Completion ceremony held for the underground service facilities of Sponda's City-Center complex

Sponda Plc			Press release	 30 September 2008, 14:00

Completion ceremony held for the underground service facilities of Sponda's
City-Center complex 

Excavation works on the Helsinki City-Center underground service facilities
project are on the final stretch. The facility floor is now at its final depth
of about 36 metres below street level. A traditional completion ceremony was
held in the underground facilities on Tuesday, 30 September 2008. This ceremony
is referred to as a “tarring ceremony” in Finnish because tunnel floors are
waterproofed with tar when excavation has been completed and the lowest point
reached. 

The real estate investment company Sponda Plc is developing an office and
shopping centre in the City-Center complex. Thanks to its prime location in
Helsinki, it will attract passing customer flows. 

This property is one of Sponda's major development sites. The investment is
valued at about EUR 110 million. The development project will increase the
leasable area of the property from 41,000 m2 to 55,000 m2. Final completion of
the project is estimated for 2011. 

Shops will be located on five floors, two of them underground. A large atrium
in the centre of the building will provide natural light for all floors of the
shopping centre. In-and-out shopping outlets will be clustered at the tunnel
level, while clothing and fashion stores will be located on the two floors
above street level. It is planned that the third floor will cater to shoppers
interested in interior decoration and household goods. What's more, the
shopping centre will broaden the range of restaurants and cafes in the heart of
Helsinki. Banking, insurance and medical centre services will be housed on the
office floors of the complex. 

The new shopping centre will transform the urban landscape of Helsinki
significantly and bolster the appeal of the downtown core. Keskuskatu street
will be converted into a pedestrian precinct, enlivening the area. Together
with its neighbouring attractions, the new office and shopping complex is
expected to increase the appeal of downtown Helsinki. 
 
Goods transport for the shops in the complex will be directed through the new
underground service route. Thanks to this new route, the access ramps of the
City-Center building on Keskuskatu street can be removed and the street can be
converted into a pedestrian precinct. The underground service route will reduce
service traffic on the streets and thereby improve road safety. 

The City-Center underground service facilities comprise one of the projects
carried out as part of the city centre service route. Extending from Ruoholahti
to Kaisaniemi, this route for service and parking traffic will mainly be
located underneath Kalevankatu street and Aleksanterinkatu street. It is
estimated that the route will be used by about 14,000 vehicles each day. The
western section of the city centre service route, from Ruoholahti to Keskuskatu
street, is estimated to be opened in March 2009. The eastern section of the
route, from Kaisaniemi to Keskuskatu street, will be completed in summer 2010,
at the same time as the City-Center underground service facilities. 

Sponda Plc 


Further information:  
Olli Lehtoaro, Commercial Director, Shopping Centres, tel. +358 50 303 9206



Sponda Plc is a real estate company specializing in commercial properties in
the largest cities in Finland and Russia. Sponda's business concept is to own,
lease and develop office, retail and logistics properties into environments
that promote the business success of its clients. The fair value of Sponda's
investment properties is approximately EUR 2.8 billion and the leasable area is
around 1.4 million m².