nordicum - logo NORDICUM’s Real Estate Issue is a yearly publication presenting the leading Finnish companies within the real estate and architecture. The special report provides an overview of the Finnish real estate as well as information on real estate projects.
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Real Estate Annual Finland 2018

In this issue, we sat down with urban development guru Bruce Katz to talk about the (r)evolution of the cities – and, by the way, discovered his new favourite city. We also celebrate Finland’s 100th birthday and the long-awaited launch of the new western metro line from Helsinki to Espoo. As always, NORDICUM dives deep into the real estate market and showcases the most dynamic urban development projects around the country. Who's hot? Who's not? - Find out here!

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Columnists
THE ANGLE by Marja-Leena Rinkineva
Open Helsinki
The writer is Director of Economic Development of the City of Helsinki
THE ANGLE by Petteri Lautso
Building Information Modeling brings unprecedented lify-cycle cost control to retail and commercial property development
The writer is Customer Value Director of Ruukki Construction
THE ANGLE by Hannu Penttilä
Culture Boosts Helsinki to New Heights
The writer is Deputy Mayor of the City of Helsinki
THE ANGLE by Kari Kauniskangas
Back to the original urban idea
The writer is CEO of YIT
THE ANGLE by Markus Laine
Shopping Centres keep evolving
The writer is Director, Real Estate Transactions and Investors of SRV Group Plc
THE ANGLE by Tero Estovirta
What is City Development?
The writer is Managing Director of NCC Property Development Oy
THE ANGLE by Olavi Louko
On Track for Solid City
The writer is Deputy Mayor of the City of Espoo
Editorial
Putting the FUN in ’functional’
 
What makes a star city? While not everybody would agree on the true characteristics of a great city, there are still some features that are deemed attractive to both companies and people. »
Smart Moves
Nordicum 2017
From the waterfront to high-rise construction and public transport, Tampere is taking bold steps into the future
Tampere is on a mission to “grow smart together”. Tampere Region, Finland’s second biggest city region, has hit a development groove that is quite impressive: the Region is investing € 6-10 billion by 2030 in order to build an internationally attractive Smart City. What this means is that digital solutions will amplify the quality of life for citizens as well as boost the local business ecosystem.  »
Reinventing the Waterfront
Nordicum 2017
Hämeenlinna wants new real estate development which revolves around citizen participation
Located along the Helsinki-Tampere corridor, Hämeenlinna has often been overlooked as a potent hot spot for growth. However, Hämeenlinna is a vibrant community at the junction of a nationally important rail, road and waterway network – and with plenty of small-town appeal.  »
Southwest Sparkle
Nordicum 2017
Industry is launching a big-time comeback on the west coast
There’s something really interesting cooking in Southwest Finland. While just a couple of years ago, the Regions’s top industries – such as marine and automotive sectors – where struggling, now it seems that the entire Region is mounting one impressive comeback.  »
Gaining Momentum
Nordicum 2017
The versatile Turku Region is a hotbed of innovative industries – both old and new
Ships, ahoy! The Turku shipyard has made a new record with as many as ten vessels in the orderbook. Reborn as Meyer Turku, the shipyard is investing in new technology and hiring more and more “metal heads” to build the world’s finest cruise ships. Jouko Turto, Director of Turku Municipal Property Corporation, says that the Turku shipyard is a fine example of the local industrial prowess – but it is not the only success story around here.  »
Annual Convention of Property Investment Prospect in Aulanko, Hämeenlinna, Finland
Nordicum 2017
Aulanko Goes Digital
Futureproofing buildings, communities and cities was one of the big themes at the Annual Convention of Property Investment Prospects in Aulanko, Hämeenlinna, Finland. Hosted on 3–4 November, 2016, Finland’s biggest event for the Finnish real estate business pooled the industry professionals together to talk shop and envision new, brave horizons.  »
Make It Flow
Nordicum 2017
The next wave of intelligent buildings requires some considerable IQ – already in the construction phase
Digitalisation is revolutionising the technical solutions used in buildings, starting from the design all the way to the building maintenance operations. In the past, various building systems, such as access control and elevator systems, were designed independently. Focusing on specific building systems for specific needs, this method, however, often results in a fragmented approach and rather fixed business structures within the industry. Digital disruption is already hard at work in integrating the various solutions to increase value for users and building owners.  »
Going Residential
Nordicum 2017
When you’ve got your eye on an apartment, doing your homework is simply a must
Real estate investment has made a comeback in a big way – with new products, new international players and intriguing prospects. Looking at the residential side, for instance, it is easy to see that the current strong housing demand – together with abundant supply of capital – are pushing for a significant increase in the supply of rental residential dwellings.  »
Make the Deal
Nordicum 2017
Property transactions hit an all-time high in Finland in 2016 – but what will the new year bring?
