Swedish construction company Skanska has received a contract from Union Investment to construct rental apartments in Helsinki, Finland.

The contract, worth €68m, will be included in the company’s Nordic order bookings for the fourth quarter of this year.

The 33-storey building totalling around 18,400m2 will feature 288 rental apartments. It will also include rooftop solar panels, which will provide electricity to the property.

Construction work on the project is planned to commence this month with completion scheduled by the fourth quarter of 2024.

In a separate development, the company announced plans to invest €36m in a residential development project in Oulu, Finland.

The project will be a 16-storey building, which will feature 94 apartments, parking places and rooftop solar panels to generate some electricity used by the property. It will also include storage and maintenance facilities for bikes.

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By GlobalData

Skanska noted that the building will be constructed to achieve a RTS Environmental Classification.

Construction of the new residential development project is anticipated to be completed in the third quarter of 2023.

The company also unveiled plans to make an investment of €26m for the development of a residential building in Helsinki, Finland.

The residential development project will comprise 74 apartments and parking places to accommodate charging electric cars.

Solar panels will also be installed on the rooftop of the building to produce some of the electricity which will utilised by the property.

Furthermore, the project will be construction with an aim to achieve a RTS Environmental Classification.

Construction work on the residential building is expected to be completed in the fourth quarter of 2023.


Rendering of the new rental apartments in Helsinki, Finland. Credit: B&M Architects/ Skanska.