Skanska has acquired approximately 6,300 square meters of land in Helsinki, Finland, from Senate Properties. The investment amounts to EUR 20M, about SEK 210M.

Skanska is developing a property in a vibrant neighborhood near Helsinki city center. The property combines office spaces, apartments, and commercial premises. The valid zoning plan of the property encompasses 16,710 square meters of building rights for commercial development and 5,340 square meters for residential development.

Skanska and Anttinen Oiva Arkkitehdit won a design competition for the project in 2019, organized by Senate Properties, the City of Helsinki and the Finnish Association of Architects (SAFA). The new zoning plan is based on the winning proposal.

Construction is estimated to begin in the third quarter of 2023 and will be completed in 2026.