SRV to develop new HQ for Siemens Finland

Finnish construction group SRV is joining forces with investor Sato and pension fund Ilmarinen to redevelop the Perkkaa suburb of Espoo after acquiring the site and head office of Siemens' Finnish arm for an undisclosed amount. The Kiinteistö Oy Perkkaantalo joint venture company plans to develop a new green neighborhood on the area, in partnership with the city of Espoo.

Furthermore, SRV will build a new environmental-friendly headquarters for Siemens in a nearby site, with the aim of obtaining the Leed Gold environmental certificate. The new property will be developed as part of the 19,000 m² Derby business park located in Vermonsolmu, Perkkaa. Siemens will remain in the current office premises as a tenant until the new office is completed by August 2014 at the latest.

'Siemens offers sustainable solutions for power production, transmission and distribution as well as energy efficient solutions for industry and buildings. Therefore we must also walk the walk and show a good example. This is why sustainable offices are very important to us,' said Siemens Osakeyhtiö CEO Martti Kohtanen.

'Energy efficiency is important and its importance is growing in property investments,' said SRV's CEO Jukka Hienonen.

Earlier this week SRV announced it has started construction of the 140,000 m² Pearl Plaza shopping centre in St Petersburg. The development represents a joint venture with Chinese investor Shanghai Industrial Investment. 'There is demand for new shopping malls in St Petersburg, because the existing supply is still far from the demand level in European cities,' said Jukka Hienonen, CEO of SRV Group.

Pearl Plaza is part of the Baltic Pearl development project expected to house 35,000 inhabitants in the South-Western edge of St Petersburg. The retail complex, to be built in two phases, will include an 8,000 m² hypermarket, a 5,000 m² fitness area, a 4,000 m² multiplex, a hotel and 1,900 parking places. Phase I is expected to be completed by 2012.