Real estate is keeping it real. The year 2016 witnessed the highest property transactions volume ever in Finland. Already in early December, the transaction volume in the Finnish property market hit its new annual record level with approximately EUR 6.4 billion. The former record, dating back to 2007, was EUR 6.29 billion.  »
The Comeback King
Nordicum 2015
Spearheaded by shopping centre Ainoa, the legendary Tapiola Centre is being upgraded for the future
Once again, there is an air of anticipation in Tapiola, the iconic “Garden City” of Espoo. Tapiola, of course, is near and dear to the hearts of all Finns and widely regarded as a natural treasure; upon its birth over 60 years ago, Tapiola was a shining example of a modern community rooted in natural values. The first-built parts of Tapiola Commercial Centre (from the 1950s and 1960s) still form a valued architectural landmark - but, over time, the centre lost some of its momentum and its sense of purpose.  »
Aalto the Audacious
Nordicum 2015
Aalto University spearheads the development of Otaniemi
There are big things in store for Aalto University and its environs in Otaniemi, Espoo. First of all, Aalto University is looking to build a true main campus to fully reflect its reputation as “the innovation university”. The cornerstone in these plans is the new metrostation - to be launched in late 2016 – which will push connectivity into a high gear for sure. The metro will spark up also R&D and corporate activities in the area, as well as residential solutions, says Kari Kontturi, Managing Director of Aalto University Properties.  »
Change the Game
Nordicum 2015
Shopping centres are becoming multipurpose experience hubs in order to win back the consumers
With the pressure from e-trade, shopping centres are working hard to reinvent themselves. One way to succeed is to become ‘destinations’ in their own right. Around the world, many new shopping centres are incorporating a heavy dose of entertainment, restaurants and cafés to their mix to make their centres recreational in addition to strictly commercial; the idea is to drive frequency of visits and length-of-stay. In the USA, there’s talk of ‘retail entertainment centres’ (RECs), ‘retail-tainment’, ‘shoppertainment’ or ‘mall-tainment’ – which certainly means that consultants are awful at twisting words, but, more significantly, heralds the beginning of a whole new era for shopping centres.  »
The Helsinki Hook-Up
Nordicum 2015
The Pasila - Vallila - Kalasatama axis provides a powerful trio - and companies are hearing the message loud and clear
Helsinki is in the middle of a massive transformation that is unprecedented in Finland - and, in fact, one would be hard pressed to find an undertaking of equivalent scope anywhere in Europe. The original trigger was this was the exit of all local port operations from central city areas to a brand new port in Vuosaari, east from downtown, in 2008. As a consequence, the field opened up for ambitious waterfront construction like never before: residential, commercial and office construction kicked off along the shores.  »
Subway Smarts
Nordicum 2015
With compact urban structure in mind, SRV is targeting three metro stations for ambitious development
In making the smart & sustainable communities of the future, there are a range of issues to consider - but from the point of view of the developer/constructor, there’s a couple of things that top the list.  »
The Rebirth of Cool
Nordicum 2015
Wanting to make office fun & functional, Skanska CDF launches an ambitious development project at the Helsinki Airport
Improving productivity is what more and more companies are looking for today. Updating the entire concept of today’s office is very much linked with this goal. Björn Mattsson, the newly appointed Managing Director for Skanska Commercial Development Finland, says that companies should recognise how the ways of working have changed over the years.  »
Magnetic North
Nordicum 2015
Oulu is ready to become the leading city in Northern Scandinavia
