Nrep announces €130M Helsinki housing project

Nordic property developer Nrep is embarking on a major new residential construction project worth over €130 million in eastern Helsinki’s Kalasatama (Fish Harbour) district.

In February, Nrep signed a preliminary land acquisition agreement in the Lånholmen area. The development will comprise four multi-family buildings with over 350 apartments – 150 condominium units and 200 rental units.

The attractive seaside location is within walking distance of a metro station and the Redi shopping center. Public transit will be further enhanced by the new tram line 13 between Kalasatama and Mårtensdal.

“Despite a challenging market situation, we are very pleased with the project’s progress. Our goal is to develop sustainable and modern living environments,” said Joonas Lemström, Nrep’s Finland CEO.

Architectural Competition

An architectural competition has been launched in cooperation with the City of Helsinki and the Finnish Association of Architects to find high-quality design solutions. A key focus is energy efficiency and low carbon emissions. A jury will select the winner in April 2025 from four submitted proposals.

“We want to develop a project that meets customer needs and demands, while fulfilling high urban planning requirements,” said Juha-Matti Varjonen, Nrep’s Development Manager.