The new Building Act entered into force in Finland at the beginning of 2025. On 17 December 2024, Parliament also approved the amendments to the Act.
3.1.2025
Finland’s new Building Act entered into force at the beginning of 2025
Antti Kaakkola, Marius af Schultén, Elina Marttala, Helinä Teittinen, Jessica Salmia & Sonja Leinonen
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With the new law:
- The existing action and building permits will be combined into a single building permit. The purpose of this unified permit system is to streamline the permit process.
- Climate change mitigation will become part of construction legislation: a climate report will be required for a large proportion of new buildings. The carbon footprint of these new buildings must not exceed the thresholds set for each use category.
- A new siting permit for clean energy transition projects will be introduced. This separate siting permit allows bypassing land use planning in industrial clean energy transition projects.
Read more about the changes to the new law in our blog series:
Latest insights
Article published 30.10.2024 – Environment, Energy & Green Transition
New siting permit for clean energy transition projects proposed for inclusion in the Building Act
Article published 28.8.2024 – Real Estate Investments & Transactions
Building Act brings new climate requirements for construction
Article published 31.5.2024 – International Construction & Projects
Functional electricity infrastructure is the key to attracting investments to Finland
Article published 27.5.2024 – Real Estate Investments & Transactions
Three key questions about installing the charging points required by the Charging Points Act
Marius af Schultén, Helinä Teittinen & Jessica Salmia
Antti Kaakkola, Sonja Leinonen & Jessica Salmia
Samuli Tarkiainen, Antti Kaakkola & Jerker Pitkänen
Elina Marttala
Latest references
eQ Community Properties Fund – Acquisition of a property portfolio
We advised eQ Community Properties Fund in its acquisition of a property portfolio comprising a health centre in Espoo, a daycare property in Vantaa, an elementary school in Helsinki, and a parking facility property in Helsinki from Ilmarinen Mutual Pension Insurance Company. The lettable area of the first three properties is approximately 13,900 sq.m., while the parking facility offers 120 parking spaces. The portfolio’s tenants include the City of Helsinki, the City of Vantaa, the Western Uusimaa Wellbeing Services County, and Aimo Park Oy. In connection with the transaction, Ilmarinen invested in eQ Community Properties fund as per 31 December 2024.
Case published 9.1.2025
Fortum – Acquisition of a project development portfolio for renewable power from Enersense
We are acting as a counsel to Fortum in a transaction in which Fortum is strengthening its renewable power project pipeline through the acquisition of a project development portfolio from Enersense. The debt-and-cash free purchase price is approximately EUR 9 million, with the potential for project-specific earn-outs subject to projects successfully reaching a final investment decision in the future. The transaction is subject to customary closing conditions and is expected to be completed during the first quarter of 2025. Fortum is a leading Nordic energy company with the purpose to power a world where people, businesses and nature thrive together. Fortum’s core operations comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. The company is listed on Nasdaq Helsinki. One of Fortum’s strategic targets is to develop at least 800 MW of ready-to-build onshore wind and solar projects by the end of 2026.
Case published 19.12.2024
Nrep – Residential construction project at Arabia Shopping Centre
We assisted Nrep in the development of a residential building that will be built adjacent to the Arabia Shopping Centre in north-eastern Helsinki. Our assignment included assisting in a financing arrangement for the residential building, together with corporate and real estate arrangements related to the project. This involved restructuring through share transactions and a demerger, a zoning change, a change of plot division, a joint arrangement, and a management division agreement. The new 16-storey residential building will consist of 188 Juli Living rental apartments and additional business premises on the street level. Once completed, the building will be one of the most energy-efficient residential buildings in Finland. The financing arrangement complies with Nrep’s sustainability targets. LEED Platinum certification will be applied for the project, while the previous two LEED Platinum certificates for residential buildings have been awarded to Nrep’s Herttoniemi and Friisilä sites.
Case published 28.10.2024
Fortum – Sale of recycling and waste business
We are acting as the lead counsel to Fortum in a cross-border transaction in which Fortum is selling its recycling and waste business. The business is sold to thematic impact investing firm Summa Equity through its portfolio company NG Group. The debt-free purchase price is approximately EUR 800 million. The transaction is subject to authority approval and customary closing conditions. Fortum’s recycling and waste business to be sold comprises municipal and industrial waste management and end-to-end plastics, metals, ash, slag and hazardous waste treatment and recycling services. These businesses are located in Finland, Sweden, Denmark and Norway and currently employ approximately 900 employees.
Case published 18.7.2024