SRV to Construct 49 Rental Units in Espoo for ICECAPITAL Fund
SRV has secured a EUR 12.3 million contract to develop 49 rental units in Vermonniitty, Espoo, set to begin in May 2026 and complete by summer 2027. This project aligns with SRV's strategy to enhance housing construction revenue and is part of ICECAPITAL's housing fund focused on the Helsinki Metropolitan Area.
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SRV has signed a EUR 12.3 million agreement with ICECAPITAL Housing Fund VII Ky to construct 49 rental units in Vermonniitty, Espoo. Construction is slated to commence in May 2026, with completion expected in summer 2027.
SRV aims to increase its housing construction volume, having previously developed multiple projects in the Vermonniitty area. The Piaffe building will utilize a lifecycle-wise approach, meeting Energy Class A standards and incorporating renewable energy sources, including solar panels and geothermal heating.
The complex will feature a diverse courtyard aimed at fostering community activities. This investment comes as the rental housing market shows signs of recovery in the Helsinki area, suggesting a potential reduction in oversupply.
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