Nordicum - Real Estate Annual Finland 2010 | Page 37

Innovation Space
Aalto University real estate assets are in need of retooling
As the education powerhouse Aalto University stands
poised for launch in the beginning of 2010, the new entity
possesses also a considerable volume of real estate. Under
Aalto, there are about 40 buildings which feature as much
as 260 thousand square meters.

I

“innovation university” designation.
Kontturi is of the opinion
that as the new education entity is kicking off, the transformation will go far beyond mere
administrative structures. Completely new teaching and research methods are likely come
to existence – new ways of doing things that will require new
types of premises, also. In order
to give birth to innovation, people need space where interaction
is instant, natural and cross-disciplinary.
“This approach to premises is a new one, and there has
been little time to think it over,”
Kontturi says, pointing out that
the formation of a new education player of world-class substance is a massive undertaking and all issues can not be resolved at once.
“Still, I am convinced that
this is a high priority also for the
management of the university.”
At present, the premises
do not exactly encourage free
mingling of the minds as the
vision for the school suggests.
“There will be a reorganisation process that will take
some time.”

The famous Otaniemi campus
hosts the majority of the assets
and has some significance architecturally also. Drawn up
by legendary Alvar Aalto – after whom the entire university
is named – the neighbourhood
delivers a simple vision of red
“buildings in a Finnish forest.”
“There’s a standing principle that mandates that all of
these buildings are treated as if
they are conserved, even if they

are not protected as such,” Kontturi explains.
Kontturi himself has been
on the job – full-time – only
since October. The countdown
to Aalto is hectic enough:
“We have six people working here now in November and
12 by the turn of the year,” he
says. Next year, a couple more
may be hired but the idea is not
to marshal a huge roster.
“We want to focus on core
business only.” b

Photo: Sini Pennanen

n order to care of the real estate assets, a company by the
name of Aalto-Yliopistokiinteistöt Oy (Aalto – University Properties Ltd) was founded. The Aalto University Foundation owns 2/3 of the new real estate company and the State
owns the remaining 1/3.
The company was set up to
administrate, uphold and develop the premises and real estate
assets of the new university –
with the focus on the long term.
The newly appointed Managing
Director Mr. Kari Kontturi recognises that the real estate arm
of the university certainly has
some work to do.
“We are looking at an investment programme that is
very challenging indeed,” he
says, explaining that while the
related expenses for 2010 are
relatively minor (€ 5 million),
the extensive renovations needed in the campuses will swallow €