Lemminkainen sells EUR 200m worth of real estate in Finland

Helsinki-listed construction firm Lemminkainen has said that its subsidiaries sold 21 real estate properties worth about EUR 200 mln to Finnish real estate investors at the turn of the year.

In a regulatory statement last week, Lemminkainen said the assets included completed and unfinished shopping centres as well as commercial and office buildings in different parts of Finland. Just over half the deals related to properties that are still under construction. The buildings are due for completion in 2009-2010.

Lemminkainen managing director Juha Nurmi commented: 'Interest of foreign investors in Finnish real estate properties has declined due to the international economic and financial crisis. These new deals prove that traditional domestic institutions and private investors continue to invest in good real estate properties.'