S-Bank Housing non-UCITS Fund, managed by S-Bank Fund Management Ltd, has sold a prime residential development property in Niittykumpu, Espoo, to SRV Rakennus Oy. The transaction was facilitated by JLL.
The property, located adjacent to the Niittykumpu subway station and surrounded by excellent daily services, offers the potential to construct approximately 4,000 square meters of leasable, non-subsidized residential space. This acquisition aligns with SRV’s strategic objective to increase the share of housing construction in its turnover to 30-40%.
SRV has been a key developer in the Niittykumpu area, contributing to its transformation into a vibrant urban hub. In addition to residential projects like Niittykummun Neuvokas, currently in pre-marketing, and the construction of 128 residential units for Varma in the same block, SRV also developed the Niitty shopping center. The mall, located directly at the Niittykumpu metro station, serves as a central hub for shopping and services in the area.
This latest transaction highlights SRV’s ongoing commitment to the development of Niittykumpu and its strategic focus on residential construction.
JLL acted as the advisor to S-Bank in this transaction.