Northern Scandinavia is ripe with opportunities - if one has the will and resources to pursue them. Leading the pack in this department is Oulu, the largest city in Northern Finland with 250,000 residents. Located on the shores of the Bay of Bothnia, in the Oulunjoki river delta, Oulu has long been known for its innovative expertise - for example, Oulu’s ICT prowess is remarkable also on an international level.  »
Bring on the Brains
Nordicum 2015
Turku accelerates its Smart City agenda by creating a “supercampus”
Going well beyond sustainable, Turku gets busy raising its urban IQ: Smart City attitudes and practices are gaining momentum in the entire Turku Region. This transition did not, however, take place overnight: sustainable development has long been a core value at Turku and the community has been internationally noted for its efforts, too – for example, receiving the ICLEI Honorary Award in 2006 and signing the European Declaration of Sustainable Cities already in 1996. Turku really switched into a high gear in 2011, as the Urban Infrastructure Initiative (UII) workshopped intensively with the City of Turku to identify priorities for advancing sustainability.  »
Opportunity Knocking
Nordicum 2015
Union Investment Real Estate sees great potential in Finland - and elsewhere in Nordics
Sustainability, energy efficiency and the environment remain the key drivers in the real estate investment sector, says Philip La Pierre, Head of Investment Europe, Union Investment Real Estate GmbH. La Pierre says that his company firmly believes that sustainable practices go hand in hand with economic added value and the viability of sustainable products over the long term.  »
Core Values
Nordicum 2015
Tampere is reinventing its city centre and waterfront - and it’s just getting started
The City of Tampere is looking to retool its downtown area - and use this “core power” to take the entire Tampere Region into a whole new level. The Tampere City Centre already holds plenty of appeal, but there’s much more to come: according to the long term plans, the city centre will feature 15,000 new residents and 15,000 new jobs by 2030.  »
Previous Issue
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Working on a Dream
Nordicum 2014
Richard Armstrong wants to build a new Guggenheim museum in Helsinki
Helsinki, the Daughter of Baltic, has had her share of suitors in the past. This time around, there is a very persistent admirer at her doorstep.  »
Culture Club
Nordicum 2014
Culture drives cities, cities push culture
In metropolises around the world, there is a thirst for all things cultural.  »
Destination: Finland?
Nordicum 2014
The Finnish Travel & Tourism sector is poised for a major breakthrough
Lately, Finland has been a very hot topic in international discussion. The best-know museum brand in the world, Guggenheim, is keen on launching operations here – despite being turned down once already. And then in October, Google announced that it will double the size of its data center in Hamina – which, by the way, is the biggest single foreign investment in Finland to date.  »
Ylläs Calling
Nordicum 2014
Metsähallitus embarks on its most ambitious real estate development project yet
The number one draw in Finnish tourism, in many regards, is Lapland, home of Aurora Borealis, countless herds of reindeer and, of course, Santa Claus.  »
Reinventing the City
Nordicum 2014
New urban revolution is cooking in the fringe areas
Urban regions have undergone significant changes in the past few decades – and the speed is only increasing.  »
Helsinki Unchained
Nordicum 2014
Helsinki seeks to reinvent the waterfront – and beyond
Helsinki is in the middle of a transformation that is unprecedented in Finland – and noteworthy also on the international level.  »
The Perfect Cut
Nordicum 2014
Skanska’s new workplace concept cuts down on square metres and boosts productivity
Managing Director Jorma Lehtonen says that it is high time that companies recognise how dramatically the ways of working have changed over the years.  »
Eye on Opportunity
Nordicum 2014
Union Investment Real Estate perceives plenty of potential in Finland
Philip La Pierre, Head of Investment Europe, Union Investment Real Estate GmbH, says that his company firmly believes that sustainable practice goes hand in hand with economic added value and the viability of sustainable products over the long term.  »
Back in the Game?
