Monday, 9 November 2026
Skanska has announced an investment of €21 million, approximately SEK 230 million, in a residential development in Helsinki, Finland. The project will provide 50 apartments, with construction scheduled to begin during the final quarter of 2026.
The investment represents an average of approximately €420,000 per apartment, although this figure reflects the total announced project investment rather than the expected selling price of individual homes. Skanska has not disclosed the apartment sizes, sales prices or detailed breakdown of development costs.
The residential building is planned to meet Finland’s highest energy-efficiency classification. The development will also seek certification under the Finnish YL Environmental Classification, a system used to assess the environmental performance of buildings.
Part of the roof will incorporate vegetation, adding a landscaped element to the development. Green roofs can contribute to rainwater management and provide additional planted surfaces in urban environments, although Skanska has not disclosed the size of the planned installation or quantified its expected environmental benefits.
Construction is expected to commence in the fourth quarter of 2026, with completion scheduled for the second quarter of 2028. The planned development period is therefore approximately 18 to 21 months, depending on the precise commencement and handover dates.
The project adds to Helsinki’s future residential supply at a time when developers across European markets are assessing construction costs, financing conditions and household purchasing power. However, the announcement does not provide sufficient information to establish the project’s expected profitability or the level of buyer demand.
Skanska has not identified the precise location within Helsinki, the intended apartment mix or whether the homes will be offered for sale or retained as rental accommodation. These details will be relevant to assessing the development’s position within the local housing market.
The investment provides a further example of residential construction incorporating energy-performance requirements into the initial development plans. Subject to the announced timetable, the 50 apartments are expected to be completed during the first half of 2028.
