News

31. March 2022

Fira and eQ’s property fund have concluded the sale of an apartment building being built in Kivistö, Vantaa

Construction on the site will start in the spring of 2022 and is expected to finish in early 2024.
Fira ja eQn asuntorahasto toteuttivat kaupan Vantaan Kivistöön rakentuvasta kerrostalosta

Construction service company Fira Oy has concluded the sale with eQ’s property fund of an apartment building being built in Kivistö, Vantaa. The site is located a short walking distance from the Kivistö railway station and the Kivistö local service centre, currently under construction.

Construction on the site will start in the spring of 2022 and is expected to finish in early 2024. The high-quality building consists of varied apartment types suitable for different stages of life, and the combinable apartments also make it a very flexible prospect for rental apartments.

“We are very happy to start working together with Fira. This planned property in Kivistö, Vantaa is an excellent fit for our fund, and it will offer its future residents good homes and convenient daily life with its good local services and transport connections”, says Markus Pitkänen, Investment Director responsible for property funds at eQ.

Virtual image of the site

“Looking at the development of the Kivistö district, the new project will be a great complement to Fira’s other properties in the area. The project is based on long-term development work that started with the tendering process organised by the city and will continue all the way to the construction. The development of the project utilised the housing library developed by Fira, allowing us to manage changes and the project-specific tailoring efficiently along the way. We’re very happy to have the Kivistö site be the first residential project between Fira and eQ. After a good start, we can continue towards the next projects. Fira’s goal is to continue to carry out projects for the market with a similar model”, says Topi Laine, Fira Oy’s Director, Residential Construction.

The seller’s commercial advisor in the project was Cushman & Wakefield, assisting Fira in finding the best partner.

“We want to thank both parties for a smooth sale process, and we are very happy to see that our collaboration with Fira led to a successful result. The Kivistö project is once again an excellent example of the current market’s high demand for rental housing properties close to good transport connections and local services”, says Ville Suhonen, Partner at Cushman & Wakefield. 

Fira seeks to develop the profitability of residential construction by making construction projects flow faster, and by improving the cost effectiveness and quality of the projects. Fira has been determined in increasing its capacity to carry out projects with high cost effectiveness and quality, and the company has developed its own housing library and production system to support this endeavour. The housing library is an extensive information bank designed by Fira with its customers to accumulate the knowledge and solutions from each project. The library contains several hundred apartment plans, including standardised technical main solutions. The production system enables synchronised production, which makes the production phase significantly more efficient.

Further information:

Fira Oy
Topi Laine, Director, Residential Construction, tel. +358 40 079 2492, topi.laine@fira.fi

eQ Varainhoito Oy
Markus Pitkänen, Investment Director, tel. +358 50 371 2898 markus.pitkanen@eq.fi

Cushman & Wakefield
Ville Suhonen, Partner, tel. +358 50 349 5159, ville.suhonen@cushwake.fi

Fira Oy is a construction service company focusing on high-quality project solutions in growing sectors of the construction industry, especially in the Helsinki metropolitan area. Our business operations are divided into four service areas: residential construction, commercial construction, modernisations and pipe renovations. We develop housing and construction solutions that consider the environment, delight people and help customers exceed their goals

Read more about Fira’s residential construction services

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Further information

Topi Laine

Topi Laine

Director | Residential construction

+358 400 792 492 topi.laine@fira.fi