Nordicum 2014
Real estate investors are – slowly but surely – coming around to take some risks
Janne Larma is expecting for investors to start looking for targets outside prime.  »
Think Big
Nordicum 2014
YIT sets out to create a true superhub in Pasila
Pasila railway station and its surrounding areas will experience a total makeover in the coming years.  »
Aulanko looks into the Future
Nordicum 2014
Annual Convention of Property Investment Prospects was once again held in Aulanko, Hämeenlinna, Finland, in November.
For two days, real estate professionals listened to the presentations and networked with their peers, talking shop and – more and more – peering in to the future.  »
Previous Issue
Nordicum 2013
High Times
Nordicum 2013
Finland’s biggest residential area project is taking shape in Kalasatama, Helsinki - bringing also unprecedented commercial appeal
Kalasatama is the most significant residential area construction project in Finland during this decade, and quite possibly the next, too. In fact, the area will be ready by 2030 when 20,000 residents and 8,000 jobs are to be found here. An undertaking of this magnitude deserves a worthy anchor – and SRV is poised to build a strong heart for the new district. »
Total Make-Over
Nordicum 2013
With focus on waterfront renaissance, Helsinki kicks-off a true transformation
Helsinki is going full-speed into the future. Shifting the former freight port operations away from central city sites to a new eastern harbour in Vuosaari has opened the game for ambitious waterfront construction. As a result, the Daughter of the Baltic has now entered the biggest construction boom in the city’s history. Large areas are already under redevelopment, as residential and commercial and office construction is kicking off along the shores. »
The Power of Three
Nordicum 2013
Tapiola, Otaniemi and Keilaniemi are promising to take innovation to new heights
Combining business savvy with design and science excellence sounds like a winning formula - and this is why the "Power Triangle" of three East Espoo neighbourhoods has been such a hot topic of late. Tapiola, Otaniemi and Keilaniemi have shot to international prominence all on their own, but put together they provide a truly unique combination. »
Big Apple Goes Mega
Nordicum 2013
Matinkylä metro station will be the most active station in the explansion line - offering a diverse service package
The coming metro line is causing waves all around Espoo – but nowhere is the excitement more tangible than in Matinkylä, which will be the end of the line for the westbound line. Already a home to the sixth biggest shopping centre in the country – Iso Omena (or, Big Apple, in English) – the emerging metro centre will push the neighbourhood into another level entirely. »
Reinventing Tikkurila
Nordicum 2013
YIT is building an urban power hub in the heart of Vantaa
The future of the Helsinki Metropolitan Area is built upon tracks of steel. In addition to the metro expansion to Espoo, there is another high-profile project in the works. Ring Rail Line will reach north from Helsinki, ultimately connecting the downtown with the Helsinki-Vantaa International Airport. »
Innovations:
The Great Fire of Turku in 2013
Nordicum 2013
Turku explores the full potential of science parks with network excellence
Turku, the first capital of Finland, has always possessed a business scene that combines diversity and depth. The city was also among the first in Finland to realise the value of clusters and cooperation. Strong clusters – such as biotechnology and world-class marine cluster – have emerged through innovative attitude towards networking. »
Versaltility in Trying Times
Nordicum 2013
Shopping centres are showing
Shopping centres are searching for an identity that allows better integration into surrounding community. Of the available offering in shopping centres in Finland today, on average 27 % consists of services, such as cafés, restaurants, movie theatres and fitness centres. Furthermore, it is no longer rare to find public services such as health services or libraries inside a shopping centre. »
Cure for the Common Office
Nordicum 2013
Skanska's new headquarters - first of four buildings - is showing the way into the future
Mannerheimintie – the most high-profile street in Finland – finally has a worthy "gatekeeper," so to speak. Skanska is raising a quartet of office buildings in the corner of Mannerheimintie and Hakamäentie street, with two buildings already up and running. This visually pleasing entity is known as Manskun Rasti and it is situated only a couple of kilometers away from downtown, featuring superb connections. »
Opportunities for the brave?
