Bonava has announced the commencement of production for an additional 150 housing units across the Baltics and Sweden and a 99 rental state-subsidised apartments project in Turku, Finland.
The plan includes 72 housing units in Latvia, 66 in Estonia, and 16 in Sweden. This expansion follows the successful reception of projects such as Hartmana Kvartals, Aiandi, and Fjärilshusen by customers.
In Finland, the company has sold the 99 rental state-subsidised apartments project in Turku to TA-Asumisoikeus, with the sale valued at approximately €20m ($21.6m).
TA-Asumisoikeus, part of the TA-Yhtymä Group and appointed by the Housing Finance and Development Centre of Finland, has established a rolling payment plan with Bonava. This financial arrangement ensures the project is funded from the outset.
Bonava said that the completion of the housing units in Finland is anticipated in the first quarter (Q1) of 2026.
Bonava president and chief executive officer Peter Wallin said: “The new neighbourhood will be constructed in one of Finland’s largest residential development districts, Kirstinpuisto, Turku, where we have previously built several projects and are very familiar with local conditions.”
The company plans to construct a total of 1,400 units in the Kirstinpuisto area, located within walking distance of Turku's city centre.
This initiative includes the start of construction on the eighth and ninth multifamily housing blocks in the region.
Bonava focuses on sustainable land use, resource efficiency via eco-friendly materials, and life cycle construction to cut emissions and climate impact in its activities.
The design of the Kirstinpuisto district is centred around sustainable development solutions, including high-quality public areas and green spaces. A particular focus is placed on sustainable groundwater management.
The production of all the new units will be reported in Q4 2024.
Bonava has also started construction on the first phase of the Seminariet housing project in Luthagen, near central Uppsala, Sweden, in July 2024.
The project comprises a total of 113 apartments, with the first 66 homes set for completion in the second half of 2026.
