Annual Review

Achieving many successes in the portfolio

Viru Keskus

Pontos sold its holdings in Viru Keskus to long-term co-investor

The highlight of the year for Pontos was signing an agreement to sell its holdings in Viru Keskus, Tallinn, to Estonian real estate investment companies Kapitel and Tristafan. Kapitel was a minority owner of Viru Keskus even before the sales. The transaction was completed in February 2024.

Learn more about Viru Keskus’ success story!
Learn more about Viru Keskus’ success story!
Ombria

Ombria opened golf course for players

In May, Ombria Algarve opened its 18-hole golf course for players. The course, which has been designed by Jorge Santana da Silva, highlights sustainability. The nature around the course has been integrated seamlessly into the playing experience, offering both challenges and a calm and beautiful environment.

The course has already received much recognition from players and other instances.

The players appreciate the course’s excellent condition, along with its details and gorgeous landscape. Four hole-in-ones were made on the course at the end of 2023.

In November, the course was recognized as one of Portugal’s best golf courses by expat lifestyle magazine Wherever. The review was carried out by Leading Courses, which is an independent golf forum.

According to The Times newspaper, among others, the demand for sustainability-focused golf courses has increased and Ombria is an example of a golf course that has been constructed in a modern, more sustainable style.

The course has also been GEO-certified for its environmental responsibility by the GEO Foundation.

Sustainability is highlighted on the course in several ways:

  • A special pumping system collects the rainwater and stores it in a lake, located at the 9th hole, designed for this purpose. This water is then used for watering and landscaping, which saves water and electricity.
  • Bermuda grass, which uses up to 25% less water compared to other grass types, has been planted on the fairways of the course.
  • Ombria uses soil moisture sensors to ensure that the grass is only watered when necessary. This helps to reduce water consumption.
  • The course has individual sprinklers instead of sprinkler pairs.
AVIA Real Estate

AVIA Real Estate invests 34 million euros in DHL’s logistics center at Helsinki airport area

In June, AVIA Real Estate decided to invest 34 million euros in DHL’s logistics center located in the Helsinki airport area. The new logistics center will operate as Finland’s main sorting center as part of the DHL Express global delivery network. All incoming and outgoing express shipments in Finland will go through the center. The logistics center will include 150 employees, with the number expected to increase by dozens in the future.

Particular attention has been paid to sustainability, and the terminal will be constructed in accordance with the LEED Gold Certification criteria at the minimum. The premises will be primarily heated with geothermal energy, and a solar power plant will be built on the roof, making the terminal almost entirely self-sufficient in energy. The site is AVIA Real Estate’s first geothermal site – 33 boreholes with a depth of 320 meters will be drilled.

The center has an area of approx. 16,000 gross square meters, which is the equivalent of over two soccer fields.

Computer generated image (CGI)
R8 Technologies

R8 expanded collaboration with Estonia’s third largest business campus, Ülemiste City

R8 Technologies and Estonia’s third largest business campus Ülemiste City expanded their collaboration in March, and the company’s AI now controls an area of over 350,000 m², including offices, business premises and an airport. The single largest building is a shopping center covering an area of over 100,000 m². Previously the collaboration has only included some of the buildings.

Ülemiste City is an urban environment with over 16,000 people from over 73 countries working, studying or living. It also hosts nearly 500 companies with a combined annual revenue of over 2 billion. Estonia’s third largest business campus is planning to double its size during the next 5 years.

During 2023 alone, the use of R8 in the Ülemiste City area resulted in energy cost savings of 1.2 million and 5,000 tons of CO2 emissions, which corresponds to the carbon fixation of approximately 25,000 trees.

R8 secured Panasonic as an investor in 2023 funding round

R8 Technologies secured new international investors and partners during its funding round in 2023, including technology giant Panasonic Corporation. With its investment in R8, Panasonic aims to provide energy-efficient building management solutions and reduce the environmental impact of commercial buildings worldwide – in line with the company’s vision for sustainable development.

The investment was made through the Panasonic Kurashi Visionary Fund. The fund has invested in four technology companies, with R8 as the first European investment.

Other new investors include energy transmission specialist Encevo and real estate company Møller Eiendom.

