies find just the right ones.” Top 10 list of the world’s best concert halls.

50 Nordicum Riverside Celebration Turku is getting ready for Capital of Culture 2011

The City of Turku is looking to be immersed in culture in a year’s time. In 2011, Turku will be the European Capital of Culture 2011, sharing the honours with Tallinn.

arketing Manager Laura ment about what type of a cor- Great experiences, Enjoyable planned or already being imple- M Aalto from Turku 2011 porate citizen it wants to be and city, Everyday touch and Last- mented around town. Foundation describes the year as how that company wants to par- ing imprint. Jouko Turto, Director of a unique event on a grand scale: ticipate in the development of Professor Alf Rehn has Real Estate Department for the “The Capital of Culture the community,” Aalto says. used the term ”creative infra- City of Turku, says that the im- designation, the contents of the structure” to describe those pact of Capital of Culture desig- programme and the audienc- Culture Club methods that a city can uti- nation runs all the way down to es provide various companies lise to support human creativ- the infrastructure. For instance, with creative marketing solu- For local companies, there is ity and find links to business. the Library Quarter is about to tions and promotions,” she says. even a Turku 2011 culture club. One of the research projects of be re-energised in a new way. By In accordance to the Turku 2011 The idea is to make the local Turku 2011 is Creatin’ which adding a bridge – the so-called collaboration strategy, there is a business scene as committed to will look into the entire Culture Penny Bridge – in the neigh- wide-spread search for corpo- the project as possible. Capital process and explore the bourhood, the access to Vanha rate partners. The main sponsors All and all, the Turku 2011 workings of the creative indus- Suurtori (Old Grand Square) is Finnair and Tallink Silja and programme will feature as many tries. improved. other participating companies as 150 separate projects which “Finally, the Vanha Su- are involved in the making of encompass thousands of indi- Retooling urtori quarter really opens up the year and get value for their vidual events. The full repertoire Infrastructure to the people, as it becomes a investment through e.g. visibil- will be unveiled in June 2010, natural part of people’s move- ity and boosted sales. six months before the Culture Coinciding with the festivi- ment around the city,” Turto en- ”Participation in the Capi- Capital year is launched. ties, the city is going through visions. He would like to see tal of Culture year is also a way The 150 projects can be a “fitness programme”: there boutiques, cafes, galleries and for the company to make a state- loosely divided into four areas: are many projects either being restaurants flourish in the area,

Nordicum 51 REAL ESTATE SPECIAL REPORT

ings form a powerful heart for ‘vibe’ is created – for citizens the city that must be preserved and tourists alike.” at all costs. Jouko Turto says that Furthermore, she observes the city plan for the square will that the nomination of Helsin- go under some retooling to ac- ki as the World Design Capi- commodate better parking facil- tal 2012 supports the Capital ities, among other things. designation of Turku and vice versa. Wood Renaissance “Both cities receive added value for their respective capi- Yet another interesting area is tal status. In addition, the inter- Linnanfältti which will show- national exposure of Finland is case ambitious Finnish wood boosted.” construction in the years to Niemi is quite pleased come. In fact, the Linnanfältti with the sponsors of the special area is one of the national pi- year, remarking that the cor- lots in the wood construction porate partners are established promotion programme. The City companies in their fields and in wants to create a high-quality the community. residential area in the vicini- “Even more companies ty of the Turku Castle: a neigh- will probably come along as bourhood that is a good match the programme becomes bet- for the historical downtown as ter known.” well. A couple of years ago the City declared a planning com- Transforming petition for the development of Downtown Linnanfältti. The winners were Director Niemi notes that the announced in November 2008 citizens of Turku have been and the proposals have been pleased with the recent urban worked on during this year. upgrades. The city centre – es- “NCC, Peab and YIT will pecially the entertainment cen- be involved with the devel- tral – keeps expanding which opment of the area. The zon- is a process that was visible al- ing proposal is presently being ready in connection to the first drawn up,” Turto says. Tall Ships’ Races when the riv- In 2009, Turku also re- erside was revamped. ceived an architectural policy “These types of upgrades which will direct future plan- get the people to venture out to a ning and construction. A key broader area more and more and theme in the policy is combin- when there is action and a pleasing old and new architecture in ant environment – cafes, restau- a meaningful way. Turku wants rants and boutiques for instance to be in the forefront of comple- – the tourists will come as well.” mentary construction, preserv- Renovating the Wiklund ing valuable environments but quarter is very important if one generating some “medieval ac- to see what we could achieve in striving to make modern, cou- wants to keep increasing the ap- tion” there. the quarter,” Turto says. The area rageous solutions as well. Is- peal of the city centre, Niemi be- “There will be a planning already features Culture Corner sues such as identity, cityscape lieves. competition for the bridge and which will serve as a kind of “pit and heritage are very high on the “At the same time, there is we will announce the winner in stop” for those interested about City’s agenda. still plenty of purchasing power the beginning of 2011 to kick off the Culture Capital happenings. “The architectural policy left over for the Market Square the Culture Capital Year,” Tur- Turto also notes that the features a great range of issues which is an important pillar for to explains, adding that actual special year will feature a rath- and we will proceed with the the vitality of the downtown.” construction will take place dur- er unique event: in the down- policy one step at a time,” Tur- ing 2012. town area, there will be a large- to notes, adding that the policy Logistical scale archaeological site which is very much a long-term vision. Excellence Dig in! will uncover artefacts from 16th and 17th century. Good Vibrations One of the focus areas of Turku A new sense of excitement is in “In fact, the site will be the is logistics, as the city prides it- the air also in the Fortuna Quar- biggest in all of Europe.” Director of Tourism Anne-Mar- self as a meeting point of East ter where the master plan calls The archaeological work is get Niemi from Turku Touring and West. The most ambitious for creative industries, artisans scheduled to run for three years, perceives the most important project in this regard is the de- and craftsmen to take root in giving both residents and tour- thing for the success of the Cul- velopment of LogiCity. The first the area. The centre piece of the ists a real sensation of the rich ture Capital project to be the en- logistics premises (for Suomen plan is the old City Hall. history in the city. thusiastic atmosphere. Kaukokiito Oy) in the area will “We are presently look- Of course, the venerable “It is only through genu- be completed by March 2010 ing into various opportunities Market Square and its surround- ine, rich experiences that a great and various other logistics play-

