Skanska renovates historical building complex into luxury hotel in Helsinki, Finland, for EUR 47M, about SEK 480M

The hotel will be part of the Hyatt hotels, and it is the first in the Nordics. The project will combine three separate buildings into a hotel, which encompasses 224 rooms and restaurant spaces, totaling about 21,000 square meters.

The historical buildings are located in the heart of the city of Helsinki, and the oldest one was built in 1910. The project has high sustainability goals and it is expected to receive a LEED certification.

The renovation will start in June 2021 and is scheduled for completion in the second quarter of 2023.

Skanska is one of the leading construction- and project development companies in the Nordics, with operations in building construction and civil engineering in Sweden, Norway and Finland, and developing residential- and commercial property projects in select home markets. The commercial development stream is also active in Denmark. Skanska had sales of about SEK 66 billion and about 14,800 employees in its Nordic operations during 2020.