NCC to add 5 office buildings to Finnish business park

The Finnish arm of Swedish property builder NCC Property Development has announced the launch of the third phase of development for the Plaza business park in Vantaa, Finland. The company said it will develop a further five office buildings and a car park on the site, which currently comprises eight properties.

Plaza is 'one of the most significant construction projects in the Helsinki Metropolitan Area', NCC said. The developer started construction on the site in 2000, delivering the first phase in 2002 and the second phase earlier this year. When completed, Plaza will comprise a total of 13 office buildings, becoming one of the largest business parks in Europe, the company added.

NCC noted that the third stage of Plaza will be the first commercial project in Finland complying with Class A energy requirements. 'In the future, NCC aims to design all its developer-contracted facility projects in accordance with the Class A energy efficiency', said NCC's Reijo Päärni. The first office building - Pilke - is expected to be completed in the beginning of 2011.

In March this year NCC sold Rondo, the eighth office property in the business park, to the Finnish trade unions Paperiliitto, Metallityöväen Liitto and Palkansaajasäätiö while last year it disposed of the Vivace and Largo buildings to SEB Immobilien-Investment and Pohjola Kiinteistösijoitus' Real Estate Fund Finland I respectively.