YIT, Keva and the City of Helsinki to continue joint development of the Maria area – local detailed plan confirmed

YIT Corporation Press Release 11 January 2023 at 2 p.m. 

YIT and Keva will continue the development of the Maria area, together with the City of Helsinki, with the local detailed plan now confirmed. The most significant part of the newbuilding construction of Maria has been planned in the southern part of the old hospital campus, where YIT and Keva have a shared planning reservation. The plan allows the construction of a new growth and technology company block of approximately 50,000 square metres of floor area. 

A significant start-up and growth company campus is planned for the former Maria hospital campus, and it will also features services open to the city’s residents. The City of Helsinki aims to start the construction of the Maria campus during 2023 with preconstruction, street and demolition work. The area being built will see new municipal engineering and preparations for building a new pedestrian bridge among other things. With regard to the area developed by YIT and Keva, the aim is to start the construction of the first phase in early 2024. 

A significant part of the new building complex will be flexible office and meeting spaces, focusing on start-up and growth companies. Furthermore, the expansion will feature accommodation, restaurants, retail and service space, well-being and sports facilities as well as event spaces. Following the expansion, the campus will feature space for hundreds of tenants and an estimated 5,000 employees.

“The Maria area is one of Europe’s biggest growth company campuses, and we aim to develop it into an internationally significant home of start-ups, growth companies and partner companies. The location in the very centre of Helsinki is excellent. The project has attracted major interest among potential tenants throughout the development, and we aim to find a mutually supplementary group of companies as tenants,” says Juha Kostiainen, Executive Vice President, Sustainable Urban Development at YIT. 

“It is great that we are able to continue to develop the area together. It is significant in many ways and offers opportunities to create a diverse area that is part of the city's everyday life," says Calle Roselius, Head of Real Estate Investments at Keva. 

Further reading:
Local detailed plan area and materials relating to the preparation
The development of the Maria area | YIT.fi 
The consortium operated by YIT and Keva has been chosen as the developer for the extension of a growth company campus in Helsinki, Finland | YITGROUP.COM

Further information:
Jarkko Ilkka, Director, Head of Property and Land Development, YIT, tel. +358 40 519 0174, jarkko.ilkka@yit.fi
Calle Roselius, Head of Real Estate Investments, KEVA, tel. +358 500 417 997, carl-henrik.roselius@keva.fi
Tuomo Sipilä, Project Director, City of Helsinki, tel. +358 9 310 34249, tuomo.sipila@hel.fi
Kristina Broman, Communications Manager, YIT, tel. +358 40 840 3166, kristina.broman@yit.fi 

YIT is the largest Finnish and a significant North European development and construction company. For 110 years, we have been creating better living environments for our customers: functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for smoother flow of people, businesses and society. We employ 5,500 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2021 was EUR 2.7 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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