52 Nordicum ers are also settling in at Logi- of assembly industries who are role of RFID will be fine-tuned investments in Turku so we have City, reports Ari Niemelä, Man- seeking additional value from a in the beginning of 2010. a good platform for future de- aging Director of Pilot Turku. multimodal environment. velopment.” LogiCity is rooted on mul- Niemelä adds that the core According to Niemelä, one timodality – Turku is a signifi- operations of the logistics hub Air Supremacy of the most significant chang- cant European traffic hub, with also receive plenty of support Talking about the air cargo, the es that will impact the develop- great connections via land (both from all sides. There are, for focus is very much on the long- ment and practical implementa- road and rail), air and sea. With instance, new operative models distance connections between tion of LogiCity is that the proc- all the relevant logistics tools in in the labour sector, targeted at Europe and Asia, as well as be- ess will soon be spearheaded by its disposal, LogiCity is on its making sure that the new logis- tween the Old Continent and the companies themselves. way to great things: tical entity has all the hands and North America. According to “In this way, it is possible ”A competitive operative brains it needs. Niemelä, the idea is to link air to add more expertise and net- environment will be created at ”Making allowances for cargo handling and distribution work power into – especially – LogiCity, from the point of view RFID technology already in with the management of traffic construction and real estate de- of the logistics services offering the infrastructure construction flow going through the ports velopment,” Niemelä says. The and also those companies who phase – and the actual remote of Turku and Naantali (most- coming transition has been in deploy logistics in a key role in identification service produc- ly bound for Scandinavia and the works for a while now and their activities,” Niemelä says, tion – is bringing additional Russia). the implementation should adding that there will be room in value into the area, and boost- “With regards to air cargo, take place in the first half of the area also for various players ing national profile, even.” The both TNT and DHL have made 2010. b

Nordicum 53 REAL ESTATE SPECIAL REPORT Take A Number CLX Business Zone combines logistics, hi-tech and retail expertise

Tampere Region has been one of the most dynamic areas in Finland for years. Already the biggest in-land city in Scandinavia, Tampere is now seeking growth from logistics excellence. For a while now, a new business zone has been developing near the Tampere-Pirkkala Airport, southwest of the Tampere city centre. The new entity is called Pirkkala CLX and it is extremely well connected: the hub is served by the airport and a modern road network which has recently been upgraded. And the railway is there as well: the main North-South and East-West lines interact here.

