The property is located adjacent to the Otaniemi University campus in Espoo. Some parts of the existing building, which was constructed in the 1970s, are subject to listed building requirements. On its completion, the property will feature office and retail premises.

The project comprises a total of approximately 19,500 square meters, of which approx. 15,000 square meters will be newly constructed space and 5,000 square meters redeveloped space. The assignment also includes the demolition of one building and the construction of an underground garage. A development and planning phase that lasted about a year preceded the agreement.

"Our task here is both to preserve a building of cultural and historical importance, and to build new premises. This requires careful craftsmanship and solid experience. We look forward to realizing our shared vision together with HGR," says Catarina Molén-Runnäs, Head of NCC Building Nordics.

"Over the past few years, we have worked in close dialogue with tenants, authorities, designers and NCC as a main contractor, to create a modern and user-oriented office property. Launching the project in this market situation signals that there is still a demand for high-quality projects, tailored to the needs of the user. This is an excellent example of good early-stage collaboration," says Veli-Matti Salonen, Senior Director Construction, HGR Property Partners.

Construction will commence immediately, and completion is scheduled for the end of 2026. The order is valued at approximately SEK 500 million and will be registered in the second quarter of 2025 in the NCC Building Nordics business area.