Nordicum 2013
Janne Larma advises property investors to look beyond Helsinki Metropolitan Area
No area of the property market is safe from the economic uncertainty which continues to press on. As the supply fails to meet the demand, transactions in the market take time to materialise. The summer of 2012 offered a ray of hope with a few promising transactions, but the rest of the year showed that there was really very little to be optimistic about. »
Next Issue

The next issue of Real Estate Annual Finland is coming out in January 2016

 
Northern Lights Shine the Brightest
Nordicum 2017
Speeding up the growth path, Oulu is set to capitalise on a wealth of opportunities in Arctic Europe
To paraphrase an adage from the Old West: “Go North, young man!” Oulu’s population is the youngest of all European cities and, even more importantly, it is the fastest growing city in the Nordics. In September 2016, the City of Oulu reached 200,000 citizens, and the Oulu Region now boasts a quarter million people. Hailed as the “Capital of Northern Scandinavia,” Oulu is poised to be one of those pioneering European cities that are pushing the boundaries of technology, creating innovative business models in the wake of engineering prowess.  »
Reach for the Sky
Nordicum 2017
The lure of Helsinki proved irresistible for hotel mogul Arthur Buchardt
When real estate investor Arthur Buchardt came to Helsinki for the first time – 30 years ago – he fell in love with the city and its people. Hailing from Norway, he found that the Finns were kindred spirits – oft-times shy straightshooters who say and mean the same thing.  »
Shopping Centres
Nordicum 2017
Disruption Hits Shopping Centres
Shopping centers are facing a big challenge as digitalisation is changing the face of retail as we know it. What’s the point in going to a shopping centre, if you can find what you’re looking for online with a few clicks of a mouse?  »
Futureproof Your Office
Nordicum 2017
As the ways of working keep evolving, YIT wants to reinvent today’s offices – starting with Pasila’s Tripla
The future of offices may well be on display in Pasila, Helsinki – in just a couple of years. The Tripla Centre which is currently being built in Pasila will also change the way we look at work, believe Tuula Klemetti and Teemu Haataja from YIT.  »
Eversheds Finland:
Nordicum 2017
Transactions Hit Record Numbers
The Finnish real estate is red hot. According to the statistics of KTI, transaction volume in the Finnish property market reached its new annual record level with approximately EUR 6.4 billion in December 2016. The former record, dating back to 2007, was EUR 6.29 billion.  »
Next Level
Nordicum 2017
LocalTapiola is leading the revitalisation of legendary Tapiola Centre
Finnish economy seems to be emerging from hibernation, with the construction sector leading the way. One development project of also national significance is Tapiola, the iconic “Garden City” of Espoo. With the first parts of the Tapiola Centre dating back as far as the 1950s and 1960s, it is long overdue to give the Centre the beauty treatment it deserves.  »
Ready for Big Time
Nordicum 2017
Powered by Vision 2050, Helsinki’s new city plan is a strong enabler for growth
In October 2016, the Helsinki City Council approved the new city plan after a heated six-hour discussion – during the night, the councillors took the floor nearly 150 times. But, as the dust settled, there was a brand new city plan which promises to steer the development of Helsinki far into the future.  »
REDI for the Big Time
Nordicum 2017
SRV is creating the perfect marriage of retail and residential in Kalasatama – with extra emphasis on experience
Shopping centres are reinventing themselves in a big way – and REDI, located in Kalasatama, Helsinki, aims to be among the pioneers of the new era. Implemented by SRV, REDI is expected to open its doors in autumn 2018.  »
Reinventing Vallila
Nordicum 2017
Vallila District is looking for change – in a major way
Re-energising existing neighbourhoods is a big challenge in urban development. The key to success lies often in “digging deep”: one must get to the core of the identity of the community, and find the strengths therein.  »
Out of the Shadow
Nordicum 2017
Green and growing, Espoo and Vantaa are proving to be a lot more than Helsinki’s sidekicks
The Helsinki Metropolitan Area is a lot more than just Helsinki. To the west, there is Espoo, Finland’s second largest city, and on the northeastern side one finds Vantaa, the fourth largest city in the land. Both of the cities are vital in developing the metropolitan area.  »
Wanted: Urban IQ
Nordicum 2015
Smart cities are in the forefront of digital revolution and the fight against climate change - and they’re just getting started