rkki Korkala, Business Di- Korkala remarks that in the concept is based on a long- E rector for the Pirkkala mu- the days and months leading term strategy. nicipality, says that location has up to the agreement there were “The Pirkkala municipal- been the strongest asset of CLX plenty of ideas being thrown ity has been very committed to from the beginning. back and forth: carrying out the strategy and “In addition, the entire re- “We had the original vi- the results have been tremen- gion is growing and developing sion that we should attempt to dous.” with remarkable rate,” Korkala go for something big here.” For observes. a project of this magnitude, it B2B + B2C = CLX The main concept of CLX made sense to take in two vet- In addition to logistics, the ar- is apparent already in the name eran developers instead of just ea features strong participation of the business zone, but only if one. Four years down the road, from trade and hi-tech sectors. one has at least passing familiar- all the partners are still very There are both business-to-con- ity with Roman numerals. CLX, much committed to the project. sumer and business-to-business of course, translates to 160. And “At present, SRV is in- companies in CLX, comments why 160, you may ask? Well, volved in a project by the air- Erkki Korkala. Tampere-Pirkkala lies at the port and NCC has a 20-hectare “The area is up and run- dead centre of a circle that en- reservation for a car retail cen- ning and the speed of develop- compasses within its 160 kilo- tre in the zone.” ment is pretty good,” he says, metre radius eight of Finland’s adding that most new jobs in ten largest cities – covering over Airport Appeal the municipality emerge here. 60% of the entire population of The objective of the joint For instance, the immediate vi- the country in the process. scheme is to get new compa- cinity of the airport is vibrant In addition to big popula- nies to locate their operations enough: especially technology tion numbers, the CLX sphere of in the zone as well as the cre- companies – such as Raflatac, influence delivers also prosper- ation of thousands of new jobs Labkotec and TTS Liftec – have ity – this is the most developed, there. The scheme relies on the found homes here. the most industrial area in Fin- growing popularity of the air- Tatu Miikkulainen, Man- land, with the best prospects for port environment as a compa- aging Director of TTS Liftec, investors also. ny location; this is a trend that says that the stellar image of the Think Big can be observed all over the business zone was a key factor the business zone will continue world. behind the decision to move to to evolve: The genesis of CLX goes back “The business areas which the neighbourhood in June. “There is already coopera- four years, as the co-operative hold the most appeal and poten- “The connections are very tion between the companies here, agreement on CLX was signed in tial from the point of view of good and there are a lot tech-in- but the synergies will grow even September 2005. The area com- dynamic, modern companies are tensive companies here, so we more as new players settle in.” prises hundreds of hectares pri- very often located right next to feel that this is the right place marily owned by the municipal- thriving airports,” comments for us.” ity of Pirkkala and Finavia on a Executive Partner Markku Teit- TTS Liftec designs and de- Retail Renaissance stretch of land lying on the ax- tinen from Tampere Business livers e.g. systems for loading With regards to trade, there is a is between the airport and Tam- Region which is an organisa- and unloading ships in ports. Of retail centre in Partola that al- pere. In addition to the munic- tion helping investors to set up the new premises, two thirds are ready has solidified its position ipality of Pirkkala and Finavia, business operations in the area. used for assembly and storage, with its diverse offering. The re- NCC Property Development and Teittinen also observes while one third is reserved for tail formula in CLX is, more of- SRV have also been contributing that very little about the launch office use. ten than not, to concentrate on to the joint scheme from day one. of CLX has been left to chance: Miikkulainen believes that a specific niche of a certain re-

54 Nordicum tail sector and to become the dreds of companies in CLX, out, quite a number of projects ty of Pirkkala, currently a home number one. Once the pole po- with about 5,300 jobs, along are given a green light imme- for 16,500 people. For years, sition is secure, the centres can a zone of nine kilometres. The diately.” Pirkkala has led Finland in the expand their reach. municipality has jumped at the percentual growth of new jobs. “We have a centre for chance to generate more busi- When asked about the secret of heavy-duty machines featur- ness opportunities here: zon- No Baggage success, Erkki Korkala replies ing about a dozen big players,” ing operations are as fluid as According to Markku Teittinen, that the current situation is a Erkki Korkala says, mention- they come and the municipal the area has been able to blos- sum of many factors. ing Ponsse, Valtra and Volvo as decision-makers really under- som since it comes with almost “The municipality has examples of the companies here. stand the needs of the compa- no existing baggage. offered solid services and the “Then there is a car centre nies. “This is mostly greenfield quality of life has been deemed in the making and a hardware Over time, the municipali- construction, with everybody on to be on a high level here, large- store cluster.” ty has consistently increased its the same page.” ly thanks to nature,” he says. As Erkki Korkala analyses land holdings by acquiring over The scheme also relies a consequence, especially the that specialisation has worked 300 hectares of new area. on the popularity and excel- young and educated are flock- well in the area: there are hun- “Once zoning is carried lent location of the municipali- ing to the municipality. b

Nordicum 55 REAL ESTATE SPECIAL REPORT Winglet Business Park opens in CLX

One of the developers of CLX Business Zone is construction company Rakennustoimisto Pohjola Oy. The company saw the potential offered by the area and bought 30 hectares of land just off the airport in 2008, with the aim to turn the area into a blossoming business park.

n the summer, the first phase I of Winglet Business Park was opened. Located just one kilo- W I N G L E T B U S I N E S S P A R K 0 3 . 0 2 . 2 0 0 9 metre away from the airport, the Business Park features modern premises which can be tailored according to very demanding specifications, for e.g. labora- Investment tory use. Opportunities Saxlin, adding that when certain ness zone and are paying atten- “The most important thing types of companies get togeth- tion,” Saxlin says. for us was to realise a business The Winglet Business Park er, this serves to attract more of The recession caused for park that meets the image crite- is expected to grow into a re- their kin. the development plans to be ria of demanding, international power player in the Tampere The Phase I of Winglet placed on hold momentarily, but al companies,” says Antti Sax- Region, with as many as 2,000 was sold to Kiinteistö-Varma Saxlin is happy to report that the lin from the company. employees and 100,000 square in the summer of 2008, provid- start of 2010 looks quite posi- “In the first phase, there metres of premises. ing some proof of the attractive- tive. are 7,500 square metres of “Especially internation- ness of the area – also in the eyes “We also offer companies space. Over time, there could ally-minded hi-tech companies of the investors. project development free of be as many as four phases in get additional value from the lo- “The investors have no- charge, so those interested in the the Business Park,” Saxlin adds. cation by the airport,” comments ticed the potential of the busi- area should get in contact.” b

