FORTUM CORPORATION PRESS RELEASE 31 October 2017
Fortum and Fortum’s Pension Fund will sell Fortum’s current head office campus
in Keilaniemi, Espoo, to Regenero Oy. The transaction includes the head office
buildings and the plots.
Fortum announced earlier this year that the company’s head office will move at
the turn of 2017-2018 to a refurbished multi-space office in Keilaniemi, Espoo.
In addition to Fortum, the new head office building will house Tieto Oyj and
Microsoft Oy. At the same time the company also announced that it was reviewing
the continuation of its current head office. The primary alternative was to
sell the building.
“We are pleased to have reached this point in the project. The new owner can
now start the work to develop the iconic high-rise and the surrounding area. We
will focus on our core business and will move into premises in Espoo that will
better accommodate our current operations,” notes Risto Penttinen, Senior Vice
President, Strategy, People and Performance, Fortum.
“Regenero’s goal is to develop the entire Keilaniemi area. With the real estate
acquisition, Regenero can create a sustainable, multi-use urban environment
close to excellent public transportation services that are continuing to
develop with the Western Metro Extension,” says Juha Kostiainen, Chairman of
Regenero’s Board of Directors.
“Fortum’s head office move is part of a broader corporate culture change, which
will strengthen innovativeness and support open interaction between employees
and a modern management approach. Our intention is to get the best possible
benefit from new technologies in our daily work. We also want to promote the
work wellbeing of our personnel by offering an inspiring working environment
and the opportunity for flexible working,” says Risto Penttinen.
The value of the transaction is about EUR 74 million. Fortum will record the
profit from the sale in its first-quarter 2018 financial result.
Ville Halonen, Vice President, Corporate Procurement and Real Estate, Fortum,
tel. +358 40 832 4489
Juha Kostiainen, Senior Vice President, Sustainable Urban Development, YIT
Corporation, tel. +358 400 721 475, juha [dot] kostiainen [at] yit [dot] fi
Additional information about Fortum’s move:
Press Release 3 April 2017: Fortum's head office in Keilaniemi, Espoo, will move
Fortum is a leading clean-energy company that provides its customers with
electricity, heating and cooling as well as smart solutions to improve resource
efficiency. We want to engage our customers and society to join the change for
a cleaner world. We employ some 9,000 professionals in the Nordic and Baltic
countries, Russia, Poland and India, and 62% of our electricity generation is
CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum’s share is listed on
Regenero is a joint venture formed by YIT and HGR Property Partners founded in
2016 to further deepen the collaboration of the parties and to prepare the
companies for future growth. The development projects of Regenero focus on
properties in key urban locations, aim at increasing the profile of the area
and they are implemented with long-term experience and expertise. The projects
to be implemented are of considerable size and can include various types of
premises such as office and retail as well as public premises.