All agreed loans

Finland. Suomen Yliopistokiinteistöt Oy

Date of loan: 23 May 2016
Country: Finland
Customer: Suomen Yliopistokiinteistöt Oy
Amount in EUR: EUR 50 million
Maturity: 15 years
NACE sector / loan type: Real estate activities
Business area: Infrastructure, transportation and telecom

Environmental effect

This loan contributes to climate change mitigation: 29%

Project

The loan has been provided for the construction of new healthcare research and education facilities on university campuses in Turku and Oulu, Finland.

In Turku, the loan will be used for the construction of the Medisiina D building on the Kupittaa campus. The new medical laboratory facility will provide teaching, research and diagnostics opportunities to be used by the University of Turku, the Hospital District of Southwest Finland, Turku University of Applied Sciences and the National Institute for Health and Welfare (THL). The gross area of the building will be around 26,000 m2. Construction began in August 2015, and is expected to be completed by summer 2018. The total investment cost is estimated at EUR 80 million.

Further, the loan will finance a new education, research and treatment building for the Institute of Dentistry at Oulu University and the dental hygienist training department of Oulu University of Applied Sciences. Construction work began in early 2015 and is due for completion by the end of 2016. The gross area of the building, located on the Kontinkangas campus, will be around 10,200 m2. The total investment cost amounts to approximately EUR 32 million.

University Properties of Finland Ltd. develops attractive campus facilities and maintains and leases premises for the use of universities and businesses outside the greater Helsinki area in Finland. The company is owned by the Finnish state and the universities outside the Helsinki region.

Fulfilment of NIB's mandate

The Medisiina D building is intended to contribute to the centralisation of healthcare, research and educational services within the Turku University Hospital area. The facility will house a number of healthcare operators and offer access to modern medical equipment and provide common services. New possibilities for collaboration between academia and clinical practitioners are anticipated.

Medisiina D is being constructed according to the BREEAM certification requirements for environmentally friendly buildings. The choice of structures and materials follow the principles of sustainable construction development to achieve low operating costs. No significant potential for negative environmental impact has been identified.

The new dentistry building in Oulu is expected to generate synergy benefits by allowing for better cooperation between academia and dental practitioners in the same facility. This is assessed to increase the quality of oral healthcare in the region and improve public finances and the availability of services.

The energy usage of the new oral healthcare facility is estimated to be 60% lower than that of the existing dentistry building in Oulu, which will be demolished. Ground heat wells will be installed within the property, which will cover around 14% of the thermal energy use. This is assessed to reduce CO2 emissions and lower demand for purchased heat energy. The overall environmental performance level of the building on the BREEAM scale is “Very Good”.

Sustainability summary

During the first construction phase of the Medisiina D building, contaminated soil was identified on the property. These contaminated masses will be exchanged and delivered for appropriate treatment. Waste fractions produced during the construction and operation of the building can be hazardous; hence, they will be separated, recycled and treated as appropriate.

The lower energy and heat demand of the new dentistry building in Oulu is expected to improve the environmental performance level significantly compared to that of the existing facility. Soil contamination within the property was investigated in connection with earlier projects, and no contaminated masses were identified. The project is assessed not to have any significant environmental or social impacts.

Press release

NIB finansierar nya multifunktionella lokaler för finska universitet

 

Press release

NIB rahoittaa yliopistojen uusien monikäyttötilojen rakentamista