Nordicum - Real Estate Annual Finland 2016 - Page 17

Photo: Ari Talusen which will provide tremendous opportunities in this area,” Salo says, pointing out that this Food Market concept encourages diversity: there’s room for both fast food and fine dining here. “Conceivably, the Mall of Tripla can feature restaurants that are destinations in their own right.” Food Market will be complemented by Mall of Tripla’s very own market hall, Market Zoo, which will be anchored on authenticity and original flavours. Million Strong Vice President Seppo Martikainen from YIT agrees that the Mall of Tripla will be quite special in its accessibility: You can easily walk, bike or drive to Mall of Tripla. More than 500,000 local residents can reach Tripla in 10 minutes, and over a million people are within a 30-minute reach. “Every train in the metropolitan area stops in Pasila – and now that new Ring Rail Line was launched in summer 2015, we can expect volumes to keep growing. All of his bodes well for the Mall of Tripla,” he sums up. Tripla Alliance (From left to right) Seppo Martikainen, Vice President, Head of Transactions at YIT and Tapio Salo, Senior Vice President, Tripla, YIT. that Tripla will be big on city culture,” Salo promises. Get Eventified! YIT’s playbook in this arena borrows a page from ‘eventification’ – a shopping centre is a great place for various concerts, pop-ups, movie nights and other cultural happenings. “For instance, there will be 10,000 square metres reserved only for restaurants Carrying out these ambitious plans takes broad shoulders. On December 17, 2015, it was announced that YIT has succeeded in putting together a coalition to raise the Mall of Tripla. YIT led Etera Mutual Pension Insurance Company, Onvest Oy, Fennia Mutual Insurance Company and Fennia Life Insurance Company in signing a letter of intent on the establishment of a joint venture for the implementation of the Mall of Tripla and its parking facilities. The overall value of the shopping mall and the parking facility is approximately EUR 600 million – which is quite remarkable, even by YIT’s standards. “This is the biggest single construction project in the history of the company. We have built communities, over a long period of time, or participated in large road construction projects – such as the E18 highway – but nothing that can quite rival this,” Tapio Salo comments on the scale of the project. ping mall and the parking facility with the property company (that is owned by the joint venture) in spring 2016. The building permit for the first implementation phase – the parking facility – has already been granted, and the excavation work is underway. “Actually, we started doing the preparatory work on the site already in spring 2015, but now we have moved into excavation works,” Tapio Salo confirms. Tripla Trending But while the launch of the next-gen shopping centre is still almost four years away, there is already a definite buzz in the retail market. It appears that this type of a commercial superhub is exactly what the doctor ordered, even during trying economy. Approximately 20 % of the retail space in