Kotka Old Port project leaps forward: Outlet lease contract signed, extensive construction work begins

Kotkan Kantasataman Outlet Oy and Kotka City have just signed a lease agreement for the construction of an outlet center as part of Kotka Old Port project. The construction of this unique Project will begin at the end of the summer. Significant partnerships will increase the service range and purchasing power of the Kotka Old Port: Kotka Old Port project has been selected as the site for Southeastern Finland University of Applied Sciences campus as well as for the Exhibition and Sport Arena Center.

Kotka's main port area lies in the heart of unique renovation project, Kotka Old Port, which connects business and leisure services and will bring a huge range of restaurants, designer outlet shops and entertainment services to the area. The unique project has reached a major milestone when Kotkan Kantasataman Outlet Oy has signed a lease contract with the city of Kotka. Kotka Kantasataman Kehitys Oy, developing Kotka's Old Port project, is expecting to be satisfied with the situation:

"It's great that the lease contract for the outlet has now been signed and we have reached the starting point for the actual construction work. The designer brand outlet will provide its visitors with a unique maritime location for designer shopping and entertainment in the area's services,"says Cameron Sawyer, Chairman of the Board of Kotkan Kantasataman Kehitys Oy.

Construction work starts with the dismantling of old buildings and the next months of work will concentrate as well on large-scale earth works, foundation piling works, and various infrastructure works. Underground parts of the construction work are complicated by the ground conditions at the project site, which is located on reclaimed land.

"The next round of capital has been committed to the Outlet project, and full scale construction works will start as soon as we can complete the tender for the contractor," Sawyer continues.

Southeastern Finland University of Applied Sciences (XAMK) and the Exhibition and Sport Arena Center selected Kotka Old Port project.

Technology-oriented Southeastern Finland University of Applied Sciences entered the Old Port project as a partner. A variety of alternatives to build a new XAMK campus in Kotka were considered. This partnership will bring three thousand new students who are potential buyers of the outlet center to the area.

We are excited about the move to downtown Kotka and specifically to the Old Port project. The large-scale redevelopment of the Old Port area of Kotka which is being carried out by the City of Kotka in cooperation with MDC will create a marvelous location for the University, really unique in the whole region, which will offer great amenities and context for University life, "says Heikki Saastamoinen, President of XAMK.

The Old Port project in Kotka has also agreed on another important partnership when it was decided to make an international  Exhibition and Sport Arena Center a part of the Kotka Old Port project. The event center will provide Kotka with the opportunity to organize world-class conferences, exhibitions and sports events.

"Southeast Finland lacks a proper facility for large- scale conferences and exhibitions, and downtown Kotka, which is the most dynamic urban area in Southeast Finland, is the logical place to put one. The Exhibition and Event Arena Center at Kotka Old Port will work very well together with the University, making it possible to hold different kinds of conferences and exhibitions related to, for example, high technology business. The hotels and excellent F&B establishments being developed by MDC will also be very important to the good functioning of the Arena Center. The Kotka Old Port Outlet Mall, which will be under construction already this summer, will also be an attractive amenity to exhibition and conference attendees coming from other areas,” says Outi Raatikainen, CEO of Pink Eminence, consultant to the Exhibition and Sport Arena Center.

Press

Additional Information

Cameron F. Sawyer, Chairman of the Board
GVA Sawyer, Kotkan Kantasataman Kehitys Oy
Csawyerpriv@gvasawyer.com  

+44 777 447 2606
+ 7 903 723 4816
www.kotkaoldport.com, www.gvasawyer.com