NIB Provides €18.3 Million Financing for LEED Platinum Rental Housing in Turku and Kirkkonummi

NIB Provides €18.3 Million Financing for LEED Platinum Rental Housing in Turku and Kirkkonummi

(IN BRIEF) NIB has extended an €18.3 million, 10-year loan to Joo Group Oy to support four new residential buildings in Turku and Kirkkonummi, Finland, totaling a €40 million investment. Slated for delivery in 2025, the developments will add nearly 300 rental units certified to LEED Platinum and aligned with the EU Taxonomy, featuring energy class A performance and solar installations. André Küüsvek of NIB highlighted the synergy between green building and urban expansion. Joo Group, majority-owned by Fastighets AB Balder, leverages its local market presence to execute these sustainable housing projects. NIB, with AAA/Aaa credit ratings, continues to finance environmentally beneficial initiatives across the Nordic-Baltic region.

(PRESS RELEASE) HELSINKI, 4-Jul-2025 — /EuropaWire/ — The Nordic Investment Bank (NIB) and Joo Group Oy have finalized a €18.3 million, 10-year loan to fund the construction of four residential buildings in Turku and Kirkkonummi, Finland. With a total project cost of €40 million, these developments—scheduled for completion in 2025—will introduce nearly 300 energy-efficient rental apartments across Masala, Kirkkonummi, and Pukkila, Turku, areas where Joo Group already holds deep local expertise.

Each building is designed to meet LEED Platinum standards and fully comply with the EU Taxonomy, boasting top-tier energy class A ratings and on-site solar power generation. These projects represent some of NIB’s inaugural financing for newly constructed residential properties that combine market-leading green credentials with robust urban development.

“Backing Joo Group’s sustainable housing initiatives allows us to foster energy-efficient residential infrastructure in Finland,” said André Küüsvek, NIB President and CEO. “These buildings exemplify how superior environmental performance and urban growth can complement one another.”

Founded in 2017, Joo Group Oy specializes in residential development in major Finnish cities and is majority-owned by Fastighets AB Balder, a Nasdaq Stockholm–listed Swedish real estate firm. Headquartered in Helsinki with a regional hub in Riga, NIB serves Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden, financing projects that enhance productivity and environmental outcomes across the Nordic-Baltic region. The Bank holds AAA/Aaa credit ratings from S&P Global Ratings and Moody’s.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

Media Contacts:

Sari Cabell, Senior Banker, +358 10 618 0519, sari.cabell@nib.int

Oliver Mølvang Hermansen, Associate Communications Officer, +358 10 618 0225, oliver.hermansen@nib.int

SOURCE: Nordic Investment Bank