Vaasa Airport Logistics Center moving forward

ll four modes, air, road, to Vaasa airport and will be sup- only 10 kilometres away. The VASEK. Nordic Logistic Cent- A rail and sea transport will ported by a land traffic logistics construction of this new air car- er (NLC) in Umeå, Sweden of- be effectively combined in Vaa- center with own rail traffic load- go logistics center is initiated in fers an ideal supportive partner- sa. Vaasa Airport Logistics cent- ing area and an improved road 2010, says Development Man- ship for growing east-west trans- er (VALC) is located right next connection to the port, which is ager Riit ta Björkenheim from port. b

56 Nordicum Pulse of the Industry Still Strong Real Estate players rallied around the flag in Aulanko

The Finnish real estate professionals met in Aulanko, Hämeenlinna, with mixed feelings in November. The headlines of the past year have emphasised the negative with construction declining and property transactions being put on ice. The aim of the Kiinko’s Annual Convention of Property Investment Prospects was to rally the troops, so to speak: to focus on the positive messages, the success stories, solutions and innovations.

o help with this goal, the Michael Schönach, Managing crisis than some other parts of and you might have a winner in T organisers had enlisted the Director of Catella Property. the country. your hands, Schönach believes. help of couple of gurus: philos- Schönach offered an insightful “Growth cities which are According to Schönach, the opher Esa Saarinen and Swed- overview of the Finnish real es- vibrant communities are less liq- big trends in the sector are to raise ish professor, author Kjell Nord- tate market fundamentals and uid and thus less volatile.” Hel- environmental buildings and fill ström. The pair did their best to trends. He called the current sit- sinki on the other hand is part them with ethical tenants. fire up the participants with uation “schizophrenic” with the of the international playground And there are still opportu- their often unorthodox think- (dropping) rents as the driving and more open to global effects. nities in the field: Schönach used out-of-the-box ideas. factor in business premises in- Citycon as an example of a com- A more conventional look vestments, while it used to be pany which was able to maintain was delivered by Sakari Tam- yields just a little while ago. Game Still On stable financing status in spite minen, Chairman of the Board “Even 30% reductions in While exercising cautious tones, of the exceptionally challenging for the Confederation of Finn- rents are being negotiated now,” Schönach was still upbeat about market conditions. The rapid fall ish Industries EK as well as the he said, while adding that this the future. of the interest rates and the suc- CEO of Rautaruukki. While does not apply to prime real es- “There are still good real cessful repurchase of Citycon’s Tamminen assessed that the re- tate. estate deals to be made today,” own convertible capital bonds cession is far from over, he ex- Still, the situation is not he commented, adding that there reduced the company’s interest pressed a view that construc- as gloomy as it was with the re- is nevertheless a check list to go expenditure. tion business might recover fast- cession of the early 90’s, where through before committing. Of “In effect, Citycon bought er than many other industries – speculative development led to course, properties should have back its convertible bonds at 50% globally, at least. the eventual downfall of many a long term leases with prime ten- of the price.” real estate player. Now, there are ants – right now the public sec- This goes to demonstrate Schizophrenic still business parks in the pipe- tor is quite desirable in this re- that good bargains can be struck Situation line but not too many projects gard. in all types of circumstances. are kicked off. A great location does not Still, Schönach echoed the words Some of the most precise in- Perhaps surprisingly turn bad overnight, even with ill of the old sergeant from Hill ternational observations in the Schönach analysed that Helsin- winds blowing. Add good traf- Street Blues when he advised: convention were delivered by ki may be more vulnerable to the fic conditions and versatility “Be careful out there!” b

