NORDICUM Porvoo: Turku Brings Oulu Retools, Real Estate Annual Finland 2020 Guard Legacy, Ecosystem Re-energizes NORDICUM Embrace Future Edge Downtown RE Finland Real Estate Annual Finland 25th Anniversary Stordalen 12.-13.November 2020 Goes for the Crown Join the Finnish Real Estate summit in the city Registration fee 1390 e + VAT of Tampere and discover the vibrant Finnish Early bird discount – 25% until Real Estate Business. Be inspired. 11.6.2020 www.refinland.fi www.refinland.fi NORDICUM.com 2_ReFinland2020_210x277.indd 1 30.11.2019 11.23 1013 MARCH 2020 PALAIS DES FESTIVALS CANNES, FRANCE THE WORLD’S LEADING PROPERTY MARKET 26,800 real estate professionals 100+ countries 22,000 sqm exhibition area 6,380 investors 130+ conferences is a registered trademark of Reed MIDEM - All rights reserved trademark of is a registered ® - MIPIM BUSINESS RESIDENTIAL SERVICES BUSINESS LEVEL APARTMENT HOTEL IN CENTRE HELSINKI REGISTER NOW ON WWW.MIPIM.COM FROM 51 EUROS/NIGHT OR CONTACT OUR SALES TEAM [email protected] BUSINESS RESIDENTIAL SERVICES BUSINESS LEVEL APARTMENT HOTEL IN CENTRE HELSINKI FROM 51 EUROS/NIGHT Nordicum 3 NORDICUM Real Estate Annual Finland Spaceshifters Publisher PubliCo Oy Bringing various functions into a specific real estate project has Pälkäneentie 19 A FI-00510 Helsinki been a “go-to” move for industry players for a long time now. Finland This way, you can have public library or a healthcare center in a Phone +358 20 162 2200 shopping center with residential construction to boot. This type [email protected] of a mixed-use approach is attractive in the eyes of the inves- www.publico.com tors, as well, since it offers a certain diversification of space. Most dominant mixed-use project this year is YIT’s Tripla Editor-in-Chief Petri Charpentier Center, which holds the biggest shopping center in the Nordics – the Mall of Tripla – offering also significant residential reach. Editorial Coordinator There will be two 12-storey apartment buildings (with almost Liisa Hyvönen 400 homes) at Tripla. And then, there’s the connectivity issue. Pasila railway sta- Project Manager tion – fully integrated to Tripla – is the “superhub” for national Paul Charpentier and local railway traffic, trams and buses, pedestrian and bicy- Contributors cle traffic and possibly also the metro in the future. Ari Mononen SRV completed a similar mixed-use project, the REDI shop- Sami J. Anteroinen ping center, in Kalasatama in 2018. SRV continues to develop Lutz Ehrhardt high-rise residential buildings in the area, with also an office tower in the works. Language Editor Dialog Designs Heading northwest to Tampere, SRV is getting ready to start work on Tampere Deck and Arena – another high-profile mixed- Graphic Design use project, bringing residential, sports and culture together. Riitta Yli-Öyrä In both the REDI and Tripla shopping centers, as well as in the Tampere Deck and Arena, there are institutional investors as Sales shareholders, and they thus share the development risk with the Finland Mr. Paul Charpentier main developer. The institutions may also work together directly Phone +358 20 162 2220 with tenants in development projects. Sweden Institutions’ development strategies tend to emphasize the Mr. Johan Lindberg redevelopment of existing assets in their portfolios, where they Phone +358 20 162 2280 can, for instance, look for new uses for vacant properties. Accord- Germany ing to KTI Market Review, this is highlighted in current market Mr. Lutz Ehrhardt Phone +49 40 367 311 conditions due to the oversupply of office premises in the Hel- sinki metropolitan area, which is pressuring investors to look Cover Photo for new solutions. Nordic Choice Hotels An oversupply of offices in the Helsinki metropolitan area has generated lots of conversion and redevelopment projects in Printed by recent years. In 2018 alone, more than 100,000 square meters of Printall AS, December 2019 office space was removed from the market. The majority of the Photographic and advertising material is sent at the old office premises will be converted into residential use, but in owner’s risk. NORDICUM accepts no liability for the most central locations in Helsinki, many offices have been loss or damage. NORDICUM promotes Baltic Sea area cooperation and free markets. NORDICUM is and are being converted into hotel use. In some cases, office not affiliated with any political party or financial buildings are converted into educational use, too. institution. It seems that the possibilities inherent in a piece of real ISSN-L 1236-3839 estate are now more diverse than ever – or, at least, the imagina- ISSN 1236-3839 (Print) tions of the designers and developers are in fine form. ISSN 2242-9603 (Online) www.nordicum.com Sami J. Anteroinen Editor-at-Large PubliCo Oy is a member of The Finnish Periodical Publisher’s Association 4 Nordicum Nordicum 5 The World Justice Project (WJP) put Finland in third place in its 2019 Rule of Law Index. Finland is the third-least corrupt country