SRV and the City of Helsinki’s housing production service have signed an agreement to construct a new residential block in Nihti, part of Kalasatama, Finland.

The residential block will include a mix of 41 Hitas owner-occupied and 84 rental apartments, along with a parking facility and a single commercial unit. 

The development will be situated near the sea. 

SRV Housing Helsinki metropolitan area senior vice-president Jorma Seppä said: “Winning the competition to become the contractor for this project is an example of SRV’s cost-competitiveness in housing construction in a challenging market environment.  

“This project is an excellent continuation of our other projects in Kalasatama, where SRV has been highly involved in development. In addition to our own housing production, we are implementing a variety of other housing projects, such as ARA-funded rental housing for the City of Helsinki.” 

SRV plans to incorporate eco-friendly energy solutions into the construction of the residential block.  

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By GlobalData

Construction is set to begin in March 2024, with completion anticipated in 2025.  

The €30m ($32.25m) project will be reflected in SRV’s order backlog for this month. SRV’s order book surpassed €1bn at the end of the previous year.  

City of Helsinki housing production service housing production unit manager Merja Rukko said: “Housing production services take an energy-wise approach on its newest sites by using geothermal heating systems and solar panels. 

“In the Kalasatama area, several housing production service sites are being built for rental, right-of-occupancy and ownership use.” 

Earlier this month, SRV and others jointly signed a contract

The contract is for the second phase of infrastructure works on the Laakso joint hospital project in the country.