Smart cities are not all about technology anymore. In fact, strictly speaking, they never were - but when smart cities first emerged as a concept, hi-tech was always front and centre, says Dr. Boyd Cohen, one of the planet’s leading authorities on smart cities. Cohen believes that this misconception has caused some pushback from media and citizen groups, because of the general perception that the “big brother” will just have more ways to control, manipulate and observe the population in a smart city setting.  »
Triple Your Pleasure
Nordicum 2015
Rooted on Smart City ideology, a new superhub is rising in Pasila
At the core of emerging Smart Cities, there is the perfect marriage of responsibility and business opportunities, says Juha Kostiainen, Senior Vice President, Urban Development, at YIT.  »
Breaking New Ground
Nordicum 2015
Innovative cities transform old mines and paper mills to 21st century moneymakers
The challenge that many cities face is generating new business and new companies, thus creating more jobs. Around the world, communities with strong industrial roots have struggled as mines and mills have been shut down. However, in the new knowledge-intensive Experience Economy there is plenty of room - and even a demand - for cities with an innovative mindset and willingness to see tradition and history as a springboard, not a tombstone.  »
Service Edge
Nordicum 2015
Business parks need to rededicate themselves to serving the customers once again, says Heikki Levo of Peab Invest
Business parks can reach their true potential only if the developers learn to listen to the tenants - and listen well. Managing Director Heikki Levo of Peab Invest believes that a lot of the talk involving business parks revolves around issues that are of secondary importance. As generals are always busy fighting the previous war, so are the construction companies tied to reliving the past glories.  »
How Smart Is Your Industry?
Nordicum 2015
Combining expertise from various fields, Pori is pushing the boundaries of innovation with great results
Rooted on strong industrial tradition, a number of Finnish cities is making the transition to smart cities of the future. One of the pioneering communities in this regard is Pori, located on the west coast of the country. With 85,000 inhabitants, Pori is the 11th biggest city in Finland – and, more importantly, the Pori City Region is the 7th biggest work and economic area in Finland with 138 000 inhabitants. According to a report by Ministry of Employment and the Economy, Pori City Region is among the top three most positively developing regions in the land and a key industrial powerhouse.  »
Redbrick Redemption
Nordicum 2015
Shopping centre Puuvilla re-energised an old industrial neighbourhood in Pori
The citizens have voted - with their feet and wallets. As the shopping centre Puuvilla opened its doors on 30 October 2014 in Pori, Finland, people showed up in a big way. The shopping centre management had set a target of 80,000 customers for the extended weekend (Thursday through Sunday), but the four-day grand opening drew in almost 125,000 people.  »
Going the Extra Mile
Nordicum 2015
The Western metro went for an encore before the line is even operational - the “bonus stretch” enables smoother logistics and more effective construction
September 29, 2014, provided ample cause for a celebration. The City Council of Espoo decided to issue an absolute guarantee for the loans that finance Espoo’s share in the construction of the West Metro line Matinkylä-Kivenlahti. This means, in effect, that the continuation line for the western metroline with five new stations will, indeed, be built.  »
End of the Line - Only For Now
Nordicum 2015
Matinkylä is the “anchor for all ages” for the western metro line
As the new western metro line is poised for launch at the end of 2016, we already know there will be a sequel, an additional stretch of tracks going westwards. For years to come, however, the end of the line will be Matinkylä which has experienced a wave of intense development lately. According to Markus Saari, Project Director for the City of Espoo, there’s still plenty of upgrades in store for the neighbourhood.  »
Cleared for Launch
Nordicum 2015
“Innovation Triangle” of Tapiola, Otaniemi and Keilaniemi is poised to take Espoo - and Finland - to a whole new level
Next year, the western metro expansion will take connectivity in the capital region to a whole new level. The largest infrastructure project in Finland will introduce eight new stations, of which six are located in Espoo. The entire Western Metro line will transport more than 100,000 people every day - which means that Espoo is building its urban structure in line with the key principles of sustainable development.  »
Louko’s Legacy
Nordicum 2015
Espoo’s “development dynamo” is retiring in summer 2015 - what kind of a legacy does Olavi Louko leave behind?
