Airport area taking off
The growth of Helsinki Airport area is causing an increasing demand for real estate to support the larger scale of operations. With the aim to develop the existing and future real estate infrastructure in the area, NREP entered a partnership with Pontos Oy in 2018, and today, we own the majority share of LAK Real Estate Oy, which previously was a fully owned subsidiary of Finavia.
LAK Real Estate Oy currently have control over large areas at the airport and in the Aviapolis area to develop further. The properties include the Hilton Hotel, the multi-functional centre “TOKE”, and the WTC office tower which are located at the airport.
Supporting the growth of aviapolis area
There are currently about 20,000 jobs in the Helsinki-Vantaa airport area and the number is estimated to grow further. We aim to develop different commercial premises such as hotels, offices, and logistic spaces around the area.
Aviapolis is also a strategic development target for the City of Vantaa, and NREP’s involvement with LAK Real Estate will bring significant new resources and capital to the development of the region.
The long-term plan for Aviapolis includes developing more than 200,000 square metres of residential, office, and service property over the next decades.
The Avia City will hold approximately 6,400 square metres of leasable office space and housing for approximately 2,000 residents. In addition, the plans include a commercial centre to support the daily demands of the residents and new facilities to allow LAK to better respond to the growing office and parking demands of the airport area.
Project type: Urban development
Location: Helsinki airport and Aviapolis area
Future plans: The long-term plan for Aviapolis includes developing more than 200,000 square metres of residential, office, and service property over the next decades.
“Aviapolis is a unique, international airport city. Its location has made it one of the fastest-growing business areas in the Helsinki region. We are excited about the opportunity to become an owner and developer of the dynamic airport area.”