Belgian healthcare real estate giant Aedifica is pressing ahead with its Nordic expansion strategy, committing €11.5m to develop two state-of-the-art care homes in Finland's northern regions. The investment signals growing confidence in Finland's healthcare property market, where demographic pressures are creating unprecedented demand for elderly care facilities.
The development spans two strategic locations: Rovaniemi, the capital of Lapland with 65,000 inhabitants, and Joensuu, the capital of North Karelia with 78,000 residents. The Rovaniemi facility will house 43 residents across approximately 2,150 m², whilst the Joensuu property will accommodate 33 residents in roughly 1,650 m². Both properties are scheduled for completion in Q2 2026, with construction commencing imminently.
Stefaan Gielens, CEO of Aedifica, emphasised the strategic importance of the investment: "Aedifica continues to build for tomorrow, investing €11.5m in two sustainably designed care homes in Finland. With these investments, we are continuing to deliver on our commitment to refill our development programme." The move represents a calculated bet on Finland's rapidly ageing population, where the over-65 demographic is projected to increase by 47% by 2040, creating a structural supply shortage in care facilities.
The properties will feature cutting-edge sustainable technology, including geothermal heating systems designed to achieve excellent Energy Performance Certificate ratings. This green infrastructure approach not only reduces operational costs but positions the assets favourably under increasingly stringent EU sustainability regulations. Atte Nittylä, CEO of development partner Hoivatilat, noted: "These care facilities will support the well-being of 76 elderly residents. In the design process, we've also paid special attention to environmental standards and energy efficiency. Together we are creating a better society."
Attendo, the Nordic care giant operating 33 existing Aedifica sites, will manage both facilities under 15-year triple-net leases. With over 40 years of healthcare experience and 33,000 staff across nearly 800 locations, Attendo's operational expertise provides investors with stable, inflation-protected returns. The partnership leverages Attendo's deep local market knowledge whilst reducing Aedifica's operational risk profile.
The investment generates an attractive 6.5% yield on cost, significantly above current European real estate yields, whilst targeting a market where regulatory barriers limit competition and government funding provides revenue stability. For institutional investors seeking defensive assets with inflation protection, Finland's healthcare sector offers compelling demographics-driven growth prospects in a politically stable, high-credit environment.
People mentioned:
- Stefaan Gielens, CEO of Aedifica
- Atte Nittylä, CEO of Hoivatilat
Companies mentioned:
- Aedifica - Belgian healthcare real estate investment company
- Attendo - Nordic healthcare services operator
- Hoivatilat - Finnish care facility development partner
Image Render: Aedifica
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