LEMMINKÄINEN CORPORATION PRESS RELEASE 27.12.2011 at 12.00 a.m.
LEMMINKÄINEN RENOVATES BUSINESS PREMISES IN HELSINKI
Lemminkäinen is renovating an office building in Ruoholahti, Helsinki, at the address Porkkalankatu 5. The owner of the property is Aberdeen Real Estate Fund Finland LP, which is managed by Aberdeen Asset Management. The contract was ordered by the property holding company Porkkalankatu 5. The parties have agreed not to disclose the contract value.
The total area of the office building to be renovated is 11,000 brm². Activities on-site will begin during this year and the project will be completed in September 2012.
"The number of renovations of 1980's office buildings to meet modern requirements is on the rise. Renewed technical building services and space and planning arrangements, as well as an enhanced exterior appearance give the desired results," says Director Kalevi Stenman, Lemminkäinen.
The Aberdeen Real Estate Fund Finland LP is a closed-ended, value-added fund customised for three institutional investors, namely Ilmarinen Mutual Pension Insurance Company Finland, ABP (the Netherlands) and ATP (Denmark). The fund's property portfolio is approximately 490 million euros.
Kalevi Stenman, Director, Renovation
Lemminkäinen Talo Oy
Tel. 02071 53264
Sanna Sianoja, Asset manager
Aberdeen Asset Management
Tel. +358 10 3040 426
NASDAQ OMX Helsinki Ltd
Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are building construction, infrastructure construction and technical building services. From the beginning of 2012, international operations will become Lemminkäinen's fourth business sector. Net sales in 2010 were about EUR 2.0 billion, of which international operations accounted for roughly a quarter. The Group employs an average of 8,000 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com