Finland. Kiinteistö Oy Biomedicum Helsinki
| Date of agreement: | 09 Apr 2025 |
|---|---|
| Country: | Finland |
| Customer: | Kiinteistö Oy Biomedicum Helsinki |
| Amount in EUR: | EUR 8 million |
| Maturity: | 10.5 years |
Project
The loan has been granted to Kiinteistö Oy Biomedicum Helsinki to finance the refurbishment of a building dedicated to research and education.
Originally constructed in 2001, the facility for medical education and research is undergoing a comprehensive renovation to bring it up to modern standards. The refurbishment began in 2023 and is scheduled for completion in spring 2026. Once completed, the building’s energy consumption is expected to decrease by 60%. A key feature of the renovation is a new energy recycling system, which is anticipated to significantly reduce reliance on district heating.
Kiinteistö Oy Biomedicum Helsinki is a mutual real estate company that owns the buildings of the research and educational facility located in Meilahti, Helsinki. The company is responsible for executing construction projects, building maintenance, and real estate management. Its principal shareholders are the University of Helsinki Funds, the Joint Authority for the Hospital District of Helsinki (HUS), and the City of Helsinki.
Fulfilment of NIB's mandate
Productivity:
The project is expected to substantially reduce the building’s energy costs. Savings in energy costs could potentially result in lower rents for the tenants, including the University of Helsinki and other entities in the research and healthcare sectors.
Environment:
The project focuses on improving the energy efficiency of Biomedicum 1 in Helsinki. The renovation is expected to reduce the building’s energy use by 60%.
Sustainability summary
The energy efficiency upgrades at Biomedicum 1 will be achieved through the installation of heat recovery systems and air- and water-based heat pumps, effectively enabling the building to operate independently of district heating. All heating and cooling systems, as well as the building’s automation systems, will be fully replaced.
The refurbishment is being carried out in a way that allows the building to remain operational throughout the renovation. The project is expected to be completed by summer 2026.