in the world according to the Corruption Perceptions Index 2018 (CPI) by Transparency International. Finland placed sixth in the 2019 Global Talent Competitiveness The UN global Happiness Report Index (GTCI), while Helsinki was ranked seventh in the world. ranked Finland in first place for the European Commission’s Innovation second year in a row. The 2019 report Scoreboard 2019 study ranked Finland as Finland is the most stable country in the world (The Fund for ranked 156 countries by happiness the second most innovative member state Peace, Fragile States Index 2018). levels, assessing factors such as and the Helsinki-Uusimaa region as the most life expectancy, social support and innovative region in the EU. Finland is the freest country in the world together with Sweden corruption. and Norway (Freedom House, Freedom in the World 2018). The European Commission ranked Finland According to an EY study, Finland Finns have some of the best digital as the most digitally advanced nation in Builder of the world’s greatest cruise ships, former capital Turku is was once again the most popular skills in the world and are ready to Europe in its 2019 Digital Economy and making waves also in other sectors, such as ICT and Life Sciences. destination for foreign direct adapt to the rapidly changing future, Society Index (DESI), marking the first time investment in the Nordic countries. according to IMD World Digital the country claims the top spot. Finnish startup spirit is personified by super tech-event Slush, Oulu In 2018, Finland attracted more foreign Competitiveness. described as “Burning Man meets TED”, organized every investment than the other Nordic Save the Children’s 2019 report ranked November/December. countries combined. Finland as the third-best country in the Finland was named the second-most world for children. Corporation tax was lowered to 20% The Women, Peace, and Security Index significant contributor to clean- (from previous 24,5%) in 2014. The Helsinki-Vantaa ranked Finland the third-best country energy innovations relative to GDP by The Worldwide Educating for the Future Index International Airport offers to be a woman in its 2019 study. Information Technology & Innovation (WEFFI) placed Finland on top of its 2018 Finland has the highest Research & Development intensity the best connections from Foundation (2019). ranking, which measures how countries equip of all 28 European Union member states (Eurostat). Europe to Asia. their youth with future-oriented skills and The 2019 Work-Life Balance Index prepare them for tomorrow’s working life. Oulu – Capital of Northern Scandinavia – is the fastest growing city listed Helsinki as the best city for work- of the North, with hundreds of new startups and life balance among 40 of the world’s hi-tech edge. The air quality in Finland is the best most attractive cities. in the world, according to World Going medieval? Porvoo, with its picturesque wooden town Tampere Health Organization (WHO). Finland ranked number one in various True Luxury Travel ranked center, will make you feel like Pori areas of the Global Innovation Index Finland number one in its you’re in a fairytale. Hämeenlinna 2019, including mobile app creation, 2019 survey of wildlife travel PCT patent applications by origin, rule offerings around the world. Rauma of law and e-participation. Uusikaupunki Porvoo St.Petersburg Turku Helsinki - Tallinn Oslo i Stockholm I INK re S a m u m m m m i HEL k k k k 5 km k 6 km urk ampe Oulu 501 Por 51 Raum 50 Uusikaupunk 71 16 58 Hämeenlinna 12 T T Growth Corridors Going Strong 6 Nordicum Copenhagen Tandem Graphics 2019 Tandem The World Justice Project (WJP) put Finland in third place in its 2019 Rule of Law Index. Finland is the third-least corrupt country in the world according to the Corruption Perceptions Index 2018 (CPI) by Transparency International. Finland placed sixth in the 2019 Global Talent Competitiveness The UN global Happiness Report Index (GTCI), while Helsinki was ranked seventh in the world. ranked Finland in first place for the European Commission’s Innovation second year in a row. The 2019 report Scoreboard 2019 study ranked Finland as Finland is the most stable country in the world (The Fund for ranked 156 countries by happiness the second most innovative member state Peace, Fragile States Index 2018). levels, assessing factors such as and the Helsinki-Uusimaa region as the most life expectancy, social support and innovative region in the EU. Finland is the freest country in the world together with Sweden corruption. and Norway (Freedom House, Freedom in the World 2018). The European Commission ranked Finland According to an EY study, Finland Finns have some of the best digital as the most digitally advanced nation in Builder of the world’s greatest cruise ships, former capital Turku is was once again the most popular skills in the world and are ready to Europe in its 2019 Digital Economy and making waves also in other sectors, such as ICT and Life Sciences.