Nordicum 57 “One floor encompasses Eero Ojala would like to like Eero Ojala would Jukka Pitkänen, Managing Di- rector of Skanska Commercial (CDF), Finland Development points out that Skanska has no objection to letting all three buildings to a single tenant, speaking, but more realistically each floor can also be split in three parts, if needed. about 1,000 square metres.” As Green As It Gets beautiful routes, for example beautiful routes, for example through Helsinki Central Park. There will be a separate bicycle as good so- parking area, as well cial facilities showers. including see companies with a progres- mindset findsive their nests the entire con- here: “Certainly to fore- cept is very attractive of their runners and innovators Ojala com- specific industries,” ments. The inspiring facilities are being built to serve compa- the open space value nies who premises. of new and flexibility Project Manager Hannele “Officetraffic is ‘central- Car parking facilities will plex,” confirms Leasing Manag- plex,” er Eero Ojala, adding that the to be a true in- wants company dustry forerunner in the area. Smart & Sustainable office facil- and impressive New ities will be built using the latest energy-efficient technology. been have solutions Sustainable into account already in the taken design phase and throughout the constructionwhole process so end-users can that the eventual basis. them on every-day enjoy that one of the explains Vainio special features is “corner office ideology belongs to everyone” open office thanks to where, so- get to lutions, more employees the view. enjoy in the middle of the build- ised’ says. Vainio ings,” be built under the office build- The office can be block ings. via many reached with bicycle The main idea behind the “We are looking to realise “We kanska will raise four build- are to provide ings which top-notch business premises siz- for companies of various es. One of the buildings – the first one – will become headquarters it- Finland for Skanska will feature The complex self. 33,000 square metres of space for 1,600 people. a state-of-the-art business com- ka will go through the process instead of of trouble-shooting the clients – the tenants of the hi- other three buildings receive bug-free. tech that is virtually S construction is simple enough: to spare no effort Skanska wants the best possi- in order to make officeble building, jam-packed from top to bot- with innovation headquar- own tom. Skanska’s ters will function as a pioneer of solu- sorts, a test bed for new tions, and once those solutions are deemed to be efficient, they can be utilised in the following Skans- This way, three buildings. Green Light for Construction Light Green a “Gateway is building Skanska to Helsinki” 58 Nordicum Something new and at exciting is in the works the start of the legendary Mannerheimintie street is Skanska in Helsinki. an ultra-modern raising office complex in the area being is already which “Gateway hailed as the In fact, to Helsinki”. the complex is the first one will set of buildings approaching encounter, from area the downtown the north via Hämeenlinna The location in the road. junction corner of a busy of Mannerheimintie and Hakamäentie is optimal to downtown, travelling for station train to the Pasila or to the Helsinki-Vantaa international airport. REAL ESTATE SPECIAL REPORT REPORT SPECIAL ESTATE REAL Photos: Larkas & Laine Architects Ltd According to Pitkänen, tor is the selection and utilisa- status is already in the bag, but “horse power” – of sorts. Here’s green thinking is really in the tion of proper materials. Third the building has a decent shot at the explanation: Carl Gustaf core of the ambitious project. He LEED element is the use of en- platinum also. Mannerheim – after whom Man- says that environmental princi- ergy, with water usage coming “We’ll find out after nerheimintie is named – was a ples have guided the undertak- in at number four. Fifth and fi- Christmas,” he says. legendary soldier and president. ing from day one. nal factor is the indoor environ- Still, Pitkänen points out In recognition of the great man “Skanska, in general, ment and its quality. that LEED is still just a tool for and his achievements, the four wants to be the leading compa- “Out of these five, energy the company – the idea is not to buildings of the complex have ny in green construction. Here and emissions is really the cru- go around parading fancy certif- been named after Mannerheim’s in Finland we share the same cial element. The use of materi- icates, but to build better, more horses: Kathy, Neptun, Talisman commitment and this is another als is also becoming more and sustainable buildings for the fu- and Lilly. opportunity to show everybody more important,” Pitkänen ex- ture. The first building to go up what we can do.” plains. “It is important for us to is Kathy, and the 320 employ- Skanska is the Finnish pio- develop the construction culture ees of the present Skanska head- neer under LEED (Leadership in Going for Gold – in Finland. It is a big challenge quarters in Paciuksenkatu street Energy and Environmental De- and Beyond and we want to cooperate with will move there in a couple of sign) certificate. Developed in Skanska “earned its wings,” so other industry players in this.” years, as the building is com- 2000 by the US Green Build- to speak, by building the Lin- LEED is the talk of the in- pleted. ing Council, the LEED Green tulahti Office Building, locat- dustry right now, but Pitkänen “The Skanska building Building Rating System has ed between the Hämeentie and and his troops are already en- will be finished by the end of spread around the world. Sörnäisten Rantatie streets in visioning a period “beyond 2011,” says Jukka Pitkänen. In principle, the LEED Helsinki. Lintulahti was the LEED” where environmen- After Kathy, Neptun will system is similar to the EU first building in Finland to re- tal efficiency is wired into the be completed. And here’s the Green Building system, but ceive LEED gold level pre-cer- DNA of the building already in catch: it covers more specific areas. tificate during the construction its planning stages. “Of these four, Nep- Starting with planning stages phase. tun has the most visible loca- of the project, LEED requires “Lintulahti was complet- Horse Power tion and we believe it will be for the plot and its surroundings ed last summer, and now we’re a highly attractive option for to subscribe to the principles of waiting for the final LEED rat- And speaking of driving forc- smart companies,” Pitkänen sustainability. The second facing,” he says, adding that gold es, the complex will also feature concludes. b

