About the company

Background

In conjunction with the reform of Finnish universities in 2009, the Finnish Government decided to capitalise the new, independent universities by transferring to them the ownership of their current premises, which were previously state-owned. For this purpose, the Government established property investment companies and assigned two-thirds of their ownership to the universities, with the remaining one-third being retained by the Government (Senate Properties). Helsingin Yliopistokiinteistöt Oy is part of the University of Helsinki Group.

Objectives

The company applies the following principles in its operations:

• The University must have access to reasonably priced premises appropriate for its operations.
• The value of the properties must be preserved in the long term, and their management and control must be cost-effective.
• The equitable treatment of the universities must be ensured.
• The arrangement must support the objectives of the university reform.

Ownership

Share ownership is divided between five universities and the Finnish State as follows:

Ownership structure

Users and tenants

Helsingin Yliopistokiinteistöt Oy primarily leases premises to its owner universities. Lease agreements usually concern whole buildings, with the university subletting the premises to its chosen partners.

Helsingin Yliopistokiinteistöt Oy is responsible for developing premises and buildings no longer needed by the universities and for seeking users for them.

Administration

The Board of Helsingin Yliopistokiinteistöt Oy comprises six elected members. The universities appoint the chair and three members, while the Finnish Government appoints the deputy chair and one member. The universities agree on the four members appointed to the Board, applying the principle of equal treatment between the universities.

Staff

Due to the company’s operations model and the local nature of its operations, the organisation will remain small. The company currently employs a managing director and two other staff members.

The company will acquire the necessary additional services from either the University of Helsinki Group or commercial providers.

Establishment of the company