The vision for the City of Espoo states that Espoo is a pioneering community that is driven by five city centres: a responsible, compassionate city that is great for living, learning, working and running a business. The one man who has probably done more than anybody else to bring this vision into fruition is Deputy Mayor Olavi Louko.  »
Off the Ground
Nordicum 2015
AiRRport promises to unleash the true potential of air, road and rail traffic
There’s a real game-changer in the works in the Tampere Region. The idea is to revolutionise air travel - or rather, to make sure that air traffic fulfils Tampere’s promise as a Smart City of tomorrow. Known as the AiRRport concept, the new logistics scheme promises to bridge air with road and rail in an unprecedented manner.  »
Just Push ‘Start’
Nordicum 2015
Startups energised the Aulanko Property Convention
The real estate professionals showed up in numbers again in Hämeenlinna, Finland, as the Annual Convention of Property Investment Prospects was held in Aulanko. During the two-day November seminar, trends of money were analysed in no small detail, since the changing financing and investment market presents its share of challenges - and also opportunities. To take care of the latter, Aulanko featured an interesting startup event this year: five startup companies from the real estate sector pitched their ideas to the jury of three Finnish business angels.  »
Back in the Game
Nordicum 2015
Property transaction volumes have bounced back - will the trend last?
In 2014, the total volume was close to EUR 4 billion, marking - by far - the highest volume since 2008.  »
Previous Issue
Nordicum 2014
Metro Magic
Nordicum 2014
The tunnelling effort of the western metro line is done
All and all, the western expansion will introduce eight stations. »
Power Triangle
Nordicum 2014
Tapiola, Otaniemi and Keilaniemi join forces to create the most innovative trio in the country
Combine business savvy with design expertise, add a healthy dose of science excellence and what do you get? Sounds like the “Power Triangle” of East Espoo: namely, Tapiola, Otaniemi and Keilaniemi.  »
Be True to Your School
Nordicum 2014
Aalto University is building a true heart for its historic main campus
Aalto University – the new academic entity hailed as “the innovation university” – is looking to build a true main campus in Otaniemi.  »
Spearheading Change
Nordicum 2014
Shopping centre Ainoa is the latest piece of the puzzle in the reinvention of the legendary Tapiola Centre
Tapiola, the iconic “Garden City” of Espoo, is going through a serious beauty treatment – and there are a lot of exciting things going on at its very core, in the Tapiola Commercial Centre.  »
REDI for Success
Nordicum 2014
Kalasatama’s very own shopping centre is big on connectivity – creating both logistical and emotional proximity
SRV is looking to upgrade the concept of a modern shopping centre – just in time for Finland’s centennial celebration in 2017.  »
Shopping centres fight back
Nordicum 2014
With e-commerce coming on strong, shopping centres learn new moves to cope
According to recent estimates, as much as 90 percent of retail sales growth in Britain, France and Germany between 2012 and 2016 is expected to be online, leaving the off-line players to fight for scraps. Are the shopping centres at the end of their rope?  »
Maximising Momentum
Nordicum 2014
New Growth Corridor strategy takes Turku to another level
There is a strong Growth Corridor emerging along E18 motorway from Turku to Helsinki and onwards to St. Petersburg. The key hub in the master plan is Turku, centrally located on the southwest coast, which has great connections to both Stockholm (via sea) and Helsinki.  »
Get Connected
Nordicum 2014
Fresh real estate development opportunities emerging in Lahti
Lahti is known for its great location and connections, but the City of Lahti wants to improve its urban structure and connectivity even further.  »
Bring Out the Stars
Nordicum 2014
Tampere ups the ante with downtown renaissance, high-rise construction and green-edge solutions – and develops into a world-class Innovative City
In recent years, Tampere has clearly been among the winners when it comes to attracting people, companies and investments.  »
Time to Move
Nordicum 2014
From pedestrian zones to intermodality, face of transportation keeps changing
City centres around the world are struggling with congestion issues – but the rising green consciousness is providing urban planners with tools to combat the problem.  »
Previous Issue
Nordicum 2013
Suurpelto Gets Going
Nordicum 2013