Nordicum 59 REAL ESTATE SPECIAL REPORT

Real estate investments expected to pick up Photo: SARC Architects Ltd

As the stormy 2009 draws that are stable but nevertheless market. The transaction volume premise on a 6.2% net yield. to a close, there are some higher than bond yields.” is predicted to go up in all prop- Nevertheless, the values of the Larma also notes that erty types during the next 12 properties are still under pres- signs of better weather share prices have risen signif- months. The prime yields have sure since cash flow from the ahead – at least in the real icantly during the last eight moved up during the last two rents is not what it used to be estate investment market months while the real estate years, but now the respondents during the fat years. where cautious optimism is prices have not followed suit. expect that yields have reached In addition, there is still However, in the big European the peak and will be stable for not that much trade to speak of. slowly finding root. countries, such as the UK and the next year or so – especial- At the end of October, the real France, the prices have already ly with regards to prime areas/ estate transaction volume was started to climb in the real es- assets. on the level of € 1.2 billion tate market. Janne Larma agrees with for 2009 – only one third of the anne Larma from Advium “As a consequence, the this assessment: it is likely that comparative figure the year be- J sees that there are quite many eyes of the European investors the elevation of yield demands fore. The transaction volume is positive signals out there. will fix, more and more, on mar- has peaked and in a year or two quite well spread across differ- “First of all, yield-spread kets with higher yields and less the yields may be on a level that ent types of properties, offices, is on a historically high level competition – such as the Nor- is lower than presently is the retail and residential. The main and banks are interested in fi- dic countries.” case. Yield levels are dropping reason for the small volume has nancing real estate transactions as the banks are giving out more been that sellers and buyers have again,” Larma says, adding that Stability loans and the margins shrink. been quite apart from each other the banks’ focus is still mostly Returning “I believe that during 2010 regarding the price tag. on prime real estate and long- the margins will come down to Since Finland is still a term contracts. Furthermore, the rise in yield the level of 1.25–1.50 %.” very stable economy, there will “In addition, there is a lot demands seems to have stabi- be both international and do- of money in funds that need to lised, especially in the prime ar- Pressure Still On mestic attention on the markets be invested somewhere. Interest eas and prime assets. According here, Larma analyses. rates are down and those players to recent RAKLI-KTI barome- According to RAKLI-KTI Ba- “The volume will double using their own capital to make ter survey, the investor demand rometer, the investors would going from 2009 to 2010. The investments – such as pension is expected to increase in the now be willing to commit to rents will still go down in 2010,” funds – are looking for yields Finnish commercial real estate a downtown Helsinki office he predicts. b

60 Nordicum Union Investment Real Estate: 2007. The exposure in the Asia Pacific region – in Japan, Singa- pore, Malaysia and South Korea – comprises 18 properties worth Sustainability all the way some € 870 millions. “We are active in 25 countries and have expanded our ac- Sustainability is highly-ranked on Union Investment’s agenda when it comes to tivities into several new markets initiating new projects and buying new commercial buildings. In an interview, Dr. this year,” Dr. Hermanns-Engel Karl-Joseph Hermanns-Engel, member of the management board of Hamburg-based explains. The company’s core orien- Union Investment Real Estate GmbH, outlined the international investment strategy tated property funds take sev- and investment plans for the Nordic countries. eral sustainability aspects in- to account: location, construction quality, cash flow, positive long-term tenants etc. The distribution of total portfolio by type he portfolio of Union In- of use is 60% office buildings, T vestment’s open-ended real 25% retail, 12% hotels and the estate funds covers some 230 rest logistics centres and resi- properties and projects worth € dential. Currently the portfolio 14.5 billion. Union Investment, comprises 19 hotels worth € 1.6 active in Europe, Asia and the billion and 19 shopping centres Americas, is the second largest in Germany, Austria, Belgium, German manager of open-end- Poland, Italy, Spain and Turkey ed real estate funds with total as- worth € 3.6 billion. sets under management of more than € 18 billion. Power of Partnerships One of the topics of the in- Union Investment’s strategy is terview was the various projects to cooperate with other market which Union Investment has re- players and invest in properties alised in Scandinavia since en- initiated by third parties. In the tering the region in 2005. Un- case of shopping centres, for in- ion Investment has invested in stance, they cooperate with ECE a 14,000 square metre shopping with regard to two properties in centre in Gothenburg as well as Essen and Ludwigshafen. a 22,000 sqm office block in The theme of Union In- Stockholm, its first project in a vestment’s “2010 Prime Proper- Scandinavian country. ty Award” is “Creating sustaina- Union Investment also ble investments and places”. The owns the Duetto business park award focuses on European re- (14,000 sqm) and the Logis- al estate projects which combine tics Centre Tikkurilantie (6,600 commercial success with ecolog- sqm) in Helsinki. The company ical and social cultural sustain- has ambitious plans for the fu- ability in an exemplary fash- ture in the Baltic region; one of ion. Amongst the prize-winners them being a new business park of the 2008 competition is the in Oslo. Additional projects in Alsion complex in Sonderborg, Sweden are also planned. Denmark. The Prime Property Award Active in 25 Countries 2010, with prize money of 30,000 Large investments have already Euros, will be presented in a cer- been made in the USA, Cana- emony at the EXPO REAL Mu- da and in Mexico where Union nich in October 2010. Applicants Investment acquired a minor- with projects of either new build- ity stake in the “Torre May- ings, refurbishments or redevel- or”, South America’s tallest of- opments realised between 2004– fice building. In New York, the 2009 and with a rental area of “140 Broadway” complex beat least 5,000 sqm can transmit longs to Union Investment as their application until December does the LEED-certified ”111 15th 2009. South Wacker Drive“ in Chi- The competition docu- cago. ments can be downloaded at Another major market is www.prime-property-award. Chile, where five projects have com b been purchased for the funds since entering the market in Lutz Ehrhardt

