NREP has awarded a contract worth about $61.6m (SEK615m) to Swedish construction firm NCC to build 526 rental apartments in Turku, Finland.
The new apartments will be constructed across five buildings and represents NREP’s largest project in the city.
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NCC’s scope of work under the contract involves construction of an underground parking garage as well as courtyard.
Renewable energy sources like solar panels and a downhole heat exchanger will be installed to provide some of the electricity and to heat the buildings.
The construction company stated that the new project will be developed to achieve LEED Platinum and qualify for energy efficiency class A.
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The new apartments mark the start of a new residential area in Turku.
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By GlobalDataEarth and groundworks on the project site are scheduled to begin this month with the first buildings planned to be completed in January 2024.
NREP partner and director Petri Valkama said: “We have set ambitious climate targets for our property portfolio and the apartments that will now be built in Turku will be carbon neutral.
“The achievement of these targets will also require a great deal from our partners. NCC can manage complex construction projects and shares our view of sustainable construction.”
In a separate development, NCC secured a $35.079m (SEK350m) contract from Riksbyggen to build 163 tenant-owned apartments in Stockholm, Sweden.
The new apartments will be constructed in Täby Park, north of Stockholm across three buildings comprising five to nine storeys.
The tenant-owned apartments will range from one-bedroom to four-bedroom units, along with a common underground garage with 72 parking spaces.
Additionally, NCC will build commercial premises, a guest apartment, a restaurant, and common area for residents.
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Rendering of the new rental apartments in Turku, Finland. Credit: Haroma & Partners/ NCC.
