Ylva and Varma establish a new joint venture

Avance advises Ylva in the establishment of a new joint venture concerning the Lyyra development project together with Varma, one of Finland’s largest pension insurance companies.

The Lyyra project, located in Kallio, Helsinki, will be completed in stages by 2023. Three new buildings will be built within the Lyyra block, housing a hotel, office space, restaurants, and apartments. The total floor area of ​​Lyyra is 20,800 square meters, which also includes underground facilities.

Ylva will continue as Lyyra’s major shareholder, and serve as the project’s active developer, as it has since 2017.