Nordicum 61 COMPANY BUSINESS CARDS

AALTO - UNIVERSITY PROPERTIES LTD ADVIUM CORPORATE FINANCE Mannerheiminaukio 1 A Lämpömiehenkuja 2 A FI-00100 Helsinki, Finland FI-02150 Espoo Phone +358 9 6817 8871 Finland Fax +358 9 6817 8950 Phone +358 40 766 6875 www.advium.fi www.aaltonet.fi Contact Persons Contact Person Mr Janne Larma Kari Kontturi Managing Director Managing Director [email protected] [email protected] Mr Antti Louko [email protected] Specialty Areas Mr Juho Puhakainen [email protected] Real Estate Investment, speciality university premises Mr Samuel Granvik Letting premises [email protected]

Specialty Areas See pages 1 and 60 Advium Corporate Finance Ltd is a leading Finnish corporate finance advisor in the major real estate transaction and one of the leading M&A advisors in Finland. Since its foundation in 2000, Advium has advised in

See page 35 more than 90 transactions with a deal value in excess of 8 billion euro.

CITYCON OYJ CITY OF ESPOO

Pohjoisesplanadi 35 AB P.O. Box 42 FI-00100 Helsinki FI-02070 City of Espoo, Finland Finland Phone +358 9 81621 Phone +358 9 680 3670 www.espoo.fi Fax +358 9 680 36788 Contact Persons [email protected] Jussi Eerolainen www.citycon.fi Chief Real Estate Officer Contact Person [email protected] Hanna Jaakkola Antti Mäkinen Investor Relations Officer Project Manager, Tapiola [email protected] [email protected] Pekka Vikkula Specialty Areas Project Manager, Suurpelto Citycon is a property investment company which concentrates [email protected] exclusively on retail premises. It owns, leases, manages and develops Torsti Hokkanen its properties and plans and commissions the construction of new Project Manager, Espoo Centre premises. Citycon operates in Finland, Sweden, and the Baltic [email protected] countries. The company owns a total of 32 shopping centres and Matti Kokkinen 53 other retail properties.The fair value of the company’s entire Project Manager, Westmetro See page 28 property portfolio on 30 September 2007 was EUR 2,191.2 million. See page 40 [email protected]

CITY OF HELSINKI CITY OF TURKU MUNICIPAL PROPERTY CORPORATION P.O. Box 20 FI-00099 City of Helsinki P.O. Box 355 Finland (Puutarhakatu 1) Phone +358 9 3103 6258 FI-20101 Turku Fax +358 9 3103 6254 Finland Phone +358 2 330 000 Contact Persons Fax +358 2 262 7229 Hannu Penttilä [email protected] Deputy Mayor, City of Helsinki, City Planning and Real Estate [email protected] Contact Person Mikael Nordqvist Jouko Turto Head of Real Estate Department Managing Director [email protected] [email protected] Nyrki Tuominen Director, Business Development [email protected]

Further Information www.hel.fi/taske Urban Develoment See page 51 www.hel.fi/ksv City Planning Projects See pages and 18 26

1. Air Transport 4. Freight Forwarding 8. Parcel Pick-up and Delivery 12. Sea Transport 2. Customs Services 5. Freight Insurance 9. Port Services 13. Shipping and Chartering 3. Dangerous Goods Management 6. Information Logistics 10. Rail Transport 14. Warehousing 62 Nordicum 6/2009 7. Material Handling 11. Road Transport 15. Other Logistics Services & Consulting CITY OF VANTAA DTZ FINLAND OY Itämerenkatu 1, FI-00180 Helsinki, Finland Asematie 7, FI-01300 Vantaa Phone +358 10 836 8400 Finland Fax +358 10 836 8488 Phone +358 9 83 911 [email protected] www.vantaa.fi www.dtz.com/fi Contact Persons Contact Persons Leea Markkula-Heilamo Katja Makkonen Business Development Director Managing Director [email protected] Ilkka Kujanpää Reijo Sandberg Transactions Project Director, Marja-Vantaa Arno Jaulas [email protected] Transactions Armi Vähä-Piikkiö Juha Mäki-Lohiluoma Land Use Development Manager Valuation [email protected] [email protected] Jari Sainio Real Estate Agent Specialty Areas [email protected] Transactions Heikki Virkkunen Letting Project Director, Centres Corporate Services Investment

[email protected] See page 11 See page 46 Valuation

FINAVIA GC LEASING FINLAND OY P.O. Box 50 Äyritie 8 C (Lentäjäntie 3) FI-01510 Vantaa FI-01531 Vantaa Finland Finland Phone +358 9 7599 4211 Phone +358 9 82 771 Fax +358 9 7599 4250 Fax +358 9 82 772 090 [email protected] [email protected] www.grenke.fi www.finavia.fi Contact Person Contact Person Irmeli Paavola Teemu Simola Director of Communications Managing Director [email protected] [email protected] Specialty Areas Maintains Finland’s network of airports and the air navigation system. Specialty Areas Provides and develops safe, competitive airport and air navigation Grenke offers financing in the field of small-ticket IT leasing for services as well as their supporting commercial operations, to an such products as PCs, notebooks, copiers, printers , software or internationally high standard. Our customers are suppliers to the air state-of-the-art technology such as medical equipments. travel industry and air passengers. At the end of 2008 Finavia’s airport network consisted of 25 airports and the organization employed about

