Daily Newsletter

15 November 2023

Daily Newsletter

15 November 2023

NCC contracted for Helsinki National Museum renovation

The building was built in the early 1900s and has not been renovated since 2000.

vishnupriya November 15 2023

Finnish state-owned real estate company Senate Properties has signed a contract with Swedish construction company NCC for the renovation of Finland’s National Museum in Helsinki.

The order carries a value of approximately Skr320m ($30.35m).

It is said to be the largest construction project in the museum’s century-long history and will provide additional space for expanding museum operations.

The companies have been working on the project’s planning and construction documentation since June 2023.

The scope of NCC’s works covers the renovation of the roof and site facades along with the replacement of ventilation systems at the property.

The museum’s inner courtyard will also be enclosed with a glass roof.

A total of 12,000m² will be repaired as part of the project.

The building was originally built in the early 1900s and has not been updated since 2000.

NCC Building Nordics head Catarina Molén-Runnäs said: “The building is old, and one of Finland’s most famous.

“Preserving and respecting the building’s architectural value is one of the top priorities in the work on this project, both in the planning phase and during the renovation itself.

“At the same time, we are going to adapt the building to future needs, reusing where we can and making the building as energy efficient as possible.”

Construction work will begin immediately and is set for completion in 2026.

NCC will record this order in its fourth-quarter 2023 bookings under its NCC Building Nordics business segment.

Saudi Arabia construction market dynamics

Per GlobalData, between 2024 and 2027, the Saudi Arabian construction industry is projected to register an AAGR of 5% in real terms, supported by investments in various sectors such as data centers, logistics zones, renewable energy, housing, and tourism projects as part of the Kingdom’s ‘Vision 2030’ economic diversification plan. Construction activity in the energy and utilities sector is estimated to grow at an AAGR of 5.6%, supported by the government’s aim to increase the renewable energy capacity and achieving zero net carbon emissions by 2060.

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