FINLAND —NCC has agreed with Turku University Foundation to redevelop the historic Sanitas factory in Turku, Finland, into a rental housing complex. The approximately SEK 180 million order will be recorded in NCC Building Nordics’ third-quarter 2026 orders. Construction is scheduled to begin in late September 2026, with completion planned for summer 2028.
The development will retain and convert approximately 2,900 square meters of the existing Sanitas building, which dates from the 1940s and has previously accommodated teaching facilities used by the University of Turku. The completed property will provide 75 rental apartments. Alongside the conversion, NCC will construct an extension covering approximately 2,100 square meters and an underground parking garage.
The project is structured around retaining the existing building rather than replacing it entirely. Its structural framework will remain in place, while the facade will be restored and internal areas redesigned to meet contemporary residential requirements. This approach allows a historically significant property to be incorporated into the city’s housing stock while adding new residential floor area through the extension.
The development adds residential capacity in Kupittaa, an area of Turku undergoing continued urban development, and creates work for the construction and property sectors. Adaptive reuse projects can also provide an alternative to full demolition and new-build development where existing structures have sufficient capacity for conversion. For property owners and developers, the model can combine heritage preservation with the creation of income-generating residential assets.
NCC is a Nordic construction and property development company operating across the building and infrastructure markets. Turku University Foundation is connected to the University of Turku and manages assets whose returns support the university and its research activities. For the foundation, the completed rental property is expected to provide an ongoing asset base, while NCC gains a sizable building conversion project in Finland’s residential construction market.
For investors and real estate stakeholders, the project illustrates the potential for converting underused institutional or historic buildings into housing while adding value through complementary new construction. The combination of an existing 2,900-square-meter structure, a 2,100-square-meter extension and underground parking also indicates that the project involves both refurbishment and new-build activity, broadening its exposure to Finland’s construction and rental housing markets.
