Nordicum - Real Estate Annual Finland 2015 | Page 37

Photo: Olli Häkämies

(From left to right) Kim Särs, Kirsi Borg and Vesa Immonen believe that Tapiola is about to witness a "real renaissance" in the
years to come.

Borg, head of new entity Promote Tapiola,
says that the shopping centre will eventually
feature 50,000 square metres and as many
as 100 shops.
“The construction for Phase II has
already started and should be finalised by
January 2017,” Borg says.

Hit the Ground Running
The first phase has surpassed all expectations: in just a year, Ainoa has become a
genuine meeting place for the local community. This is good news for the shop owners,
since the purchasing power in this particular
area is second to none in the entire country.
“The purchasing power here is
30–40 % better than the Helsinki average,
for example,” Borg offers a comparison.
There is plenty of customer volume in the
area, too: in fact, 93,000 people live within a
10 minute car ride from the shopping centre.
Also, the youthful approach and dedicated focus on leisure appear to be winning
strategies. The reports from the shopping
centre’s “youth team” confirm that it’s just
the kind of place that the younger people
have been wishing for – a place where you
go to meet your friends and just hang out.

A big part of tomorrow’s winning concept is Stockmann department store which
will form a major anchor for Ainoa in the
coming years. The department store will
move from its previous location to Ainoa
as the Phase II kicks in.

Under Construction
Presently, however, both Tapiola and Ainoa
are dealing with their share of challenges as
the construction continues in the area. This
means that people are worried, for instance,
that they can’t find a parking spot. Borg says
that considering this temporary handicap,
the new shopping centre has performed very
well:
“The number of customers has grown
steadily since the opening” The real “critical mass” however, will be reached as the
construction is complete and the metro is up
and running. Presently, there are already 150
stores in the commercial hub.
“This neighbourhood is a real winner,
now and in the long run,” she believes, adding that there is a genuine opportunity here
to build and expand on a great legacy.
“As there are more apartments coming
to the neighbourhood, the customer base and

purchasing power will improve even more.
We are definitely on our way.”

Residential Power
Real Estate Funds Director Kim Särs from
LocalTapiola Real Estate Asset Management
is thinking along the same lines: “There are
as many as 260 apartments coming to the
area – and also smaller apartments which are
in high demand by young people,” Särs says,
explaining that the master plan is to introduce some “new blood” into the community
by renewing the demographics.
“The younger customer groups are
mobile and used to utilising a wide range
of services.”
The idea here is to solidify urban
structure by building up, which means, in
essence, that apartments will be realised on
top of other buildings. “This type of compact construction is something we have been
working on for a long time. This is a great
location that makes it possible to accomplish
a variety of things,” Särs says.
Särs is not even worried about the
murky economy, since Tapiola is built with
the focus on the long term – it’s not about
winning the day, it’s about winning the decNordicum 35