Finavia has signed a letter of intent with its partners for development of the airport area

Development Reports
Published
5.6.2017 - 10:38
A joint letter of intent has been signed by Finavia Corporation, the fund managed by the private equity firm NREP, and the private equity firm Pontos Group for developing certain properties near Helsinki Airport in a way that serves air traffic needs

Throughout the remainder of 2017, the parties will be working together to create ownership and financing solutions that enable the development of real estate that is currently owned by LAK Real Estate, a subsidiary of Finavia. Once implemented, the arrangement will have a number of effects, including speeding up development of the Aviapolis area.

“What is most important to Finavia is finding the best solution for developing real estate operations in a situation in which we are investing heavily in our core business – that is, Helsinki Airport – as the hub for international transit travel,” says Finavia Corporation’s CEO Kari Savolainen. Savolainen is also chair of the board of LAK Real Estate.

“A broader financing base and broader ownership arrangements would enable areas near the airport to be developed in a way that serves Finnish air traffic. The airport buildings and real estate related to the air operations transport remain in Finavia's ownership even after the ownership arrangements have been implemented", Savolainen adds.

The Helsinki Airport area, along with Aviapolis and its immediate surroundings, form a unique whole that continues to become larger and more attractive. The businesses operating in the area provide a total of 20,000 jobs, and this number is expected to increase. 

More information on developing the Helsinki Airport