Ovenia becomes Finland’s leader in shopping centre management

Ovenia becomes Finland’s leader in shopping centre management

Ovenia Group acquires Realprojekti Oy

In July, Ovenia made an acquisition that was important for its strategy when it acquired the entire capital stock of Realprojekti Oy, a company specialising in shopping centre management and real estate development. The acquisition will reinforce Ovenia Group Oy’s service offering in property and real estate management services.

Shopping centre management and real estate development are new areas of operation for Ovenia and will allow it to develop its property management service packages and to tailor them even more closely to the customer’s needs. In construction, the combined operations of Realprojekti and Ovenia will give customers access to construction services management that is both wide-ranging and comprehensive, from planning and preparation of investment decisions to purchasing, construction project management and inauguration of completed projects.

The acquisition, which follows the long-standing co-operation between Ovenia and Realprojekti (e.g. the Sello shopping centre), creates a major commercial premises specialist with operational strengths that complement each other. The new entity will offer the industry’s broadest and most diverse service packages for maintaining and developing the value of real estate assets throughout the country.

“The expansion of Ovenia’s line of business to include shopping centre management and comprehensive real estate development has featured in our strategy for a long time. This is a continuation of the plans made with our principal owner, Vaaka Partners, the first stage of which was our expansion into residential real estate management services with the acquisition of Arenna Oy. The market outlook for shopping centre management and real estate development is interesting, and we believe that this business acquisition will strengthen Ovenia’s position as the leading expert and service provider in the sector. As a result of the acquisition, our customers are now better able to fully benefit from versatile real estate management services nationwide that require special competence. From the personnel’s point of view, the transaction opens up new possibilities for personal competence development and career development,” says Mika Valtonen, CEO of Ovenia Group Oy.

“Joining forces with Ovenia, Finland’s prime property services company, presents a unique opportunity to combine the best practices for products and services intended for different customer groups and to deliver these to broader customer groups in
different parts of Finland. The shared service offering of Ovenia and Realprojekti provides an excellent growth base for the further development of current operations and for creating new services and service packages for the benefit of customers,” says Markku Hietala, Managing Director of Realprojekti Oy.

Realprojekti Oy will continue its operations on the market as before. Markku Hietala will continue as Managing Director of Realprojekti Oy.

Further information:
Mika Valtonen, CEO, Ovenia Group Oy, tel. +358 (0)40 726 0006, mika.valtonen@ovenia.fi
Markku Hietala, Managing Director, Realprojekti Oy, tel. +358 (0)500 405 879, markku.hietala@realprojekti.fi

Requests for interview: Maarit Saloniemi-Hotokainen, Ovenia Oy, tel. +358 (0)400 812 959, maarit.saloniemi@ovenia.fi

Ovenia Group is Finland’s leading provider of property and real estate management services. Ovenia provides customer-driven property management services throughout Finland. With over 30 years’ experience, Ovenia is the largest and longest
established company in its field.
Our comprehensive service offering covers all areas of real estate asset management: property management, real estate management services, asset management, and leasing and life-cycle services. The Ovenia
Group administers a property portfolio amounting to over 10 million square metres in different parts of Finland, and the Group’s estimated turnover for 2012 will be about EUR 38 million.
The company employs over 440 property professionals in Finland.

Realprojekti Oy, founded in 2000, is a real estate development company and property consultancy. It has a strong and established role as a pioneer of diverse real estate development projects and shopping centre management. Clients of  Realprojekti include property owners, investors, city and other local authorities, construction companies and players in the retail industry. The company’s estimated turnover for 2012 will be approximately EUR 4 million. Realprojekti employs 37 experts in real estate development and shopping centre management.