Largest contract in company history: Consti to renovate Varma properties in Helsinki

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Consti Group and the Varma Mutual Pension Insurance Company have signed a contract worth approximately EUR 35 million. The project will see the full renovation of two properties owned by Varma in the Vallila district of Helsinki. As in many demanding renovation projects, Consti’s close collaboration with the client starts early, at the design stage.

In January 2018, Consti started the complete renovation and facility modification of the KOy Vallilan Toimisto and Oy Ässäkeskus Ab properties. The project will be implemented under a management contracting model with a target price of approximately EUR 35 million. The work will be completed in late 2019.

“This is Consti’s largest contract to date, and it continues our series of demanding management contracting projects in which we get involved in the project as early as the design stage. The collaborative nature of the project will improve cost effectiveness, ensure high quality and reduce schedule-related risks,” says CEO Esa Korkeela from Consti.

“We believe that the early involvement of the contractor will benefit the developer and the property owner in many ways. The contractor can prepare for construction during the design phase, and the whole project organisation – client, property user and contractor – will meld into a team with a common goal,” says Tuomas Vaarasalo, construction manager at Varma.

Two properties with different challenges

KOy Vallilan Toimisto comprises three buildings which were completed in 1920, 1934 and 1938 and have been granted listed status by the Finnish National Board of Antiquities. The other property, Oy Ässäkeskus Ab, was built in 1992. The premises are rented by SOK Corporation, and they will remain in use throughout the renovation. The buildings have a gross area of approximately 51,000 m2.

At KOy Vallilan Toimisto, the internal surfaces and technical building services systems will be completely rebuilt. The facades and windows will be renovated in a manner approved by the authorities. At Ässäkeskus, the building’s interior and technical systems will be modernised.

“The two properties pose different challenges. Renovating the historical Vallilan Toimisto will be technically hard and demanding. Ässäkeskus, on the other hand, will continue to be actively used by the tenant throughout the renovation process. We will need to plan everything carefully and ensure constant communication with all parties,” Consti’s Korkeela says.

Varma aims to achieve BREEAM environmental certification for the KOy Vallilan Toimisto property during construction.

“Environmental responsibility and energy efficiency are important to Varma, which is why we plan on gaining environmental certification during construction. Our aim for the renovation is to provide SOK and other tenants with modern, adaptable facilities and make the buildings more energy efficient. The renovations will help Varma and the building users achieve their environmental objectives,” says Vaarasalo from Varma.

Consti announced the order in November 2017.

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For further information, please contact:
Esa Korkeela, CEO, Consti Yhtiöt Oyj, + 358 40 730 8568, if.it1529686506snoc@1529686506aleek1529686506rok.a1529686506se1529686506

Tuomas Vaarasalo, Construction Manager, Varma Mutual Pension Insurance Company, +358 40 731 6885, if.am1529686506rav@o1529686506lasar1529686506aav.s1529686506amout1529686506

Consti Group Plc is one of Finland’s leading companies specialising in renovation and technical building services. Consti offers a comprehensive range of services covering technical building services, pipeline renovations, renovation contracting, building facade renovations, and other construction and maintenance services for demanding residential and non-residential properties. The company operates in three business areas: Technical Building Services, Building Facades and Renovation Contracting. In 2016, the Consti Group had a turnover of EUR 262 million, and it employs approximately 1,000 renovation and building technology professionals. Consti Group Plc is listed on Nasdaq Helsinki Ltd with the ticker symbol CONSTI. www.consti.fi

Varma Mutual Pension Insurance Company is a responsible and solvent investor. The company is responsible for the statutory earnings-related pension cover of some 878,000 people in the private sector. Premiums written totalled EUR 4.7 billion in 2016 and pension payments stood at EUR 5.3 billion. Varma’s investment portfolio amounted to EUR 45.4 billion at the end of September 2017.

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