R8’s AI allowed clients to save 10 million euros in energy costs

During 2023, R8 Technologies saved 10 million euros from its clients in energy costs and reduced CO2 emissions by 26,000 tons. This corresponds to 77,000 megawatt hours (MWh) of energy. The real estate industry has an important role in solving the global climate challenge, as its environmental impact is the largest compared to all other industries.

In Estonia alone, the company’s clients also received 0.5 million euros of net income using the company’s Demand Response service. This equals 3,300 megawatt hours of energy. The Demand Response services enables reducing or increasing electricity consumption at a certain moment when the demand and electricity price are particularly high or low. The owner of the electric grid compensates for the use of the Demand Response service to the instances utilizing it.

R8’s AI made over 15 million automatic adjustments in the clients’ properties, which significantly improves energy management compared to traditional manually made adjustments.

R8 also grew the size of the real estate portfolio it manages to 3.5 million square meters and expanded its operations to 20 countries across Europe. In 2021, the number of square meters managed by the company totaled 1 million, signifying a growth of 2.5 square meters in two years. The total value of the portfolio managed by R8 is over 10 billion euros.

The company is committed to developing its operations that assist properties in solving the climate challenge, high instability of the energy market and extreme weather circumstances.

SRV

SRV’s order volume increased by 25 percent

SRV managed to bolster its order backlog, which stood at EUR 1,048.6 million at year-end, up 25 per cent year-on-year. Due to the structure of the order volume, the company’s operations have a solid foundation, despite challenges in the market environment. Some of the key projects below.

SRV:n rakennuttamia kerrostaloja

Laakso Joint Hospital

The first execution phase of the Laakso Joint Hospital was started. This extensive project further strengthens SRV’s position as a deliverer of major hospital projects. The project has a total value of 800 million euros, and approximately 300 million euros of this was included in the order volume by the end of 2023.

Users, i.e. the personnel of Helsinki University Hospital and the City of Helsinki’s Social Services, Health Care and Rescue Services division, are closely involved in the hospital’s design together with the designers, constructors and buyer. Waste from the construction site and demolition work are put to practical use, and the construction site has a sorting rate of nearly 99%.

Office skyscraper Horisontti

SRV’s long-term work in developing Kalasatama in Helsinki advanced as the company signed an agreement to execute Finland’s first office skyscraper, the 26-floor Horisontti in Kalasatama. The fifth tower building in Kalasatama will be Finland’s tallest office building upon its completion. SRV has an 80-percent market share in constructing skyscrapers over 100 meters tall.

Horisontti’s modern office spaces provide new dimensions to working onsite, and most importantly, opportunities for meeting people. Upon the project’s completion, also SRV will move its offices to Horisontti, located in the urban and rapidly developing Kalasatama area with excellent traffic connections. The goal is to have the ready building LEED Platinum certified.

SRV:n suunnittelemia kerrostaloja

Kerto LVL mill for Metsä Wood

SRV’s expertise in industrial construction secured the company an agreement with Metsä Wood to execute a large-scale Kerto LVL (laminated veneer lumber) facility in Äänekoski. The contract, which is valued at approximately 86 million, concerns a 50,000 square-meter LVL mill to be constructed in the expanding Äänekoski industrial site.

Following SRV’s strategy, the building will be designed and constructed with a lifecycle-wise approach to energy efficiency and the diverse needs of the future. The mill’s production processes and heating will run on bioenergy produced by the nearby bioproduct mill. The building will be heated with waste heat recovered from the industrial processes. A backup heating system will be implemented in case of production shutdowns to ensure good conditions for the facility at all times.

Valmet Automotive

Valmet Automotive began production of battery systems at Kirchardt plant

In March, Valmet Automotive began the production of battery systems at the Kirchardt plant in Germany. The plant is the company’s third battery plant with large series production and the first outside of Finland. The company manufactures high-voltage systems for electric vehicles at Kirchardt.

The Kirchardt plant has a production area of approximately 11,500 square meters and carbon-neutral battery system production. In addition to Kirchardt, Valmet Automotive has battery plants in Finland’s Salo and Uusikaupunki, in conjunction with the car plant.