Nordicum - Real Estate Annual Finland 2016 - Page 27

as a significant centre for the Helsinki core area in the east, a real landmark,” Laine says. Construction work at the REDI site began in April 2015, and the work continues to proceed smoothly. Excavation work on the parking facility is already nearing completion, and a start has been made on the foundations and framework. “We’re moving full steam ahead,” Laine confirms. Furthermore, the leasing of the shopping centre’s premises is progressing simultaneously, and advance marketing of the first residential units will begin in earnest in early 2016. On 15 December 2015, the agreements on the plots for REDI were signed by the SRV-led development consortium and the City of Helsinki. In addition to SRV, the REDI consortium consists of Ilmarinen Mutual Pension Insurance Company, OPPohjola Group, LocalTapiola Mutual Life Insurance Company and Local Tapiola General Mutual Insurance Company. The agreements have a total value of EUR 40 million. Combining high-rise construction and residential development is something that is taking place at the other end of the metro tracks, too. This high-profile “vertical” project in the works is Keilaniemi, Espoo, which is the very first place where the new metro will enter this year, as the western line becomes operational. Keilaniemi is already an area of legendary business status – with an ico