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Published: 2013-02-19 14:15:00 CET
SRV Yhtiöt Oyj
Company Announcement

Administrative Court rejects appeal lodged against change to Kalasatama Centre city plan

 

Espoo, Finland, 2013-02-19 14:15 CET (GLOBE NEWSWIRE) -- SRV GROUP PLC         STOCK EXCHANGE RELEASE          19 FEBRUARY 2013  AT 15:15

The Helsinki Administrative Court has rejected an appeal made last summer against a change to the Kalasatama Centre city plan. According to the Administrative Court’s decision, the change to the city plan, prepared by City of Helsinki administrative bodies and approved last June by the City Council, is not unlawful on the grounds presented in the appeal.

SRV is designing for the area a complex that will include a retail and experience centre, a City of Helsinki health centre, hotel and office towers, and six residential towers. SRV won a design and implementation competition arranged by the City of Helsinki in 2011.

Due to the appeal process, last autumn SRV adjusted site operations at Kalasatama Centre with respect to developer-contracting parts of the project in order to limit commitment of capital. Infrastructure work commissioned by the city, such as a common waste collection station for the Kalasatama area, has continued without interruption.

SRV will continue the developer-contracting parts of the project only when the change to the city plan enters into legal effect. The appellant has the right to apply for leave to appeal from the Supreme Administrative Court within 30 days.

SRV Group Plc

Taneli Hassinen
Vice President, Communications and Brand Management
Tel. +358 40 504 3321
taneli.hassinen@srv.fi

Further information:

Juhani Katko, Project Director, tel. +358 405 054 587