Senate Properties and SATO Corporation close property deal on block area of residential apartment buildings to be constructed in Viikki, Helsinki

7 March 2024

On 7 March 2024, Senate Properties and SATO Corporation signed the final contract on a property transaction concerning an upcoming block area of residential buildings in the Viikki district of Helsinki. The local detailed plan concerning the block area was confirmed on 1 February 2024.

Located at Maakaarenkuja 2, the 9,400 sqm plot has residential building rights for 18,360 sqm of gross floor area, enabling the construction of around 300–350 new homes in Viikki.

“Now that the land use plan has been confirmed, we were able to sign the final contract on the property transaction and can start implementing the block. Once completed, this residential block and its new residents will increase the vitality of the Viikki district and will also create conditions for the future development of the area. A big thank you to SATO for excellent cooperation and the best of success for the coming project,” says Senate Properties Property Development Manager Janne Marttinen.

“Our Viikki project is now taking a step forward and we’re now looking for partners for planning and design of the upcoming construction project. Cooperation with Senate Properties and the City of Helsinki during the land use planning process was smooth, and a mutual understanding was found for aspects that required changes,” says SATO Executive Vice President Arto Aalto.

Light rail line makes Viikki even more attractive as residential district

As a residential district as well as a campus area for work and studies, Viikki is a unique district in the Helsinki region. It is a mix of modern homes, farmed fields and forests greatly appreciated by current residents. The nature values of the area will remain part of the district’s development in the coming decades, too.

Viikki’s construction started in the 1990s, and the new local master plan and the light rail line launched the next development phase extending well into the 2030s. New homes and services are planned for around 7,000 residents, with the expansion of the campus area also being planned. With the now approved plan, it will be possible to build modern and diverse rental and owner-occupied homes suitable in terms of their size and location for families and students alike.

As a residential area, Viikki has benefitted from the completion of the Jokeri Light Rail line. Jokeri Light Rail and the planned ViiMA Light Rail are significantly transforming Viikki’s position in the urban structure as part of the urban network city with excellent transport connections, which in turn enables major increases in housing, workplaces and services. The local landscape with farmed fields and nature sites provides a pleasant environment for housing, work, research and leisure activities.

Viikki Science Park and Eco-Viikki are strong elements of Viikki’s identity

The Viikki Science Park houses the Helsinki University Faculties for Biological and Environmental Sciences, Agriculture and Forestry, Pharmacy and Veterinary Medicine, providing an inspiring environment for students and researchers. The Finnish Environment Institute, Natural Resources Institute Finland and Finnish Food Authority are also based in the area.

Eco-Viikki is Finland’s first ecologically designed urban district focusing on sustainable, healthy and modifiable housing. These principles will be followed in the planning and design of the area in the future, too. Viikki’s recreational areas form an important part of Helsinki’s network of green spaces spanning from Vanhankaupunginlahti Nature Reserve all the way to Vantaa and Sipoonkorpi National Park.

Senate Properties owns extensive land areas in the Viikki and Latokartano districts that will be developed with a view to being sold in the future. According to the Central Government Real Estate Strategy, the State will divest real estate that it no longer requires and release the capital employed in ownership for society’s other needs.

For more information, please contact:

Janne Marttinen, Property Development Manager, Senate Properties, firstname.lastname(@), phone + 358 40 867 4667

Arto Aalto, Executive Vice President, Investments, SATO Corporation, firstname.lastname(@), phone +358 20 134 4392