The second phase of the Laakso joint hospital's infrastructure works starts accumulating SRV's order backlog by EUR 101 million

SRV GROUP PLC                          INVESTOR NEWS                        1 FEBRUARY  2024, 10.30 EET

The second phase of the Laakso joint hospital's infrastructure works starts accumulating SRV's order backlog by EUR 101 million

SRV, Kiinteistöosakeyhtiö Laakson yhteissairaala (real estate company), the Laakson LATU consortium, the Unitas consortium and Granlund have signed an order for the second phase of infrastructure works of Laakso joint hospital. The order is valued at approximately EUR 109 million, of which SRV's share is EUR 101 million. The order will be recognised in SRV's order backlog for February 2024 and it will further strengthen SRV's order book, the value of which exceeded one billion euros at the end of last year. The work starts immediately.

The order is part of the approximately EUR 800 million contract for the Laakso joint hospital project, which will be recognised in SRV’s order backlog as orders for the phases are placed from 2022 to 2030. The project will not tie up any of SRV’s capital. The project is one of the similar cooperational business premises construction projects that have transferred in SRV's growing order backlog after a development phase. Similar public projects are among others the Annex of the National Museum in Helsinki and the Sammontalo multi-purpose building being implemented in Lappeenranta.

The infrastructure works of the Laakso joint hospital are currently the most significant project of SRV's infrastructure construction

The infrastructure works order signed now includes the concrete structure and equipment of the underground facilities excavated and built in the first phase, as well as building engineering works.

“The first implementation phase of the infrastructure works has progressed as planned on the site, while the second phase has been carefully prepared and developed. With careful ground work, we wanted to ensure the success of the demanding infrastructure work phase during the implementation phase,” says Ossi Inkilä, project manager of Laakso Joint Hospital Alliance and SRV’s Unit Director, Business Premises, Helsinki Metropolitan Area. 

“During the development phase of the infrastructure works, together with the alliance partners, the best solutions have been carefully sought to meet the qualitative and financial goals. At the same time, other sub-projects of the project have also been developed as the cooperation is going excellently,” says Marko Virtanen, Managing Director of the Kiinteistöosakeyhtiö Laakson yhteissairaala real estate company.  

Waste sorting rate of nearly 99% on the site

The waste arising on the construction site will also be sorted in a way that promotes reuse on-site, and materials will be recycled as much as possible. At present, nearly 99% of the construction site waste is sorted. This is an exceptionally good result, as the threshold in the EU Taxonomy is 70%.

SRV issued a stock exchange release in April 2021 to announce the signing of an alliance agreement. The release estimated the project value at EUR 730 million. As the costs have increased since the time when the customer's first cost estimates have been completed, the value of the project for SRV is now approximately EUR 800 million.

For further information, please contact:

Ossi Inkilä, Project Manager of Laakso Joint Hospital Alliance and Unit Director, Business Premises, Helsinki Metropolitan Area, SRV, tel. +358 (0)40 708 2253, ossi.inkila@srv.fi

Heli Pulkkinen, Communications Specialist, SRV, tel. +358 (0)50 411 0787, heli.pulkkinen@srv.fi

Marko Virtanen, Managing Director, Kiinteistöosakeyhtiö Laakson yhteissairaala real estate company, tel. +358 (0)40 139 4300, ext-marko.virtanen@hus.fi

Sari Korolainen, Communications Manager, Kiinteistöosakeyhtiö Laakson yhteissairaala, tel. +358 (0)40 841 3600, ext-sari.korolainen@hus.fi

Further information about the project: https://laaksonyhteissairaala.fi/

Client: Kiinteistöosakeyhtiö Laakson yhteissairaala (City of Helsinki and HUS)

Prime contractor: SRV

Main and architectural design: Laakson LATU (Arkkitehtitoimisto Tähti-Set, AW2-Architects, Lukkaroinen Architects and UKI Arkkitehdit)

Structural, geological and rock engineering: Unitas (AFRY Finland, A-Insinöörit)

HVAC, electrical and automation design: Granlund

Images used in the bulletin: Laakson LATU (Arkkitehtitoimisto Tähti-Set, AW2-Architects, Lukkaroinen Architects and UKI Arkkitehdit) and Destia

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SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the wellbeing of both the environment and people into consideration. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter – and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

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