OFFPLAN NEWS

(28.06.2007 )
Finland real estate Construction of Finland commercial properties increased

The total return on the Finnish property market amounted to 10.1% in 2006, consisting of an income return of 6.9% and a capital growth of 3.1%. Retail was the best performing sector with a clear margin because of the strong capital growth, ie 6.2%, which increased the total return to 14.2%. Returns on offices also increased clearly compared with the previous year, ie to 8.6%.

The construction of retail and office properties increased clearly in 2006 compared with the previous year measured by building starts. On the other hand, construction of residential dwellings decreased by 3%.

Major transactions
Sponda sold a portfolio of 43 investment properties and most the former Kapiteeli sales portfolio to Whitehall Street Real Estate Fund and Niam Nordic Investment Fund III for EUR 402 million. The deal is part of Sponda's strategy to refinance part of the short-term credit it raised for the Kapiteeli acquisition. The investment is Whitehall's first in Finland.
Sponda will continue managing the portfolio.

Northern European Properties (NEPR) expands its Nordic portfolio through acquiring properties from London & Regional Group. The Finnish portfolio consists of four hotel buildings, and was worth EUR 50.8 million. The yield on purchase price is 6.5%. The Swedish portfolio comprises 12 logistics and industrial properties, and, together with one property in both Poland and Germany, is worth EUR 84 million.

The City of Espoo sold a 14,000 sqm lot with a building right of 20,000 sqm in Espoo center to YIT. The shopping center is scheduled to be completed for Christmas 2008. The center will be concentrating in fashion and clothes, but will also comprise some facilities
for public services.

Finnish Property Monthly is an electronic news bulletin listing the major happenings in the Finnish property market. The bulletin is published by KTI Finland which is an independent research organization and service company providing information and research services for the Finnish real estate industry.

News by Country

»(28.06.2007 ) Finland property Active year in Finland real estate property transactions
In year 2006 Catella served as an advisor in Finland real estate deals worth over 900 MEUR.... » find out more

»(28.06.2007 ) Finnish properties Helsinki Region the fastest growing area in Finland
Attractive to both domestic and foreign investors land for sale in Finland, the Helsinki Region is the fastest growing area in Finland.... » find out more

»(28.06.2007 ) Property in Finland One of the best places for investment: Finland
Finland is one of the regions in Europe with the strongest growth. At present about 1.2 million people live in Helsinki and its surrounding areas; this figure is expected to rise to 1.3 million by the year 2020.... » find out more

»(28.06.2007 ) Property in Finland Foreign-owned companies increasingly operate in Finland
A recent survey shows that foreign-owned companies increasingly operate in Finland to serve the Finnish real estate and surrounding markets and their short-term expansion plans are centred round Russia, the Baltic countries and Central Europe. ... » find out more

»(28.06.2007 ) Property Finland Aberdeen's Finland property fund bought 4 properties
Aberdeen Property Fund Finland I Ky, a property fund launched by Aberdeen Property Investors Finland Oy has signed an agreement to purchase four real estate Finland Pension Fund of Valio (Valion Eläkekassa). ... » find out more

»(28.06.2007 ) Finnish property Finnish Citycon to Acquire Tumba Centrum Stockholm
Today, Citycon a leader on the property in Finland market signed an agreement to buy all Tumba Centrumfastighets AB shares from Doughty Hanson & Co for SEK 550 million (around EUR 60.8 million). ... » find out more

»(28.06.2007 ) Finnish real estate Citycon to Build a New Retail Centre in Lentola Finland
Citycon reached today an agreement with Skanska to build a new property Finland retail centre in Lentola, Kangasala, some 13 kilometres from downtown Tampere.... » find out more

»(28.06.2007 ) Finland real estate Construction of Finland commercial properties increased
The total return on the Finnish property market amounted to 10.1% in 2006, consisting of an income return of 6.9% and a capital growth of 3.1%.... » find out more

»(28.06.2007 ) Real estate in Finland International interest in Helsinki Region Finland
The key cities in Finland's capital region - Helsinki, Espoo, Vantaa and Kauniainen together with Uusimaa Regional Council - have set up a new company in the Helsinki Metropolitan area,... » find out more

»(28.06.2007 ) Real estate Finland HGR Property Partners acquires Unilever’s Finnish headquarters
In its first acquisition without a majority equity investing partner, HGR Property Finland Partners Oy has acquired Unilever Finland’s headquarters on Sturenkatu 21 in Vallilla, Helsinki.... » find out more