NIB finances joint campus for Aalto University

NIB and Aalto University Properties Ltd have signed a EUR 40 million loan for financing the construction and renovation of university buildings at Aalto University’s joint campus.

The 18-year-maturity loan is for the financing of two projects that are part of creating the joint campus. As Aalto University is to concentrate its academic education and research operations into a joint campus in Otaniemi in Espoo, Aalto University Properties Ltd has begun a large investment programme that will continue until 2020. The programme consists of several projects and this loan will finance the construction of Open Innovation House (OIH) and the renovation of the old main building of the Technical University, Otakaari 1.

“A joint campus strengthens and facilitates the exchange of knowledge and can lead to spill-over effects enhancing the quality of education and research even further,” says Henrik Normann, NIB President & CEO.

The OIH is the first project within the campus area and it provides premises for university research centres, the Nokia Research Centre and the EIT/ICT Labs Group. The building was completed during the summer 2012.

The old main building of the Technical University, Otakaari 1, was designed by Alvar Aalto. The renovation includes improved energy efficiency and ventilation systems that lead to energy savings of up to 30%. The project is estimated to be ready by 2015.

Aalto University Properties Ltd is a real estate company specialised in the ownership and development of premises used by the Aalto University located in Espoo in the Helsinki metropolitan area. The company was founded in 2009 and is owned by the Aalto University Foundation and the Finnish Government (Senate Properties). It is the largest subsidiary of the Aalto University Group accounting for 88% of the group’s total assets.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Tarja Kylänpää, Senior Director Origination, at +358 10 618 0237,

Kyra Koponen, Communications Officer, at +358 10 618 0297,