Nordicum - Real Estate Annual Finland 2015 - Page 17

A Annual Convention of Property Investment Prospects 2015 5th November 2015, Hämeenlinna, Finland Registration fee 1 350 € (+VAT) Early bird discount -20% until 12th June Come and join the meeting point for decision makers in the real estate industry in Finland. Register at www.propertyinvest.fi REAL ESTATE EDUCATION “The City of Outokumpu sought for outside ideas and the concept for Treasure Town was invented,” Mujunen explains. The key idea was to create an attractive travel destination for the whole family, using the appeal of the old mine as a way to reach people. “There are plenty of great places in Finland, but this type of a mining environment can not be found anywhere else.” The City of Outokumpu has invested four million euros in the “underground renaissance” and expectations are high for the future success of Treasure Town. Going Underground But what does all this mean practice? Well, for instance, the old mine features various locations where metals where processed – and this space was completely transformed for the purposes of events such as theatrical plays and musical concerts. Tourists seem to have heard the call of the old mine rather well: during the summer 2014, the number of visitors doubled from the previous year, coinciding with the launch of the new Children’s Mine. Also more and more companies are making their nests at the mine. To push the momentum even further, the local players created the Mine Game which was distributed to Finnish schools for educational purposes. “The operations around the mine can be characterised as highly active and the area is being constantly developed by the City of Outokumpu,” says Anne Mujunen. She expects that in the future, more investors and operators will arrive to the neighbourhood, since the infrastructure is now in place to achieve great things. Data Loves Finland? Other “treasures” are presently being uncovered all around Finland. As the old adage states: “Information is power,” many players have seized the opportunity to make money out of data. According to experts, Finland is probably the data-friendliest country in Europe at the moment. And why is this, you may ask? Start with the node-point connectivity between West and East, add super-reliable power grid and infrastructure… and throw in a gamechanging IT sector and attractive support packages. Even the “refreshing” climate is an asset, since servers crave cool conditions. The talk of the industry is “free cooling” which means that the ambient environment (rather than refrigerators) is used to cool the servers. The question that many data companies are asking themselves is this: why pay for a cooling system ten months of the year, when you can pay for just one month? Obviously, what you have here is a “data heaven” that made an impression on Wall Street Journal, even. From Paper to Bytes It all started five years ago when Google established a data centre in Hamina, Finland. After analysing numerous potential sites around Finland, Google set up shop in the old Summa paper mill, located on the Southern coast of Finland. Formerly owned by paper giant Stora Enso, the old plant fit Google’s plans well – for instance, the date centre could use sea water to cool down its systems. Google liked being in the neighbourhood so much that in 2013 the company announced an additional, EUR 450 million investment to expand its operations. The expansion represents the single biggest foreign investment in the history of Finland – and there are more similar cases on the way. Microsoft just launched a rather secretive data centre in the Uusimaa Region and the Russian search engine company Yandex is busy building its own centre in Mäntsälä. Nordicum 15