Lemminkäinen has obtained a building permit for the residential building planned for the plot in the St. Petersburg city center, which was purchased by Lemminkäinen in autumn 2012. Lemminkäinen will begin the construction of the €200 million project immediately. The new site is located by the Obvodny canal close to Moskovsky Prospekt, and it will comprise 757 apartments.
In the first phase, Lemminkäinen will build 339 apartments that are scheduled for completion by the end of 2014. The entire project should be completed by the end of 2015.
Tapiola is Lemminkäinen's residential development and construction project, in which Lemminkäinen is responsible for the design, construction and sales. This project comprises a total apartment floor area of approximately 52,000 m². In addition, the plot will accommodate approximately 4,000 m² of office and commercial premises, which will be sold separately, as well as 360 parking spaces. The project also includes a kindergarten.