Pontos’ portfolio company LAK Real Estate Oy (LAK) has begun construction work for Finland’s largest hotel entity. The 13-floor hotel, which opens at Helsinki-Vantaa in 2024 will operate in conjunction with terminal 2. Construction work begins in October 2021. The hotel covering over 700 rooms is operated by Nordic Choice Hotels.
The hotel marks an important part of the airport city, which combines flexible and versatile services to meet the needs of residents, companies and travelers. The hotel located at the core of the airport provides a direct connection to terminal 2 from the inside, as well as the airport train station.
The project complements Pontos’ efforts in advancing sustainable and vibrant cities. “LAK has done terrific work in developing the Aviapolis area and new, vital airport city. The hotel is a seamless part of Avia City, which combines nature, urban living and the airport into a tight-knit and unique hub. This serves residents of the area as well as companies, while also boosting the area’s international competitiveness,” says Päivi Tomula, Investment Director, Real Estate at Pontos and member of the Board of Directors of LAK.
The project investment totals over 120 million euros. The planning process has been carried out with responsibility at the core. A LEED Gold Certificate is being applied for the hotel, and the goal is to have a waste utilization rate of 70 percent for the construction site.
“It is very inspiring to be involved in a hotel project of such scale. The hotel has a superior location, and it serves Aviapolis companies and travelers alike. We strongly believe in the role of Helsinki-Vantaa as an important strategic point for global travel,” states Ilkka Pitkänen, Managing Director at LAK.
In addition to Pontos, LAK’s owners are NREP and Finavia.
Pontos Group is a Finnish family office that invests in real estate, real estate development, real estate digitalization, growth companies and private equity funds. The company is an active and long-term owner committed to the continuous development of its portfolio companies. It invests in real estate and companies in Finland and its surrounding area as well as private equity funds globally. Pontos seeks to increase investments in the digitalization of the real estate industry and the development of real estate lifecycles, all the way from construction to usage. The company seeks to develop cities and population centers in a way that is sustainable for people and the environment.
LAK Real Estate is a property development company operating in the airport environment which owns, manages and leases offices and logistical facilities to the varying demands of business life in the Helsinki-Vantaa airport area. LAK is also known as a major developer of new buildings in the airport and Aviapolis area. The company’s owners are a real estate investment fund managed by NREP, investment company Pontos and airport company Finavia Oyj.