Finavia is planning to acquire a majority stake in the property investment and development company AVIA Real Estate, which owns, manages and leases business spaces near the airport. AVIA Real Estate’s currently owned and managed spaces amount to 210,000 square metres at locations close to the airport. The current tenants of the buildings include companies related to airport operations and the customer experience of passengers, such as airlines and providers of ground handling services, fleet and repair services and accommodation services, air freight operators, air navigation service providers and authorities. In connection with the arrangement, AVIA Real Estate would sell the DHL Express logistics centre under construction to Pontos Group and Nrep’s NSF III fund.
If realised, the acquisition is a natural next step for Finavia after the completion of the extensive Helsinki Airport Development Programme. In 2013–2023, the company focused particularly on the development of the airport.
"The Helsinki Airport buildings and land areas in the immediate vicinity of the airport are already owned by Finavia. This arrangement would give Finavia the opportunity to develop the area around Helsinki Airport even more comprehensively. The complex being acquired is strategically important for ensuring the long-term competitiveness of airport operations," says Finavia’s CEO Kimmo Mäki.
"The properties located near the airport serve key aviation operators and facilitate the long-term development of air traffic passenger and freight capacity in accordance with the company’s strategy. The growth of our role in the critical infrastructure area of Helsinki Airport is also a good thing from the perspective of comprehensive security. When it comes to the acquisition, Finavia’s goal is to provide the best possible operating conditions for those operating at the airport and further improve the customer experience of passengers and others visiting the area," Mäki says.
If the acquisition is completed, AVIA Real Estate’s 20 employees will bring property development expertise and experience of the successful development of the airport area to Finavia Group.
"We are pleased that Finavia, our current largest shareholder, is increasing its holding to 100%. This planned arrangement supports the comprehensive development of the airport area and the long-term increase in the value of the area very well," says Ilkka Pitkänen, Managing Director of AVIA Real Estate.
The completion of the acquisition is subject to the fulfilment of certain conditions and the approval of the competition authority. The parties have agreed not to disclose the sale price. The arrangement is expected to be implemented in the first half of 2025.
FINAVIA CORP.
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Finavia
Finavia develops and maintains 20 airports and the infrastructure needed for air traffic. Together with our partners operating at our airports, we make travel safe and worry-free.
AVIA Real Estate
AVIA Real Estate is a property investment and development company that owns, manages and leases business spaces in the airport environment.