"Community of the Future" rides on a wave of new innovations
The City of Espoo has high hopes for Suurpelto, a new community with a fresh attitude. Pekka Vikkula, Project Manager for Suurpelto, says that 2012 saw major development for the area as the number of residents doubled to present 2,000. »
New era for Tapiola Centre
Nordicum 2013
Great Expectations
Tapiola Centre, the cultural and commercial heart in the City of Espoo, is on the brink of a new era. Along with the new metroline and forthcoming underground bus terminal, the Tapiola Centre area is expected to become the main regional public transportation hub in Espoo and one of the biggest in the Helsinki Metropolitan Area. »
Reach for the Sky
Nordicum 2013
Urban evolution in Tampere brings waterfront appeal, green communities - and spectacular high-rise construction
Tampere keeps growing and attracting people, companies and investments. According to a recent study by Taloustutkimus, Tampere is the best large city in the eyes of the corporate decision-makers. Companies both big and small are especially keen on Tampere’s great location and traffic connections. Also the versatile commercial services were deemed noteworthy. »
Tap into Travel
Nordicum 2013
Invest in Finland believes that there is plenty of unexplored potential in tourism - also from the real estate perspective
One of the sectors which has really taken off in Finland recently is travel & tourism which still has monster potential. In this field, there are interesting opportunities for real estate investors with big ambitions. As it stands, what the industry often lacks is prime real estate to anchor operations, says Tuija Tommila, Business Development Manager from Invest in Finland. There’s a wave of new construction rising around the country – but room for more, too. »
Perfect Match
Nordicum 2013
Design and environmental approach boost businesses in Lahti
Coming off a stellar World Design Capital year in 2012, the City of Lahti is eager to keep exploring especially the business opportunities inherent in the world of design. Jyrki Myllyvirta, Mayor of Lahti, points out that focus on industrial design was a part of the City’s strategy long before the WDC2012 designation, but the year has certainly served as a catalyst. »
Rebound City
Nordicum 2013
Kouvola is reinventing itself via trade, logistics and a wave of new construction
Rooted on strong industrial expertise, Kouvola Region is driven by an innovative mindset and its excellent location near both Helsinki and St. Petersburg. Presently, there are plenty of exciting things going on in the dynamic region. »
The Helsinki Spring
Nordicum 2013
Straight up: serial entrepreneur Steve Blank discusses what's right with the Finnish start-up scene - and, more relevantly, what's wrong with it
Last September, U.S. start-up expert Steve Blank spent three weeks in Finland teaching and speaking to thousands of entrepreneurs, venture capitalists, government officials and even ministers. A year later, Blank remains convinced that Finland has the potential to become a start-up hub as long as the country develops a long-term strategy for venture investing. »
High Hopes
Nordicum 2013
Helsinki wants to go vertical - but which of the 50 high-rise projects are truly viable?
After decades of existence close to the street level, the Daughter of the Baltic is seeking the high life. High-rise construction is the talk of the town all around the Helsinki Metropolitan Area, with authorities nodding approvingly. The critics’ camp is in an uproar, complaining that the city profile will be sacrificed to the corporate altar. With 50 tower projects in the works in Helsinki alone, one is right to ask: what’s going on? »
Core Concerns
Nordicum 2013
City centres must reinvent themselves- or risk being forgotten altogether
City centres have traditionally held an important role in society, but motorisation and emergence of shopping centres away from city centres has meant that downtown is no longer the only game in town. However, the city centres are not badly armed in this fight: authenticity and history work in the favour of downtown hubs. Still, shopping centres have succeeded in offering a wellbalanced mix in a compact setting, and city centres are under constant pressure to keep evolving. »
Break on Through to the Other Side
Nordicum 2013
With the launch only a couple of years away, Espoo is putting the 'metro' in metropolis
Taking the metro from Helsinki to Espoo was a distant dream not so long ago, but right now, one can almost picture the launch of the western expansion line. After all, the new metro line will kick off at the end of 2015. »