1 700 people. See page 17 See page 24

HYY GROUP, REAL ESTATE, KAIVOPIHA LTD LAHTI REGIONAL DEVELOPMENT COMPANYT – LAKES Kaivokatu 10 C, 3. krs FI-00100 Helsinki Askonkatu 9 F, FI-15100 Lahti, Finland Finland Phone +358 20 780 9320 Phone +358 9 1311 4250 [email protected] Fax +358 9 60 1020 www.lakes.fi [email protected] Contact Person www.kaivopiha.fi Erkki Karppanen, CEO [email protected] Contact Persons Anna Sarpo, Leasing Manager Subsidiaries & Representatives [email protected] LAKES – Lahti Regional Development Company is a regional Yrjö Herva, Director development organization. Its core tasks are co-ordination of the [email protected] regional business strategy, enterprise services, marketing of the region and looking after the general interests of business life in Specialty Areas Finland and abroad. HYY Real Estate, Kaivopiha Ltd, serves commercial and office premises customers as well as offers residences and activity and Specialty Areas association premises to students and the Student Union. Premises LAKES – Lahti Regional Development Company offers tailored are located in the centre of Helsinki around the Ylioppilasaukio and and individual assistance to help companies find the best possible business premises and industrial land in the Lahti region. See page 22 Kaivopiha squares. See page 48

1. Air Transport 5. Freight Insurance 9. Port Services 13. Shipping and Chartering 2. Customs Services 6. Information Logistics 10. Rail Transport 14. Warehousing 3. Dangerous Goods Management 7. Material Handling 11. Road Transport 15. Other Logistics Services & Consulting 4. Freight Forwarding 8. Parcel Pick-up and Delivery 12. Sea Transport Nordicum 6/2009 63 COMPANY BUSINESS CARDS

NCC PROPERTY DEVELOPMENT OY SKANSKA COMMERCIAL DEVELOPMENT P.O. Box 13 FINLAND OY (Mannerheimintie 105) FI-00281 Helsinki P.O. Box 114 Finland (Paciuksenkatu 25) Phone +358 10 507 51 FI-00101 Helsinki Fax +358 10 507 5318 Finland [email protected] www.skanska.fi www.ncc.fi Contact Person Contact Person Jukka Pitkänen Reijo Päärni Managing Director Senior Vice Precident [email protected] [email protected] Phone +358 20 719 2312

Subsidiaries & Representatives Specialty Areas Sweden, Norway, Denmark, Baltic countries Commercial development Specialty Areas NCC Property Development develops and sells commercial properties in defined growth markets in the Nordic countries and the Baltic region. We create future environments for working, living and See page 58 communication. See and page back 42 cover

SRV GROUP PLC TAMPERE BUSINESS REGION P.O. Box 500, FI-02201 Espoo, Finland Biokatu 12 Phone +358 20 145 5200 FI-33520 Tampere Fax +358 20 145 5279 Finland [email protected] Phone +358 40 557 5355 www.srv.fi www.tamperebusinessregion.com Contact Person Contact Persons Jouko Pöyhönen Markku Teittinen Director, Project Development Executive Partner, Tampere Business Region [email protected] [email protected] Matti Eskola Subsidiaries & Representatives Executive Partner, Tampere Business Region Russia, Estonia, Latvia, Lithuania [email protected] Specialty Areas Specialty Areas The SRV Group is a leading Finnish project management Starting business in Finland? contractor, also offering comprehensive property and construction Tampere region offers lucrative business opportunities in the services on a partnership basis. The company is engaged in the heart of Finland. Tampere Business Region provides all the relevant development and construction of commercial and office premises, information about the region’s business environment and also assists housing, industrial, logistics and civil engineering sites as well as on setting up a business. Entering the Finnish markets has never been entire business parks and housing estates in Finland, Russia and the easier! Interested? See page 31 Baltic states. Ask for more! See pages 54 and 56

TAPIOLA REAL ESTATE LTD VAASA AIRPORT LOGISTICS CENTER

Itätuulentie 2 Contact Person FI-02010 Tapiola Tommi Tuominen Finland [email protected] Phone +358 9 4531 Fax +358 9 453 3153

Contact Persons [email protected] VAASA REGION DEVELOPMENT COMPANY [email protected] www.vasek.fi Specialty Areas Tapiola Real Estate Ltd provides real estate investment and management services. Half of the company is owned by Tapiola General Mutual Insurance Company and the other half by Tapiola Specialty Areas Mutual Life Assurance Company. Tapiola Real Estate Ltd offers Vaasa region is the home of Scandinavia’s largest Energy technology real estate investment, managing and counselling services as well cluster. We offer business sites with excellent location and traffic as manages real estate investments and fixed assets. The company connections! Next to Vaasa airport, railroad, port, E8 and E12 main also engages in rental business, marketing, house management and roads, and one of the fastest growing business parks in Finland, we administration, maintenance, outsourcing and sales services. offer a unique possibility for state of the art logistics. See page 36 See page 56

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