Real estate developer SRV is set to start construction of an extension to Open Innovation House property in Otaniemi, Espoo, Finland, this month.

SRV’s share in the contract signed with special investment fund eQ Hoivakiinteistö (eQ), which owns the Open Innovation House property, stands at €25m.

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The Open Innovation House property is currently being used as the provisional Espoo school premises and Aalto University teaching facilities.

The company will extend the floor area by 8,600m2 to the property. Facilities for the new Espoo Courthouse will be housed in this extension.

Preparatory work at the site started in October last year. The project is expected to be completed by summer next year.

eQ real estate director Kimmo Alaharju said: “Otaniemi as a whole has seen vigorous development in recent years. The traditional university campus is being transformed into a diverse district with educational facilities, housing, offices and retail premises. We seek to cater to the needs of the evolving Otaniemi area and enrich its variety of functions.”

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Emphasising upon maintenance-free premises that are adaptable, users of the office premises will be able to modify the space as per their requirements.

The new premises will be built in a way to accommodate the new working methods because of digitilization.

Once constructed, the property will be carbon neutral and make use of geothermal energy and solar energy for heating and cooling.

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SRV to start construction of an extension to the Open Innovation House property in Otaniemi, Espoo. (Credit: SRV)